Izod sponsorship positive step for struggling IRL

A press conference scheduled for 2:00pm ET Thursday in Indianapolis will be the launch of the Indy Racing League's new sponsorship era. Phillips-Van Heusen's Izod clothing brand is expected to announce a five-year title sponsorship deal for the IRL's IndyCar Series that is likely to be worth at least $10,000,000 per year over five years.

The Izod sponsorship is the first title sponsor for the IndyCar Series since Internet search and marketing company Northern Light bowed out following the 2002 ICS campaign. Previously, the ICS had been sponsored by automotive giant Pep Boys.

The title sponsorship is a significant step for the IndyCar Series and the IRL, as the global recession has struck hard at automotive interests generally and harder still at the motorsports industry. Even top-dollar racing teams find that securing new sponsorship and retaining current sponsors is far more difficult than in past years.

Since Northern Light's departure, the IRL has been kept afloat largely by the George family under the auspices of Tony GeorgeTony George, the IRL's former CEO and founder. Major funding for the series came from profits derived from the Indianapolis Motor Speedway, supplemented by the George family themselves.

Izod debuted in the IndyCar Series in the 2009 season with one of the largest advertising campaigns in the series' 14-year history. The company was the primary sponsor for American driver Ryan Hunter-Reay but also initiated an official clothing line for the league as well as heavy media saturation with its "lifestyle" ads.

The ICS title sponsorship promises to continue the "lifestyle" trend instead of going the route of traditional racing sponsorships. This continues a trend in the IndyCar marketing arena of moving away from functional and business-to-business sponsor deals and embracing an attitude-based fan activation. Previous campaigns in this genre included the hiring of KISS bassist Gene SimmonsGene Simmons to promote a "rock stars in rocket ships" concept surrounding the series.

The Izod IndyCar Series will contest 17 oval track, road course, and street circuit events in 2010, including the world-renowned Indianapolis 500 on May 30.