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Latest MARKETING and COMPANY NEWS 2010
3.09.10
Action Resources Ltd assists contracted race-drivers, riders and teams to compete by helping them with commercial and sponsorship matters and with generating sustainable strategic partnerships. This Section of "Late Braking News" brings to you some of the latest information regarding global business and marketing matters that may be of interest:
Ferrari has had to recall 1,248 458 Italia models after five of its new £170k supercars have burst into flames during the past few weeks. The incidents have been reported from California, China, France and Switzerland. The fault is said to involve the glue which has been used to secure the car's wheel-arch lining to the chassis. According to the factory at Maranello, the glue has been overheating in really hot weather and catching alight when the vehicle has been driven for a sustained period at high speed (September 2010).
The oil and gas giant Petronas will continue to sponsor the Malaysian GP for the next 5 years (September 2010).
The Enstone-based Renault F1 Team is welcoming two financial services organisations to its sponsorship roster, Bank Snoras and EFG International. Team Chairman, Gerard Lopez, commented: "Bank Snoras adds a further dimension to our significant commercial efforts in Eastern Europe. The Bank has been active for 17 years and has over 1,000 employees in Lithuania, Latvia and Estonia". Meanwhile, Keith Gapp (EFG's Head of Strategic Marketing & Communications) said: "We have a strong focus on historic motor-racing, sponsoring such events as the Le Mans Classic. It's exciting to be able to complement this, for the remaining races of 2010, with the cutting-edge and excitement of Formula One" (September 2010).
Mad Croc - whose parent company is Energy Brands Ltd. - was founded in Finland in 2004 but is now based in the UK. It is active as a sponsor in rallying and the GT1 Championship and has just signed a deal with the Sauber F1 Team which will see the energy food and drinks manufacturer's name appear on the rear wing end-plates and front nose cones of the Ferrari-powered Saubers (driven by Kobayashi and de la Rosa) for the remainder of this season (September 2010).
UBS has announced a deal with Bernie Ecclestone whereby the Swiss Bank will become a global sponsor of Formula One, alongside existing Spanish banking partner, Santander. UBS was one of the biggest victims of the recent financial crisis; the Bank lost tens of millions of pounds and required a massive injection of funds by the Swiss authorities to prop it up. Zak Brown's Just Marketing International concluded the initial 5-year deal which is thought to be worth up to US$40 million annually (August 2010).
Lotus has announced what it calls the ultimate track-day car with its new F1-inspired T125 model. The machine has a 3.5-litre Cosworth engine, a 'push-to-pass' button, a 6-speed semi-automatic sequential gearbox (with paddles) and weighs just 650kg. Only 25 examples are to be produced (August 2010).
According to 'The Daily Telegraph', Shanghai Automotive (SAIC), has sold 47,000 new Roewe 550 cars (designed in Britain by a team still located at Longbridge near Birmingham) in China in the first half of 2010, representing a 70% sales growth. Furthermore, the new MG6 that is about to roll off production lines at Longbridge will spearhead SAIC's new push into Europe. The car is said to be going on sale in the UK at the end of this year in some 40 Dealers across the country (August 2010).
The outdoor recreation retailer, Gander Mountain, will serve as the primary sponsor for Stavola Labonte Racing's number ten NASCAR racer, driven by Terry Labonte. The fledgling team, co-owned by Bill Stavola and Labonte, will attempt three races in the 2010 NASCAR Sprint Cup Series, with Gander Mountain serving as the team's primary sponsor, at Richmond, Charlotte and Texas. Financial details of the new deal were not revealed but industry sources estimate that the new agreement is worth US$800,000 (August 2010).
NASCAR racing team, Richard Childress Racing, will receive sponsorship of some US$15 million thanks to the father of their new driver, Paul Menard. The Menard family's Wisconsin-based Company operates the third largest home improvement chain in the USA. Meanwhile, Budweiser has officially announced their expected sponsorship deal with Childress. This will see Kevin Harvick's Chevrolet No. 29 car carry the iconic branding of Anheuser-Busch's flagship beer brand (August 2010).
Rolls-Royce, the wholly-owned subsidiary of BMW, says that production at its Goodwood plant has reached the highest levels since manufacturing started there in 2003; first-half sales worldwide were up by almost 200%. Renault reports a 21.6% rise in car sales in the first half, boosted by growth in emerging markets such as Brazil and North Africa. The Volkswagen subsidiary, Audi, has said that it sold 554,950 cars in the first half of 2010, a 19.1% year-on-year rise, as demand increased in China, the United States and the UK. Honda Motor of Japan has raised its full-year forecasts after posting a record quaterly net profit; Honda is Japan's second-largest automaker. The Company is, however, wary of slowing growth in its markets in the USA and China. In South Korea, Kia Motors has posted a 61% rise in quarterly net profit (August 2010).
The lighter brand Zippo has been confirmed as the title sponsor of the NASCAR Nationwide Series race at Watkins Glen International in a new multi-year deal. The 3-year extension (thought to be worth US$600,000 in total) will see the event continue to be known as the Zippo 200 until 2013 (August 2010).
Quick Trim has signed a deal that will see it sponsor Graham Rahal in five IndyCar Series races following his return to Newman/Haas Racing - the brand deals in products "designed to jump-start metabolism and burn calories 300% faster then the human body would do naturally" (August 2010).
