| | LAKE BUENA VISTA, Fla. -- Just a few months after the Indy Racing League announced it was taking its former series sponsor, Pep Boys, to court for allegedly reneging on a sponsorship agreement, the IRL is back in business with a major announcement Saturday.
The IRL announced a five-year, $50 million series sponsorship
agreement with Northern Light Technology, a leading Internet
search engine. The series will now be known as the Northern
Light Indy Racing League Series and is the first long-term
marketing and media partnership between a major auto racing
series and an Internet company.
The agreement includes a $1 million purse to the series champion. Also, $500,000 in driver awards will be disbursed at IRL events, beginning with Saturday's Delphi Indy 200 at Walt Disney World. Northern Light will also promote the IRL on
broadcast media, the Internet, consumer promotions and through
its business marketing programs. These efforts are intended to
promote awareness for the IRL.
"Today's announcement is a major step forward for our series," said Tony George, president of the Indianapolis Motor Speedway and founder of the Indy Racing League. "Northern Light's commitment increases the forward momentum of our series and is a genuine marketing and media partnership for both of our groups.
"Northern Light will work with the Indy Racing League with a
tremendous range of cross-promotional opportunities, linking our
growing series with the increasing important of the Internet.
Northern Light's ability to grow the series to a whole new
audience is a very positive development, and we are very excited
to be associated with this industry leader."
One of the major complaints the IRL had with Pep Boys was its
lack of advertising and promotion. A key part of this
sponsorship is advertising and promotion of the IRL.
"This partnership gives us a platform for major growth, using
the growing Internet power of Northern Light and the promise of
Indy Racing. It is a great way to start the 2000 season."
David Seuss, the CEO of Northern Light Technology, said the IRL
fits into Northern Light's image.
"Indy Racing is the embodiment of power, speed, technology and
competition," Seuss said. "There are few, if any, entertainment
brands with the worldwide marketing power of the Indianapolis
500, which is the largest single sporting event in the world.
Northern Light is excited - no, make that thrilled - to work
with an organization that has the tradition, brand strength,
marketing platform, public appeal and vision of the future that
the Indy Racing League brings to its sponsors."
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