Report: Verizon close to deal to become IndyCar title sponsor

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The Sports Business Journal is reporting that Verizon and IndyCar are close to a deal that would see the telecommunications giant be named IndyCar’s title sponsor.

Per sources who spoke to the SBJ, Verizon would commit to spend approximately $10M a year in rights, activation and media. The length of the deal would be 10 years, valued at $100M.

Quite honestly, the move would make sense on so many levels that to my occasionally skeptical eye, I wasn’t sure a deal like this could actually happen. Because in theory, back in September when news of IZOD’s departure was confirmed, I thought a Verizon title sponsorship would be simply too good to be true.

If it happens, Verizon’s activation will be the key to the partnership, between retail stores and ad promotion and other outlets where they can promote.

They can promote a “speed” aspect – both in terms of its actual 4G LTE service and Internet speed – and with the comparison of IndyCar’s top speeds (230mph-plus) versus NASCAR’s (200mph-plus), with their title sponsor still Sprint.

For five years, Verizon has been among the most active in the motorsports sponsorship business with Roger Penske’s organization. It entered with Will Power on a part-time deal in 2009, before it became a full-time sponsor in 2010.

In 2013, Verizon signage was visible on all rear wheel guards in the field, and Verizon has also stepped up to sponsor the pole award – now officially known as the Verizon P1 Award.

This year, Verizon’s presence on cars will not only be for a full-season for Power, but for eight races on Juan Pablo Montoya’s No. 2 car and at all three cars at the inaugural Grand Prix of Indianapolis (Power, JPM and Helio Castroneves) May 10.

The company works with Indianapolis-based Just Marketing International, JMI for short, on its motorsports sponsorships.

Have a decent tax refund coming? Buy Ayrton Senna’s 1993 Monaco-winning car

Photos courtesy Bonhams
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Are you expecting a better than normal tax refund? Did you get a very nice bonus from your company due to the new tax cut?

Well, if you have a good chunk of change hanging around and potentially can be in Monaco on May 11, you can have a chance to bid on the 1993 McLaren-Ford MP4/8A that the late Ayrton Senna drove in — and won — that year’s Monaco Grand Prix.

We’re not just talking about any race winner. It’s also the same car Senna won his sixth Monaco Grand Prix, and the chassis bears the number six.

It’s also the same car Senna piloted to that season’s F1 championship (his third and final title before sadly being killed the next year) and is the first McLaren driven by Senna that’s ever been sold or put up for auction.

The famed Bonhams auction house is overseeing the sale of the car.

“Any Grand Prix-winning car is important, but to have the golden combination of both Senna and Monaco is a seriously rare privilege indeed,” Bonhams global head of motorsport, Mark Osborne, told The Robb Report.

“Senna and Monaco are historically intertwined, and this car represents the culmination of his achievements at the Monegasque track. This is one of the most significant Grand Prix cars ever to appear at auction, and is certainly the most significant Grand Prix car to be offered since the Fangio Mercedes-Benz W196R, which sold for a world record at auction.”

How much might you need? You might want to get a couple of friends to throw in a few bucks as well.

“We expect the car to achieve a considerable seven-figure sum,” Osborne said.

The London newspaper “The Telegraph” predicts the car will sell in the $6.1 million range.”

“This car will set the world record for a Senna car at auction,” Osborne said. “We are as certain as you can be in the auction world.”

While you won’t be able to take the car for a test drive before the auction, it’ll be ready to roar once you pay the price.

“In theory, the buyer could be racing immediately upon receipt of the cleared funds after the auction,” Osborne said. “All systems are primed and ready.”