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| [16 Jun 06] :: Drifters slide into sponsorship |
 Popularity of Drift Racing increases along with the sport's revenue potential.
Full speed ahead, sideways.
For the last 32 years, the Grand Prix Association of Long Beach has organized the city's largest event, the Toyota Grand Prix of Long Beach, and in the past promoted events such as the PPG Firestone Indy Lights Championship and the Mazda Raceway at Laguna Seca.
Beginning this month, the group will begin shopping drift car racing to prospective sponsors after signing a 2 ½-year contract with Irvine-based Formula Drift, Inc. as the latter's exclusive sponsorship marketing agent.
Officials declined to disclose dollar amounts of the partnership — though Association CEO Jim Michaelian said the agreement will generate revenue for his group — focusing instead on the emerging motor sport's growing acceptance in the industry on and off the course.
Enthusiasm continues to mount among audiences who got a glimpse of the sport when the Grand Prix hosted exhibitions and when the 2006 Need For Speed Formula Drift Championship held its first series round in downtown streets. The coveted 18-29 demographic drift racing attracts translates well to prospective sponsors — even if the motor sport requires some explaining to those unfamiliar with it.
Drift racing is a popular Japanese motor sport that crossed over to the United States three years ago. The sport involves controlling a car at high speeds beyond the limits of tire traction as it slides sideways in a closed and marked course. Drivers are judged on their entry speeds, racing lines and clipping points.
“I think what we see happening is that the demographic parameters that defined the sport will begin to expand, and you'll see that level of interest expand to the upper age group,” Michaelian said. “(The sport) is winning a lot of converts to their form of racing.”
He cited the airplay drift racing has received from mainstream media, and, most recently, with the release of the latest installment in the “Fast and Furious” film series. “Fast and Furious: Tokyo Drift,” hits theaters nationwide today.
“When you receive that exposure, that's an indication that the phenomenon is reaching out past a select group,” Michaelian said.
So far, six companies have expressed interest, said Mike Clark, the association's vice president of marketing.
For Jim Liaw, increased sponsorship could mean more growth for the sport and championship series. Before it was organizing drift championship series, Formula Drift, Inc.'s staff of seven began as the marketing team responsible for the D-1 exhibition showcasing Japan's established pro-drifters to a beyond-capacity crowd. When D-1 turned down an offer to franchise their series in the United States, Liaw said his company launched the seven-round Formula Drift series.
“As a small company, it's an issue of cash flow,” he said. “We can't go on financing and investing X' millions of dollars right off the bat. Our growth is very organic. The more sponsors we get, the more investment (we can put in). The more dollars put on the table, the more it will affect how we run our show, and the trickle-down to the (race) teams.”
Formula Drift also continues to push its branding machine — clothes, lanyards, caps and bumper stickers were among the items in its vendor booth during the Grand Prix — and sponsorship ties-in would provide a tremendous boost. So far, the series has 14 sponsors — among them EA Games, whose popular “Need for Speed” video game franchise makes for a thematic tie-in with the series, Circuit City, Mazda and Rockstar Energy Drinks.
Michaelian said the association plans to draw in traditional — tire, wheel, car paint and ancillary driving accessories — and nontraditional — telecommunications and gaming — companies to Formula Drift as part of its marketing strategy.
Source: presstelegram.com | |
posted on 16 Jun 06 @ 06:30
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