INDIANAPOLIS, May 22 /PRNewswire/ -- With the 84th running of the
Indianapolis 500 just days away, fans and corporate sponsors alike are converging on the Indianapolis Motor Speedway, driving what was voted America's most popular auto race to new levels of success.
New young stars, new team sponsors, a new engine and chassis program, and a new, five-year television contract with ABC and ESPN are among the many factors spurring the growth of America's premier open-wheel, oval-track racing series and its marquee event, the Indianapolis 500.
The field for the 84th running of the Indianapolis 500 is one of the best in history. Defending Indy Racing Northern Light Series champion Greg Ray is on the pole with CART champion Juan Montoya starting second. Two-time Indy winner Al Unser Jr. will race in the Indianapolis 500 for the first time in six years. Nineteen-year-old Sarah Fisher will make her Indianapolis debut as the third -- and youngest -- woman ever to run in the race. She is joined by Lyn St. James in the field as two women will start at Indy for the first time.
Other top names in the field include 1998 Indianapolis 500 champion Eddie Cheever Jr., 1996 Indianapolis 500 winner Buddy Lazier, Scott Goodyear, Mark Dismore, Jimmy Vasser, Scott Sharp, Eliseo Salazar, Jeff Ward, Robbie Buhl and Robby McGehee.
Corporate involvement in the 84th Indianapolis 500 continues to increase. This year, more than 15 new companies, including Nokia, Delco Remy and AniVision have become involved in the Indianapolis 500, joining current sponsors such as Coors Brewing, Delphi, Firestone, MBNA, Oldsmobile and Pennzoil.
"The Indianapolis 500 is the premier event in auto racing," said Bob Reif, Senior Vice President of Sales and Marketing & Chief Marketing Officer for the Indy Racing Northern Light Series. "No other event has the history, prestige, attendance and worldwide appeal of the Indianapolis 500. This year, we offer our corporate partners even more -- a great field, a new television package, a new series sponsor, and an expanded facility with new corporate entertainment areas. We are working hard to make the Indianapolis 500 and the Indy Racing Northern Light Series the best value in racing sponsorships, and companies are recognizing this increased value."
More than 350,000 fans will attend the event, making it once again the largest single-day sporting event in the world. Not only do these fans come to cheer their favorite drivers, they spend an average of $195 for lodging, travel, food, tickets and souvenirs, providing an tremendous economic impact for the entire city, according to Chicago-based motorsports analyst Tim Frost, President of Frost Motorsports. Frost has done economic and financial consulting with the motorsports industry for 15 years.
As the host to three of the largest sporting events in the world -- the Indianapolis 500, the Brickyard 400 and the inaugural United States Grand Prix at Indianapolis -- the Indianapolis Motor Speedway will create an estimated $240 million in economic impact this year, Frost said.
The fifth season of the Indy Racing Northern Light Series kicked off Jan. 29, 2000, in Orlando, Fla., and series founder Tony George's dream is moving full speed ahead. The series has seen double-digit revenue growth each year since 1996, and is well on its way to continuing in 2000. Sponsor support has grown 43 percent, and the number of teams competing in the series has
increased to 30 in 2000 from 16 in its inaugural season. The scheduled racing events have grown from five in 1996 to nine in 2000. By 2005, league officials forecast 18 events on the annual circuit.
"The Indy Racing Northern Light Series offers sponsors tremendous potential for increasing visibility among key customers at a very affordable price," said David Seuss, CEO of new series sponsor Northern Light. "We've been approached by almost every racing series, but the value of the sponsorship, the quality of the racing and the interaction with other sponsors is second to none. The momentum of the series is very attractive, with new sponsors -- from traditional companies to dot.coms -- coming in, fan interest and attendance on the rise and what promises to be a fantastic Indianapolis 500."
Additional sponsors are joining the Indy Racing Northern Light Series while current partners are expanding their involvement as the series grows and matures. Just this season, Tickets.com, Starz, Excite@Home, EDS, Purex, AniVision and OnStar have announced primary and associate sponsorships of top teams and drivers such as Unser, Cheever, Ray and Dismore. Long-term
partners, such as Coors Brewing, MCI WorldCom, Pennzoil, Oldsmobile, Firestone, Harrah's, Energizer and Lycos, continue to find the Northern Light Series one of racing's best values.
Since the series' first season in 1996, the number of sponsors has nearly doubled and, according to IEG, sponsorship revenue has increased more than 18 percent in just the last year. The growth among high-tech sponsors has been even more dramatic. In 1998, high-tech companies represented only 10 percent of the total sponsors of Indy Racing. Just two races into the 2000
season, the ratio of high tech sponsors has grown to 33 percent.
The total exposure value gained by Indy Racing Northern Light Series sponsors increased 50 percent from $99 million in 1996 to more than $143 million in 1999. On average, per-event sponsor exposure for the Northern Light Series in 1999 was $12.9 million, following only NASCAR in exposure value. Sponsors saw this exposure translate to increased traffic and sales,
with Firestone and Coors reporting double-digit sales increases in key markets and MCI WorldCom recording a substantial return on investment.
As the Indy Racing Northern Light Series expands its circuit and its drivers develop a track record, auto racing fans are embracing the league. Since 1996, attendance at events rose 13 percent to more than 1.3 million in 1999. Series experts predict attendance will top 1.5 million this year, with more than 40,000 fans attending the Orlando race and a marked increase in
attendance at the Phoenix and Las Vegas races.
Race fans also are tuning in to watch the broadcasts on ABC or ESPN, or listening on the Indy Racing Radio Network. Viewership increased from nearly 18 million in 1996 to more than 21 million people in 1998. The Indianapolis 500 remains one of the most popular televised sporting events each year, and is broadcast in 12 languages to 66 countries and territories worldwide, with the potential to reach more than 313 million homes.
With all of the Indy Racing Northern Light Series events in 2000 scheduled for live coverage on ABC or ESPN, the series begins its fifth year of competition with its strongest television package ever. Activity at the Indianapolis Motor Speedway in May is covered extensively.
In 1999, ABC, ESPNand ESPN2 combined to provide more than 41 hours of live television coverage during a two-week period during the Indianapolis 500. That total has increased in 2000, as ESPN2 kicked off the three networks' Indy coverage with its Opening Day show May 13. Live daily updates and coverage of PPG Pole qualifying, Bubble Day, Coors Carburetion Day and the 84th Indianapolis 500 round out their May programming.
