INDYCAR Plans ‘Major’ Announcement

INDYCAR is expected to make an announcement this morning about a new title sponsor. The open-wheel racing circuit has been seeking a replacement for IZOD, which ended its sponsorship agreement after last season. Sports Business Journal has reported the new deal is expected to be a 10-year, $100 million package with Verizon. The communications company would have an out clause after five years.

The IndyCar Series Twitter feed says an announcement is expected at 9:30 eastern time.

A media call with Hulman & Co. Chief Exeuctive Officer Mark Miles and Hulman Motorsports Chief Revenue Officer Jay Frye is scheduled for 10:30.

Source: Inside INdiana Business, INDYCAR, Sports Business Journal