FedEx Renews Title Sponsorship Agreement With Championship Auto Racing Teams FedEx Championship Series Roars into 2002 MEMPHIS, Tenn.--Nov. 7, 2001--FedEx Corp. (NYSE:FDX), the world's premier global provider of transportation services ...
FedEx Renews Title Sponsorship Agreement With Championship Auto Racing
FedEx Championship Series Roars into 2002
MEMPHIS, Tenn.--Nov. 7, 2001--FedEx Corp. (NYSE:FDX), the world's premier global provider of transportation services and Championship Auto Racing Teams (NYSE:MPH), the fastest racing series on earth, have announced the renewal of their title sponsorship agreement.
The agreement extends FedEx sponsorship of the "FedEx Championship Series(R)" for up to four years. Financial terms were not disclosed. The sponsorship began in 1998.
"CART is a valuable sports property which has been very effective for FedEx and has provided a multi-media platform to communicate the evolution of FedEx during the last four years," said Brian Philips, FedEx vice president of U.S. Marketing. "The sponsorship also has allowed for incremental revenue as well as significant opportunities to build the brand in more than 200 countries."
As part of the agreement, FedEx will remain the official transportation company of the FedEx Championship Series. This allows FedEx a flexible venue to continue to build the brand both domestically and abroad through advertising, onsite race promotions and customer programs.
CART and its individual teams have come to rely on FedEx for the time-definite shipment of high value engines and other important race parts. In addition to day-to-day business, CART also is an important customer of FedEx Charters using the air service to ship the series to overseas venues in Japan, Australia, Germany and the United Kingdom. FedEx also supports CART with shipping sites at race locations.
"FedEx and CART share natural synergies such as speed, teamwork and reliability that have served both organizations well working in concert since 1998," said Joseph Heitzler, CART President and CEO. "We appreciate the support FedEx has provided CART over the past four seasons and we look forward to continuing to work together to achieve our goal of building the CART FedEx Championship Series into one of the world's leading sports entertainment properties."
The extensive FedEx sports sponsorship portfolio also includes the NFL, FedEx Orange Bowl, FedExField and FedEx St. Jude Classic.
Championship Auto Racing Teams, Inc. (NYSE: MPH) owns, operates and markets the FedEx Championship Series. Champions Michael Andretti, Gil de Ferran and Jimmy Vasser are among the drivers who battle for the FedEx Championship Series title on oval circuits as well as temporary and permanent road courses. CART also owns and operates its top two development series, the Dayton Indy Lights Championship and the Toyota Atlantic Championship. Learn more about CART open-wheel racing series at www.cart.com.
With annual revenues of $20 billion, FedEx Corp. is the premier global provider of transportation, e-commerce and supply chain management services. The company offers integrated business solutions through a network of subsidiaries operating independently, including: FedEx Express, the world's largest express transportation company; FedEx Ground, North America's second largest provider of small-package ground delivery service; FedEx Freight, a leading provider of regional less-than-truckload freight services; FedEx Custom Critical, the world's largest provider of expedited time-critical shipments; and FedEx Trade Networks, a provider of customs brokerage, consulting, information technology and trade facilitation solutions.