The Australian V8 Supercar Series will sit alongside the Melbourne round of the F1 World Championship for at least the next five years (July 2010).
It has been reported in the USA that IMG lost $4.6m in endorsement income as a result of the personal issues surrounding golfer, Tiger Woods (July 2010).
The 2011 IndyCar Series will include a race at the New Hampshire Motor Speedway, marking the return of single-seaters to the venue for the first time since 1998. Meanwhile, IndyCar has signed a deal with car rental firm, Avis, to become an official supplier to the Series. This sponsorship will be one of the key elements of the Avis 'Cool Cars' Collection, which includes Camaros, Corvettes, Mustangs and other sportscars for rent (July 2010).
The German car manufacturer BMW is the main sponsor of the IBU (International Biathlon Union) World Cup and the IBU World Championships (July 2010).
Red Bull has signed a deal to become naming rights sponsor of Central Stadium, Leipzig (July 2010).
2010 Daytona 500 winner Jamie McMurray attracted the Unilever brand Sauve as his primary sponsor for the No. 1 Earnhardt Ganassi Racing Chevrolet in the NASCAR Sprint Cup event at New Hampshire International Speedway on 27 June 2010.
The world's fourth largest car manufacturer, Hyundai Motor Company, is to sponsor the El Paso Sun Bowl, an annual college football game played in Texas, in a 4-year deal said to be worth 'an annual low seven-figure sum' (June 2010).
Porsche Motorsport, which runs several one-make national championships (such as the Carrera Cup GB which forms part of the BTCC programme in the UK) as well as the international Porsche Supercup, has confirmed its sponsorship portfolio for 2010. Porsche has extended its longstanding contracts with ExxonMobil and with Michelin. Mobil1 will continue as the title sponsor of the Supercup Series, which runs on the Sunday morning of each European Formula One Grand Prix. Porsche GB Scholarship winner, Euan Hankey (who is managed by Roger Phillips of Action Resources Ltd.), is racing in the British GP round of the Supercup in the 450bhp Porsche 911 GT3 Cup machine. Porsche is also renewing its deals with the Adidas, Brembo, BT Bremsen Technik, Darboven, Emitec, Rolf Benz, Stand 21, Ultimate and WMF brands. Several new partnerships have also been announced, most notably with the electric shaving products manufacturer Braun (which becomes the sponsor of the VIP car in the Porsche Mobil1 Supercup and will debut at Silverstone on 11 July). "We are delighted that our partners keep their trust in motor-sport as an effective marketing and business platform around the Porsche brand," commented Florian Kurz, Porsche Motorsport's Head of Business Relations (June 2010).
Virgin Racing (the F1 Team) has signed a sponsorship deal with LG Electronics which will see LG supply products to the Team both trackside and at its British factory. LG already has a significant presence in Formula One as the sport's official global technological partner (June 2010).
One of the ever-present teams in the NASCAR Truck Series (since its inception in 1997), Circle Bar Racing, is said to have effectively 'closed its doors'. Should sponsorship be forthcoming, the team (run by Rick Crawford) says that it will re-open its race shop at Harrisburg, North Carolina (June 2010).
Birmingham-based English Premier League football team Aston Villa has announced a long-term multi-million dollar sponsorship deal with FxPro, who also sponsor the Williams F1 Team. The 3-year deal (from July 2010) is thought to be worth around US$15m and it means that FxPro replaces local children's hospice Acorns on the shirts of 'Villa' players. However, the former ground-breaking association between Aston Villa and Acorns (the largest provider of hospice care for life-limited children in the UK) will continue in a different form, with Acorns becoming the Football Club's official charity. FxPro has made a separate commitment to support the Acorns Charity too. FxPro has also added a deal with Premier League soccer Club, Fulham, to their roster (June 2010).
The world's largest car rental firm Hertz has announced a 5-year contract extension as the official transport provider for The Wimbledon Lawn Tennis Championships, taking the partnership into its 20th season. The fleet will feature 164 Ford vehicles (June 2010).
The England and Wales Cricket Board (ECB) has confirmed that the luxury car manufacturer Jaguar is to become the official vehicle supplier to the England Cricket Team. The 4-year deal is said to be worth US$500k annually and England's cricketers will be driving around in Jaguar's XJ, XK or XF models. In return, the Indian-owned Company will enjoy a range of 'exclusive commercial rights', including the use of England players for promotional appearances, international hospitality packages, the option to purchase international tickets, programme advertising and signed merchandise (June 2010).
Following this year's Indy 500 race, the Indy Racing League has announced two new sponsorship deals, with Sunoco Inc. and Z-Line Designs. Sunoco is to be the official fuel of the IRL, the IZOD IndyCar Series and the Firestone Indy Lights championship from 2011-14. The Philadelphia-based company has committed an annual US$2m to the partnership, which it will use to promote cleaner-burning fuels. Z-Line Designs is already a sponsor of Dreyer & Reinbold Racing and their British driver from Sheffield, Justin Wilson. Z-Line has now agreed a deal worth US$500,000 per annum to become the official home office and entertainment furniture company of the IZOD IndyCar Series and Firestone Indy Lights (June 2010).
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