Pennzoil, Texaco, Indeck Latest U.S. 500 Sponsors
HOMESTEAD, Fla. (Feb. 6, 1996) -- Pennzoil, Texaco and Indeck are the latest to join the growing list of sponsors of the inaugural U.S. 500, event general manager Rena Shanaman announced Tuesday in a press conference at the Metro-Dade Homestead Motorsports Complex.
Pennzoil and Texaco furthered their commitment to the series by backing the new race scheduled for May 26 at Michigan International Speedway in Brooklyn, Mich. Pennzoil is the primary sponsor for the Hall Racing Team and Texaco co-sponsors the Newman-Haas Racing Team, and sponsors three other races in the PPG Indy Car World Series.
Indeck is involved as an associate sponsor for Forsythe Racing.
"We are pleased to be an active sponsor of the inaugural U.S. 500,'' said Tom Floyd, Pennzoil's senior vice president of products marketing, "and we're looking forward to an exciting race."
The companies paid $200,000 each for the sponsorship, which includes an array of promotional rights including television. The race is being broadcast live on ESPN.
"Texaco is pleased to be a sponsor of the inaugural U.S. 500,'' said Chuck Kosich, Texaco's director of advertising and sales promotions. "Michigan International Speedway has always provided excellent competition and has been good for our Texaco drivers. Michael Andretti won for us there in 1989, and Mario [Andretti] still holds the single-lap track record he set in 1993.''
It was the third announcement of new race sponsors during the first two days of Spring Training at the Metro-Dade Homestead Motorsports Complex , and has pushed the number of commitments to five. Mercedes-Benz and Toyota pledged their sponsorship to the U.S. 500 on Monday.
"It is rather fitting that we have enjoyed some major-league sponsor announcements during Spring Training,'' Shanaman said. "Their support will help us in producing a stellar show during the Memorial Day weekend.''
The U.S. 500, which will feature the sport's premier drivers on the world's fastest track, will kick off May 10-12 with practice and qualifying at the 2-mile Michigan International Speedway. The field will vie for a $3.6 million purse.
The PPG Indy Car World Series opens its season March 3 with the Marlboro Grand Prix of Miami at the Metro-Dade Homestead Motorsports Complex.