Team Penske announced the extension and expansion of its relationship with wireless provider Verizon, adding more years to its deal for the No. 12 entry driven by Will Power and an eight-race sponsorship package for Juan Montoya’s No. 2.
“Verizon has been a terrific partner for Team Penske and we are excited to continue to grow our relationship with them in 2014 and beyond,” said team owner Roger Penske. “Verizon’s technology and marketing activation has meant so much to Team Penske and the sport of IndyCar racing and we look forward to building on this special partnership in the future.”
With diminished television ratings making it exceptionally hard for teams to ink new sponsorship contracts, Verizon’s choice to continue marketing its services in the IndyCar Series is significant. The brand has been one of the leaders in activating and marketing its involvement with the sport, building numerous ad campaigns around Power and his No. 12 Chevy.
By adding the popular Montoya to the mix for eight races, Verizon has created another opportunity to increase its return on investment, and with the team set to field all three of its entries carrying Verizon colors at the inaugural Grand Prix of Indianapolis road course race in May, the brand appears to be making a concerted push to grow its presence in open-wheel racing.