IndyCar Gets New Title Sponsor In IZOD

November 5, 2009 4:03 p.m. EST

Indianapolis, IN (AHN) - Phillips-Van Heusen Corporation agreed in principle today to a multi-year agreement with the Indy Racing League for IZOD to become title sponsor of the IndyCar Series. IRL, the sanctioning body for the IndyCar Series, confirmed the series new name will become the IZOD IndyCar Series. "The combination of young, dynamic drivers representing over 14 countries, events in key domestic and global markets and its strong American racing heritage make the IndyCar Series a perfect fit for the sport-spirited IZOD brand lifestyle," said Allen Sirkin, President and Chief Operating Officer of Phillips-Van Heusen. "Our involvement with the IRL began shortly after the unification of U.S. open-wheel racing and, despite the recession, we have seen growth and sense the potential for even greater opportunity as the sport is re-energized on the American sports landscape, as well as abroad.

"We're excited at the opportunity to become the title sponsor of the IZOD IndyCar Series and look forward to taking our partnership with the fastest form of motorsport in the world, along with its 'cars and stars', to a new level of marketing and activation both on and off the track," he added. The move marks the first time since 2001 that the series had a title sponsor. Under the new arrangement, IZOD will retain its designation as the official apparel partner of the Indy Racing League, which began in 2008. IRL's two television partners - ESPN on ABC and VERSUS - should bring IZOD the marketing pull that it seeks with the agreement. "Our relationship with the IZOD brand has been on the fast track since the day we began our partnership in 2008, and we are thrilled they have taken a bigger and more vital role in our sport," said Terry Angstadt, president of the Commercial Division of the Indy Racing League.

"Their strong marketing skills, national retail partnerships and ability to bring fresh eyes to the sport have already proven powerful in our short time together. We're confident that we have found a partner with a strong brand, a bright future and a vision for growing the IZOD IndyCar Series that will benefit fans, drivers, teams, owners and tracks," he added. The move follows IZOD's shifting of its marketing mix towards sports and sponsorship activation.

In 2008, IZOD got the naming rights for to the then Continental Airlines Arena at the Meadowlands in New Jersey, home of the New Jersey Nets, renaming it the IZOD Center.