Business News > Ingenuity Sun Media secures naming rights to Phoenix Raceway
Digital tech company Ingenuity Sun Media (ISM) is to secure the naming rights to motorsport track Phoenix Raceway for 2018.
NBC reports that ISM could pay the venue, which hosts two Nascar race weekends and an IndyCar Series race, up to US$100 million over ten years.
As part of the new deal, the company is to provide digital display screens, a mobile app and a pedestrian tunnel connecting the infield to the stands. ISM will also gain naming rights to one of the interactive entrances.
The move comes after renovations began in February at Phoenix Raceway as part of a US$170 million project due for completion in November 2018.
ISM’s bid for the naming rights adds to a number of moves by the New Jersey-based company into the motorsport industry this year, after it partnered with International Speedway Corporation, owner of Phoenix Raceway, to introduce a 360-degree digital video board network for its 13 tracks. ISM was also the title sponsor of the Nascar Cup Series race at New Hampshire Motor Speedway.
“Without ISM’s involvement, it would have made it very difficult to move forward and make it all come to life,” said Bryan Sperber, president of Phoenix Raceway. “Their capabilities in the world of tech will be on display here. Fans will have a tech-driven, leading-edge experience. We’ll be a showroom for ISM and our fans will be the beneficiaries.”
The Nascar Cup series arrives at Phoenix Raceway on 10th November for the last race weekend before the championship races at Homestead-Miami Speedway.