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V8 Supercars will "rejoin the ranks of major sports with title sponsorship" of their main competitions later this year after securing a multi-million dollar naming rights deal, according to Mark Fogarty of the SYDNEY MORNING HERALD.
Unlike the Australian Football League, National Rugby League and A-League premierships, the V8 Supercars Championship has not had a title sponsor "for 15 years and no main series backer for the past three seasons."
Previous V8 management had "eschewed branding" of the national championship in favor of non-naming rights commercial partnerships, but since the appointment of former TV Exec James Warburton as CEO in mid-'13, "the series has actively pursued a title sponsor."
At the season-opening Adelaide 500, Warburton "confirmed a five-year agreement" had been signed for naming rights sponsorship of the V8 Supercars Championship starting in July. Warburton said, "It's done. The sponsor won't be announced for another few months and the deal is not effective until July 1."
Described as "a big-name consumer brand," the new naming rights sponsor is expected to "help raise the profile of V8 Supercars racing adding a new level of promotion." The naming rights deal through mid-'21 is understood to be worth at least A$5M ($3.7M), "providing a further financial boost to V8 teams," which share in the annual profit of the sport.
V8 Supercars is "also adding more partner sponsors on the back of strong media exposure." Japanese truck maker Hino signed a three-year deal with the series last month, and "new multi-year agreements with a fast food chain and an insurance company will be announced soon." SMH.
Armor All announced a renewal of its agreement as the official car care products partner of the V8 Supercars for the '16 season.
The renewal will continue to see Armor All sponsor the Armor All pole position award. The relationship between Armor All and V8 Supercars has grown since its inception in '05, with the portfolio including naming rights to the Armor All qualifying at every championship event, the Armor All pole position award and the Armor All top 10 shootout.
The brand will remain the official car care products partner of the Dunlop V8 Supercars series this year. V8 Supercars