The Indianapolis Business Journal’s blog, The Score, posted an interesting piece today, contending the many changes at the Indianapolis Motor Speedway have things moving in the right direction. Among those, its focus on giving more value and opportunity to its corporate partners is targeted as a momentum shifter. What’s more, it mentions that our former chairman, Andre Lacy, is now playing a prominent role on the Speedway’s board.
We’re excited to see IMS racing toward a bright future — not just because it’s an Indiana Chamber member, but because it’s such an instrumental figure in the history and future of our great state. IBJ writes:
Tony George is no longer head of the operation. But he is on the board. This is a board that has in recent years decided to significantly expand itself beyond familial borders.
Shortly after George was replaced by Belskus in 2009, several board members were added to the mix, notably LDI Chairman Andre B. Lacy and former Anthem Chief Financial Officer Michael L. Smith. Before that move, the board was largely run by Mari Hulman George, her three daughters, and son, Tony.
Indiana Pacers President Jim Morris and Central Indiana Corporate Partnership CEO Mark Miles, who chaired the 2012 Super Bowl Host Committee and is former CEO of the ATP Tour, were added this year, as was Belskus.
When I asked Lacy why he had been added to the board overseeing the Speedway, he deadpanned: “Everybody needs a boss.”
It was clear, the inner circle had been broadened by a new thinking—and a new level of checks and balances.
At first, Belskus seemed awkward in public and uncomfortable with the media. Quickly it became apparent he was serious about following the new board’s primary objectives: Cut expenses and raise revenue…
Last year, Belskus hung corporate signage along pit lane. This year, he made the bold move to sell wall space in turns three and four to Fuzzy’s Ultra Premium Vodka and Shell Oil Co. It was the first time such ads were hung at the Brickyard.
Also this year, NTB, a national car service and retail outlet, will have signage in the grass at turn one and signage will be hung on the back of existing video boards. Also firsts at the vaunted Speedway.
IMS’ opening up of areas previously off-limits to advertisers has created a swell of interest among marketers. In addition to Fuzzy’s, Speedway officials signed new deals this year with Continental Tire, Nissan, Visit Florida, First National Bank of Omaha, 5-Hour Energy, Farmers Insurance, Nationwide and Banana Boat.
Belskus told IBJ he expects a strong double-digit increase in sponsorship sales this May at the track and a possible 10-percent plus increase in total revenue for this year’s Indianapolis 500 over last year.
IMS Chief Sales and Marketing Officer Mike Redlick said “there’s been a change in philosophy” at the track. At the heart of the change, said Speedway executives, is creating an event that is more friendly toward the track’s corporate partners.
From a very early age, most of us were exposed to corporate sponsorships, usually in the form of sports. We proudly wore the name of a local business across our chest as we played tee ball or flocked after a soccer ball like ducklings following their mother.
Though we might not have considered the ramifications of what we wore, we served as tiny advertisers for the business community and owning an “Iggy’s Ice Shack” T-shirt undoubtedly reminded us where we had to go to get that snow cone for which we longed.
Off the baseball field and in the business world, sponsorships of conferences and seminars are a great way to hit your target audience. You sell safety products? Why not grab the attention of an entire conference of safety enthusiasts by sponsoring registration bags for the 2009 Indiana Safety and Health Conference and Expo?
You’ll be surprised how a room full of adults will clamor over a tote-bag with your company’s logo on it like children for a lump of sugary ice.
If you’re interested in sponsorship opportunities with the Indiana Chamber, contact Jim Wagner.