Verizon to quit as IndyCar title sponsor, remain with Penske

Verizon’s title sponsorship of the IndyCar Series will not be renewed when its five-year agreement ends in 2018, it was confirmed today, but Team Penske has revealed its partnership with the telecommunications conglomerate will continue.

Verizon to quit as IndyCar title sponsor, remain with Penske
Verizon signage
Verizon phone
Will Power, Verizon Team Penske Chevrolet
2017 champion Josef Newgarden, Team Penske Chevrolet celebrates
Roger Penske
Will Power, Penske Racing
Verizon booth
Simon Pagenaud, Team Penske Chevrolet celebrates Verizon P1 pole award

Mark Miles, CEO of Hulman & Company which owns IndyCar, told the SportsBusiness Journal: “We truly appreciate the significant resources, both financial and technical, that Verizon has invested in IndyCar.

“Our series and sport have benefited across a variety of fronts as a result of our work together and they have been great partners.”

However, Miles told Motorsport.com that while he appreciated Verizon’s involvement, he was positive that IndyCar would find a strong partner for 2019 and beyond.

“We have ample time to pursue the next entitlement sponsorship,” he said. “We have a lot of momentum on the track and with fan engagement metrics, which gives us cause for optimism.”

Meanwhile, Team Penske has confirmed its relationship with Verizon, which began in 2009, would continue.

That first season, Verizon sponsored the team’s one-year foray into the now-defunct Grand Am sports prototype series, as well as two races (Long Beach and the Indy 500) in Will Power’s part-time IndyCar campaign with the team.

When Penske then signed Power full-time for 2010, it was with Verizon as his primary sponsor, a relationship that remains to this day. The company has also had regular outings as primary sponsor on the #3 car of Helio Castroneves and the #2 car of first Juan Pablo Montoya and then Josef Newgarden.

Team owner Roger Penske said in a statement: “We want to thank Verizon for the support they have provided the IndyCar Series and the leading role they have played as they helped us grow the sport as the title sponsor for the past five years.

“Verizon has helped the series reach new fans through their world-class activation and technology, including the Verizon IndyCar Mobile App.

"While they will no longer be the series title sponsor after 2018, it is exciting they will still be in the sport through their relationship with our organization.”

shares
comments
IndyCar working to “eliminate randomness” from races

Previous article

IndyCar working to “eliminate randomness” from races

Next article

Newgarden: Screen, not Halo, is the right solution for IndyCar

Newgarden: Screen, not Halo, is the right solution for IndyCar
Load comments
Remembering Dan Wheldon and his last and most amazing win Prime

Remembering Dan Wheldon and his last and most amazing win

Saturday, Oct. 16th, marks the 10th anniversary Dan Wheldon’s death. David Malsher-Lopez pays tribute, then asks Wheldon’s race engineer from 2011, Todd Malloy, to recall that magical second victory at the Indianapolis 500.

IndyCar
Oct 16, 2021
Have Harvey and RLL formed IndyCar’s next winning match-up? Prime

Have Harvey and RLL formed IndyCar’s next winning match-up?

Jack Harvey’s move to Rahal Letterman Lanigan Racing sparked plenty of debate, but their combined strength could prove golden, says David Malsher-Lopez.

IndyCar
Oct 15, 2021
Why Kyle Kirkwood is America's new IndyCar ace-in-waiting Prime

Why Kyle Kirkwood is America's new IndyCar ace-in-waiting

Kyle Kirkwood, the record-setting junior formula driver, sealed the Indy Lights championship last weekend. But despite an absurdly strong résumé and scholarship money, his next move is far from clear. By David Malsher-Lopez.

IndyCar
Oct 6, 2021
2021 IndyCar title is just the start for Ganassi's newest star Prime

2021 IndyCar title is just the start for Ganassi's newest star

Alex Palou has captured Chip Ganassi Racing's 14th IndyCar drivers' championship, and in truly stellar manner. David Malsher-Lopez explains what made the Palou-Ganassi combo so potent so soon.

IndyCar
Sep 28, 2021
Why Grosjean's oval commitment shows he's serious about IndyCar Prime

Why Grosjean's oval commitment shows he's serious about IndyCar

One of motorsport’s worst-kept secrets now out in the open, and Romain Grosjean has been confirmed as an Andretti Autosport IndyCar driver in 2022. It marks a remarkable turnaround after the abrupt end to his Formula 1 career, and is a firm indication of his commitment to challenge for the IndyCar Series title  

IndyCar
Sep 24, 2021
IndyCar’s longest silly-season is still at fever pitch Prime

IndyCar’s longest silly-season is still at fever pitch

The 2021 IndyCar silly season is one of the silliest of all, but it’s satisfying to see so many talented drivers in play – including Callum Ilott. David Malsher-Lopez reports.

IndyCar
Sep 11, 2021
IndyCar young guns are great, but the elders aren’t done yet Prime

IndyCar young guns are great, but the elders aren’t done yet

The ace 20-somethings in IndyCar have risen to become title contenders, but the best of the series veterans are digging deep and responding – and will continue to do so over the next couple of years, says David Malsher-Lopez.

IndyCar
Aug 20, 2021
The F1 champion who became an Indy king in his second career Prime

The F1 champion who became an Indy king in his second career

Emerson Fittipaldi’s decision to go racing with his brother led to him falling out of F1, but he bloomed again on the IndyCar scene. NIGEL ROEBUCK considers a career of two halves

Formula 1
Jul 31, 2021