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DATE News (chronologically)
04/13/07
snaponstars
SunTrust official bank of Stars of Karting  A new season begins this weekend for the young racers who participate in the Snap-On Stars of Karting presented by the IRL IndyCar Series, and SunTrust is proud to play a role in helping shape the careers of its highly talented array of competitors as Official Bank of the series for a second year.

Having staked its claim as the “Official Bank of Motorsports” by virtue of its diverse portfolio of high-level racing partnerships within the Indy Racing League, NASCAR, Moto-ST and Grand-Am Rolex Sports Car Series, SunTrust’s involvement with the Stars of Karting series reflects the company’s commitment to also help develop racing and business opportunities for the professional racing world’s future stars. Earlier this year, as part of its nationwide support of youth racing, SunTrust presented a $1,500 scholarship toward participation in the Skip Barber Karting Scholarship Shootout to Caleb Loniewski of St. Louis.

“From the highest levels of professional racing to the entry-level Snap-On Stars of Karting series, SunTrust is committed to bringing its resources and initiatives to all corners of the racing community,” said Craig Kelly, Corporate Executive Vice President, Chief Marketing Officer, SunTrust Banks, Inc. “Whether it’s entry-level motorsports or the top divisions of sports car, motorcycle racing or the premiere venues of the NASCAR NEXTEL Cup Series, the IRL IndyCar Series or the Grand-Am Rolex Sports Car Series, SunTrust is there.”

SunTrust enlisted Wayne Taylor as its ambassador to help educate and mentor the young competitors in the Stars of Karting series. Taylor is a veteran sports car racer whose brand new racing team bears his name and this season took on the responsibility of campaigning the No. 10 SunTrust Racing Pontiac Riley in the Rolex Series. Taylor and veteran Italian driver Max Angelelli co-drove SunTrust to the 2005 Rolex Series championship.

Perhaps no one in racing is more familiar with the motorsports banking expertise of SunTrust as Taylor, who worked closely with the company in developing his fledgling organization late last year.

“SunTrust understands the business of racing,” said Taylor, who in addition to building his own team is heavily involved in developing the young careers of his sons Ricky and Jordan, and Spencer Pigot. “They’ve turned the motorsports industry around by offering financing solutions that are in-tune with the complexities of racing. If it wasn’t for SunTrust, I can’t imagine the transition from veteran driver to team owner could possibly have gone more smoothly.”

With a wealth of experience in operating as a driver and, now, a team owner, Taylor is also well aware of the need for prospective future driving stars to understand there is more to achieving a successful professional career than results on the racetrack. As such, Taylor and SunTrust have prepared a series of primers offering detailed advice to the young Stars of Karting competitors. Subject matter includes “Racing Strategy,” “The Business of Motorsports” and “Youth Financial Education.”

“Young drivers need to understand that the business of motorsports is no different than any other business,” Taylor said. “Likewise, the only way to succeed in the business of motorsports – and life, in general – is to have stable finances. A successful racing career in this day and age is so dependent on a driver’s performance off the track as well as on the track.”

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