ISC Announces Blockbuster 7-Track Geico Deal
International Speedway Corporation has signed an unprecedented partnership with GEICO that will give the insurance giant promotional rights at seven of its premier racing facilities nationwide. Financial terms were not disclosed.
Beginning in 2011, the five year deal will provide GEICO with promotional and entitlement rights for camping areas at: Daytona International Speedway; Darlington Raceway; Chicagoland Speedway; Homestead-Miami SpeedwaySM; Phoenix International Raceway; Talladega Superspeedway; and Watkins Glen International. Under the terms of the agreement, GEICO will receive on-site signage and branding.
“This is a win-win-win for our tracks, GEICO and most importantly, for our race fans,” said ISC Chief Marketing Officer Daryl Wolfe. “We continue to work with existing partners in the sport to find new, innovative and effective partnerships to help them build business and grow their brand. More importantly, we continue to work with our partners to provide our fans with exciting race weekend experiences.”
“Our partnership with ISC is a terrific opportunity to expand the GEICO brand of great rates and excellent service to a wide audience of RV, Motorcycle, and Automobile enthusiasts,” said Tom McNicholas, RV General Manager, GEICO. “We are very much looking forward to the upcoming race season and being on-site at seven of racings elite tracks. The opportunity to communicate with race fans regarding their insurance needs provides benefits for all.”
Despite ISC's third quarter revenue being off by more than 7%, ISC President, John Saunders, is bullish on the prospect for a pick-up in sponsorship activity.
"Corporate partnership activity remains robust with continued demand for our events from corporate America," Saunders said in the Q3 conference call with analysts. "This year, we sold our entire available inventory for our NASCAR Sprint Cup and Nationwide Series events and our IndyCar events. For 2011, we have six entitlements either open or not announced for the 21 Sprint Cup events and six entitlements either open or not yet announced for the 15 Nationwide events."