US: Coke bumps Pepsi off the track in speedway deal
The Coca-Cola Co has won a tender to become the exclusive soft drink and water provider and sponsor at 10 racetracks served by rival Pepsi by 2012 under a multimillion dollar deal announced with International Speedway Corp.
International Speedway Corp announced the deal with Coca-Cola North America (CCNA) yesterday (9 July). Specific financial terms were not released.
Under the terms of the agreement, CCNA brands will become the official soft drink, official sparkling beverage and official water for 10 of ISC's motorsports facilities; as well as the Daytona 500 Experience.
Beginning in January 2008, the partnership will include the Daytona International Speedway, including race entitlement rights for the facility's July NASCAR Nextel Cup and Busch series events; the Daytona 500 Experience; Chicagoland Speedway; Homestead-Miami Speedway; Kansas Speedway; Michigan International Speedway and Richmond International Raceway.
The relationship will extend to Darlington Raceway in 2009, Talladega Superspeedway and Watkins Glen International in 2011, and Phoenix International Raceway in 2012.
"This new relationship ranks among the most significant marketing partnerships in ISC history," said ISC president Lesa France Kennedy. "It also further demonstrates the significant value of our asset base including premier facilities, events, intellectual property and operational support services. We welcome Coca-Cola to the ISC family and we look forward to a long and successful relationship."
"While Coca-Cola has enjoyed a storied history in auto racing, today marks a exceptional milestone as Coca-Cola, the world's number-one sparkling beverage, will soon be served at Daytona International Speedway, home of 'The Great American Race,' as well as some of the finest facilities in all of motorsports," said Sandy Douglas, president, Coca-Cola North America. "Together with our bottling partners at Coca-Cola Enterprises, we look forward to refreshing race fans at ISC properties with the greatest beverages in the world, and creating best-in-class marketing programs with ISC that bring fans even closer to the sport they love."
Under the new agreement, CCNA beverages will be served exclusively at the facilities by Americrown, ISC's catering, concessions and merchandising subsidiary, and by other facility concessionaires. In addition, CCNA will leverage its marketing expertise to create a variety of programs featuring ISC properties both at-track and wherever racing fans enjoy their favourite sport.
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