Izod Becomes New IndyCar Series Title Sponsor
Phillips-Van Heusen Corporation (NYSE: PVH) announced today a multi-year agreement in principle with the Indy Racing League (IRL), the sanctioning body for the IndyCar Series, for its IZOD brand to become the title sponsor of the newly renamed IZOD IndyCar Series.
The IZOD IndyCar Series, which will mark the League's first title sponsorship since 2001, introduced its new logo and key partnership details today, with additional activation, promotional plans and marketing initiatives to be revealed in the coming months, prior to the start of the 2010 season.
Under the new arrangement, IZOD will also retain its designation as the official apparel partner of the Indy Racing League, which began in 2008. Key elements of the agreement are expected to include multi-year, multi-million dollar activiation programs in several promotional areas.
"The combination of young, dynamic drivers representing over 14 countries, events in key domestic and global markets and its strong American racing heritage make the IndyCar Series a perfect fit for the sport-spirited IZOD brand lifestyle," said Allen Sirkin, President and Chief Operating Officer of Phillips-Van Heusen. "Our involvement with the IRL began shortly after the unification of U.S. open-wheel racing and, despite the recession, we have seen growth and sense the potential for even greater opportunity as the sport is re-energized on the American sports landscape, as well as abroad. We're excited at the opportunity to become the title sponsor of the IZOD IndyCar Series and look forward to taking our partnership with the fastest form of motorsport in the world, along with its 'cars and stars', to a new level of marketing and activation both on and off the track."
"Our relationship with the IZOD brand has been on the fast track since the day we began our partnership in 2008, and we are thrilled they have taken a bigger and more vital role in our sport," said Terry Angstadt, president of the Commercial Division of the Indy Racing League. "Their strong marketing skills, national retail partnerships and ability to bring fresh eyes to the sport have already proven powerful in our short time together. We're confident that we have found a partner with a strong brand, a bright future and a vision for growing the IZOD IndyCar Series that will benefit fans, drivers, teams, owners and tracks."
The move by Phillips-Van Heusen follows a series of recent similar decisions to shift IZOD's marketing mix towards sports and sponsorship activation. In 2008, IZOD was awarded the naming rights for what was then Continental Airlines Arena at the Meadowlands in New Jersey, home of the New Jersey Nets, renaming it the IZOD Center. Phillips-Van Heusen's efforts helped lift the IZOD Center to become the fourth-ranked venue of its kind in North America. Phillips-Van Heusen also recently announced its VAN HEUSEN brand's sponsorship of the Pro Football Hall Of Fame fan vote, a first of its kind for any professional sport.
The 2010 IZOD IndyCar Series, the premier open-wheel racing series in the U.S., showcases some of motorsport's leading personalities, including Danica Patrick, Helio Castroneves, Dario Franchitti, Scott Dixon, Ryan Briscoe and Tony Kanaan, as well as Graham Rahal, Marco Andretti and Tomas Scheckter, heirs to some of auto racing's greatest legends. The 2010 season is scheduled to feature 17 races in the United States, Canada, Japan and Brazil, with the first green flag dropping March 14 in Brazil. The races will be broadcast in high-definition on ABC and VERSUS.
Courtesy of the Izod IndyCar Series
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