Courtesy of CART Online
Federal Express Signs Title Sponsorship Agreement With Championship Auto Racing Teams
CART Online (December 9) -- Federal Express Corp ("FedEx") and Championship Auto Racing Teams (CART) today announced details of a new title sponsorship agreement based on the many synergies between the two organizations. The newly established "FedEx Championship Series" aligns two strong global brands recognized for their teamwork, technology, speed and reliability.
"The FedEx Championship Series represents an excellent opportunity to showcase the FedEx brand to a unique segment of the market," said David Shoenfeld, vice president, marketing, U.S. and Canada, Federal Express. "It's a natural fit. Both organizations rely on high-performance teamwork and leading-edge technology to beat the competition."
The FedEx Championship Series will allow FedEx and CART simultaneous brand-building opportunities through promotions, advertising and customer entertainment programs on a local, national and international level.
"The stature of FedEx lends credibility and awareness to CART racing," said Andrew Craig, President and CEO, CART. "This agreement will enable both organizations to help each other strengthen our brands around the world."
As part of this relationship, FedEx will become the official transportation company of the FedEx Championship Series. In a sport in which timely delivery and accessibility is vital, FedEx will transport critical parts and equipment to each race of the series-in five countries on four continents. FedEx will deliver the cars for races in Asia and Latin America. Federal Express and CART reached a three-year agreement with an option for a fourth year to establish the FedEx Championship Series. This agreement bolsters Fed Ex's sports sponsorship portfolio, which includes the FedEx Orange Bowl, the FedEx St. Jude Golf Classic and the Benetton Formula One Racing Team.
CART's 800-plus horsepower championship cars are capable of speeds exceeding 240 miles per hour and are driven by some of the world's leading drivers, including Michael Andretti, Al Unser, Jr., Bobby Rahal, and 1997 champion Alex Zanardi.
The 19-race FedEx Championship Series season begins March 15 in Florida.
Federal Express connects areas that generate 90% of the world's gross domestic product in 24-48 hours with door-to-door, customs-cleared service with a money-back guarantee. The company's unmatched air route authorities and infrastructure make it the world's largest express transportation company, providing fast and reliable services for more than 2.9 million items in 212 countries each working day. The company employs approximately 137,000 people and has more than 42,500 drop-off locations, 590 aircraft and 38,500 vehicles in its integrated global network. FedEx maintains electronic connections with more than 750,000 customers via FedEx Powership, and FedEx interNetShipSM.
Federal Express reported revenues of $11.5 billion for its fiscal year ended May 31, 1997.