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©1998 SpeedCenter Internet Publishing, Inc. with Team KOOL Green Louisville, KY. (December 9, 1998) - Brown & Williamson Tobacco Corporation(B&W) announced today that it has reached an agreement with Barry Green,owner of Team KOOL Green, under which B&W will invest more than $50 millionsponsoring the team over a three-year period through the 2001 season. Bert Kremer, Director, Sponsorship and Promotions for B&W said theagreement represents a major commitment that will provide consistency,continuity and stability for both B&W and Team KOOL Green.
"We believe that this agreement provides both parties with the means ofachieving the objectives each seeks from motorsport. Naturally, Barry andhis team want to win championships. We at Brown & Williamson have our ownobjectives, including to improve the image of our KOOL brand, theopportunity to instill pride in our employees, and to give something backto millions of American auto racing fans by helping provide a high quality,entertainment property. This new agreement exemplifies our enormous confidence in Barry Green, allof the members of Team KOOL Green and in CART open-wheel racing," concludedKremer. Andrew Craig, the chairman and CEO of Championship Auto Racing Teams, Inc.,echoed Kremer's confidence in the series' future. "In the three years KOOLhas been involved in CART racing, they have proven to be one of the mosteffective and professional sponsors in sport," said Craig. "They understandour medium and know how to make it work for them, while helping to buildthe series overall. CART is delighted with this announcement. Itunderscores the return that can be achieved as a sponsor of a top team inChamp Car racing." Team owner Barry Green also lent support to Kremer's comments, saying thatthe agreement will provide Team KOOL Green with the long-term securityneeded to enable the organization to concentrate on its basic objective -winning championships. "The amount of money which will flow to Team Greenas a result of the agreement - representing the great majority of the costof running cars - will spare the team's owners the effort which mightotherwise be expended in recruiting several co-sponsors. It is likely thatonly one co-sponsor will be required to enable the team to operate withfull efficiency, free from financial concerns. "I am especially pleased that the agreement is with KOOL, a brand thatrecognizes the business value of investments in motorsport," Greencommented. Green also confirmed that Paul Tracy and Dario Franchitti will return tocompete for Team KOOL Green in the CART FedEx Championship Series in 1999.Tracy signed a three-year agreement while Franchitti has committed for twomore years with the team - the 1999 and 2000 racing seasons. "Having Paul and Dario return as our drivers will make Team KOOL Green evenstronger for next season," said Green. Tracy, a 29-year-old, has achieved 13 career victories. Franchitti, 25,earned his first win (the first for the KOOL team at the Champ Car level)at Elkhart Lake, Wis., in August, then followed immediately with a victoryat Vancouver, B.C. and then had yet another victory in the inauguralHouston Grand Prix. He finished third in the overall championship andearned five pole positions during this season - the most of any singledriver. Green also announced that Jonny Kane, a 25-year-old native of Ireland, willtruly be ‘wearing of the green,' as he has joined the team and will competein the Indy Lights program. "Based on his past success and other indicators, Jonny should prove to be avery successful addition to the team," Green said. "Jonny has been achampion in every formula he has contested during his career which beganwith the 1990 season. His 1996 and 1997 achievements were typical." In 1996, Kane was third overall in the British F3, with three wins, fivepoles, and five fastest laps; also that year, he finished second overall inthe Marlboro Masters of F3, known as the unofficial European F3 title race.All of these accomplishments were achieved while Kane was driving for PaulStewart Racing. Last year, Kane won the British F3 championship, earning three wins, fourpoles and four fastest laps, again all with Paul Stewart Racing. This year,Kane attempted to compete in F3000, but budget restraints cut his seasonshort. Green commented that "Success has come quickly for KOOL when you considerthis is only the company's third year sponsoring open-wheel racing and onlythe second in the FedEx Championship Series for the PPG cup. KOOL wasinvolved in Indy Lights in 1996. "The successes achieved are remarkable when compared with those of othersponsors who have accomplished much less despite significantly longerinvolvement in major sponsorships." Green pointed out that "any motorsport team program, if it intends to besuccessful over time, must devote a good deal of effort to developingdrivers. "In that regard, we feel that our driver development program, as conductedin the past, produced some very impressive future Champ Car divers. Havingachieved excellent results with that approach, we are now revising ourobjectives. "Specifically, in the near future all of our available driver developmentresources will be directed towards assisting one or two of the mostoutstanding prospects realize their full potential. These prospects willreceive the team's complete support." Source: Team Kool Green | ||
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