IRL to announce major new sponsor

UPDATE IndyCar commercial Director Terry Angstadt said that while a deal for a new “mega activating" sponsor—potentially as big as series title sponsor, Izod—is coming together a little slower than expected, he anticipates an announcement before year’s end.

“We’re awfully close to that category exclusive announcement," Angstadt said. “That announcement could come before Thanksgiving."

And that’s not all. Angstadt today is headed to Brazil, where he will meet with Apex Brasil officials, and hopes to sign two new sponsors.

“We hope to sign two letters of intent," Angstadt said. “That would make this trip a real success."

09/30/10 Rumor has it that Verizon, because of Sprint being the NASCAR title sponsor preventing other phone carriers from participating, will move most or all of their sponsorship money in NASCAR to IndyCar. Here are some quotes backing the rumor:

Commercial division president Terry Angstadt:
“It will be a category-exclusive deal with mega activation," said Terry Angstadt, president of IRL’s commercial division. “It will rival the promotion done by our series title sponsor, Izod. So it’s very exciting."

Angstadt said he couldn’t say what category the new sponsor will fill because “that would give away who it is." He expects the as-yet-announced sponsor to be at full speed with the open-wheel race series for the 2011 season.

Furthermore, Just Marketing’s Zak Brown was quoted as saying
“Izod has been extremely active in taking the IndyCar brand to the mainstream public," said Zak Brown, president of Just Marketing International, a Zionsville-based motorsports marketing consultancy. “They’ve put millions of dollars into marketing IndyCar, which is just what the series needs."

“I’ve not heard anything about an impending deal myself, but if it's on par with Izod, that’s certainly good news, especially in this economic environment," Brown said.