OFFICE DEPOT INKS MULTI-YEAR PRIMARY SPONSORSHIP DEAL WITH ROUSH RACING AND CARL EDWARDS Sponsorship of one of NASCAR's Rising Young Star Helps Office Depot Reach More Business Customers Delray Beach, Fla. (July 8, 2005) - In the midst of its...
OFFICE DEPOT INKS MULTI-YEAR PRIMARY SPONSORSHIP DEAL WITH ROUSH RACING AND CARL EDWARDS
Sponsorship of one of NASCAR's Rising Young Star Helps Office Depot Reach More Business Customers
Delray Beach, Fla. (July 8, 2005) - In the midst of its inaugural season in NASCAR, Office Depot (NYSE:ODP), the "Official Office Products Partner of NASCAR" and Roush Racing announced today that Office Depot has signed a new multi-year deal to be the primary sponsor of the No. 99 Roush Racing Ford, driven by Carl Edwards beginning in the 2006 NASCAR NEXTEL Cup season.
"I'm really excited to have Office Depot on board as the primary sponsor of the No. 99 Ford in 2006 and beyond," said Edwards. "I'm proud to represent Office Depot and all of their employees and customers across the country. There is an obvious cross-over between the NASCAR fan base and Office Depot's customers and I'm excited that they've chosen me, Roush Racing and the No. 99 team as their vehicle to communicate their messaging. I know I speak for my entire team when I say we look forward to having Office Depot as a part of our team in the future."
The new sponsorship deal catapults Office Depot to the forefront of the promising career of Edwards, whose early success in NASCAR's NEXTEL Cup Series has earned him recognition as one of NASCAR's hottest young drivers and the sport's newest rising star. Office Depot's foray into NASCAR began this February when the Company announced its sponsorship of Roush Racing's No. 99 Ford that ultimately extended to a total of 17 races for the 2005 NASCAR NEXTEL Cup season.
"We've only been in the sport a few months but we have already seen our relationships with Carl Edwards, Roush Racing and NASCAR drive sales for Office Depot and raise our brand awareness in markets where we have conducted promotional activities and events," said Chuck Rubin, Executive Vice President and Chief Merchandising/Marketing Officer for Office Depot."
Rubin also noted that "our core business customers continue to embrace NASCAR," citing the 100,000 small businesses that entered Office Depot's first national promotion to become the "Official Small Business of NASCAR courtesy of Office Depot" and the early successes of a local NASCAR promotion culminating at this weekend's USG Sheetrock 400 at Chicagoland Speedway on July 10 (NBC 3:35 p.m. EDT).
According to NASCAR, more than six million small business owners call themselves NASCAR fans. Office Depot is leveraging its association with NASCAR to reach out to business customers, the segment responsible for more than 80 percent of the Company's sales on a global basis, across all channels. Rubin added that Office Depot "will look to broaden our reach in the communities where our customers run their businesses, while extending promotions to NASCAR fans through retail and track activities."
"With our customer base and employees wholeheartedly embracing our association with NASCAR, and with Carl fast becoming one of the most exciting young drivers in the sport, we are thrilled that Office Depot will be supporting this winning team in a very meaningful way," said Tony Ueber, Vice President of Marketing Strategy for Office Depot. "Office Depot's decision to expand our relationship with Roush Racing confirms a strategic move we made to redefine our brand and focus more intently on the business customer. NASCAR is the marketing platform that allows us to reach millions of customers each week and communicate directly with them."