What has Zak Brown done for the IRL lately?
In a groundbreaking agreement where JMI leveraged its insider knowledge and relationships, LG Electronics will enjoy the following designations within F1:
LG Electronics – A Technology Partner of Formula 1
LG Electronics – Official Consumer Electronics of Formula 1
LG Electronics – Official Data Processor of Formula 1
LG Electronics – Official Mobile Phone of Formula 1
LG Electronics – A Global Partner of Formula 1
In addition to the designations, LG Electronics will enjoy a myriad of benefits including but not limited to exclusive global on-screen branding credits during F1 races.
Let's see, the IRL is paying Just Marketing good money to find it a title sponsor and where does Zak Brown send LG? To F1 of course.
With that said, LG probably preferred to go with a global series that hits markets around the world, rather than just the USA based IRL's Canada and Mexico market. LG will be sitting pretty when F1 announces the date of its first race in South Korea. That deal was already signed.
The IRL will draw few large companies that sell products around the world. The focus of the IRL is the USA market and USA sponsors. However those sponsors have far better options in NASCAR and elsewhere, as the IRL is quickly finding out…..i.e. all sponsors have backed away from a title sponsor deal.
"Adding LG Electronics as a JMI client is a fantastic achievement and we are justifiably proud," said Zak Brown, Founder and CEO of JMI. "Guiding LG to such a groundbreaking global F1 sponsorship has been a privilege," he added. "We cannot thank LG Electronics enough for their trust and confidence in us. "Likewise, we would like to thank Bernie Ecclestone and his FOM team for their foresight and effort in completing this long-term agreement."
"JMI clearly demonstrated to LG why they are the leading global motorsports marketing agency," said Dermot Boden, EVP and Chief Marketing Officer of LG. "We were seeking a sponsorship differentiator that would serve as a great platform to express our brand proposition 'of innovative technology and stylish design in perfect harmony' and JMI delivered a very creative customized solution for us with F1. As we undertake this exciting new sponsorship we will be working closely with JMI in planning our activations worldwide."
"In challenging economic times, Zak Brown and JMI have again demonstrated their leadership," said Bernie Ecclestone, president and CEO of Formula One Management. "Based on their representation of Lenovo, Johnnie Walker, Hilton Hotels and others in F1, there is no doubt they will effectively guide LG Electronics to success in their sponsorship objectives."