Sponsorship Advice

Chris "drooze" Wertman · 01-19-2010, 12:04 PM

Ok, here is what Im wondering, is there a "Standard" sponsorship term I should be looking for ? In Drag Racing.....EVERYTHING, and I mean EVERYTHING is different than in bikes....simple..so I can throw most of that away.

We have a Title sponsor, our Main sponsor the car will now be running under their scheme and name, and for that they are paying, they originally wanted a 2 year deal...Im a bit leary of that since if the car does well its value is increased, AND if it does well for them in promotion, which they know it will and after Pomona will be taking the lead on that, then its value to THEM is increased. They are not know in the Drag world, racing yes, everywhere BUT drag really....And they want to tap that market....it will do well for them, since one of their products is what I believe will make us more than competitive.

What I agreed to was a 6 month term starting at Pomona, with a first refusal option for them to re-up after that for the rest of the season. 2011 season to be determined and a whole new negotiation.

Obviously if I were "smart" as everyone will say Ida taken 2 year full deal....but I think the cars potential outweighs underselling it and us. Im a gambler....so is the old man....so that was our thought, we may shoot ourselves in the foot and wish we had a 2 year deal in ink instead of a 6 month deal but....well regrets I have many, I will just add this to the list and go from there.

We NOW Have a company who is interested in "Associate" sponsorship, actually theyd like the whole car as well, but I already have and agreement, so between our Title sponsor, and this Associate sponsor we have ironed out everything detail wise as to how much landscape and placement. The Title Sponsor likes it because the Associate sponsor actually has more promotion experience and whats good for 1 is good for the other since they are 2 different vertical markets.

What I havent ironed out is a term for the Associate sponsor.

Is there a "typical" time frame ? 1 season ? By the quarter ?

Needless to say were "winging it" big time on the sponsorship front and I expected it to be harder, the Title sponsor was all over it when we presented it to them and gave us the verbal ok then and weve since followed it up with paper.

I dont see them being amiable to anymore "Associate" sponsors and for what they are paying to "Own the Image" for 6 months I understand....so I need to make sure to handle the Associate sponsor a little better than "Winging it" with the knowledge if the car does do well they are a competitor for Title sponsorship of the car for the 2011 season.

Any advice on this ? Honest advice, or exaples of your agreements where cash is involved and they are footing bills ?

This is just sooooo much different than bike racing, for the most part we privateered to keep sponsors hands out of the mix, here with our agreements I have ensure that as well as a fixed period....is there anything else I should be looking at ?

01-19-2010, 12:04 PM	#1
Chris "drooze" Wertman VIP Member Join Date: Sep 2009 Location: Barberton Ohio Posts: 1,114 Likes: 0 Liked 0 Times in 0 Posts	Sponsorship Advice Ok, here is what Im wondering, is there a "Standard" sponsorship term I should be looking for ? In Drag Racing.....EVERYTHING, and I mean EVERYTHING is different than in bikes....simple..so I can throw most of that away. We have a Title sponsor, our Main sponsor the car will now be running under their scheme and name, and for that they are paying, they originally wanted a 2 year deal...Im a bit leary of that since if the car does well its value is increased, AND if it does well for them in promotion, which they know it will and after Pomona will be taking the lead on that, then its value to THEM is increased. They are not know in the Drag world, racing yes, everywhere BUT drag really....And they want to tap that market....it will do well for them, since one of their products is what I believe will make us more than competitive. What I agreed to was a 6 month term starting at Pomona, with a first refusal option for them to re-up after that for the rest of the season. 2011 season to be determined and a whole new negotiation. Obviously if I were "smart" as everyone will say Ida taken 2 year full deal....but I think the cars potential outweighs underselling it and us. Im a gambler....so is the old man....so that was our thought, we may shoot ourselves in the foot and wish we had a 2 year deal in ink instead of a 6 month deal but....well regrets I have many, I will just add this to the list and go from there. We NOW Have a company who is interested in "Associate" sponsorship, actually theyd like the whole car as well, but I already have and agreement, so between our Title sponsor, and this Associate sponsor we have ironed out everything detail wise as to how much landscape and placement. The Title Sponsor likes it because the Associate sponsor actually has more promotion experience and whats good for 1 is good for the other since they are 2 different vertical markets. What I havent ironed out is a term for the Associate sponsor. Is there a "typical" time frame ? 1 season ? By the quarter ? Needless to say were "winging it" big time on the sponsorship front and I expected it to be harder, the Title sponsor was all over it when we presented it to them and gave us the verbal ok then and weve since followed it up with paper. I dont see them being amiable to anymore "Associate" sponsors and for what they are paying to "Own the Image" for 6 months I understand....so I need to make sure to handle the Associate sponsor a little better than "Winging it" with the knowledge if the car does do well they are a competitor for Title sponsorship of the car for the 2011 season. Any advice on this ? Honest advice, or exaples of your agreements where cash is involved and they are footing bills ? This is just sooooo much different than bike racing, for the most part we privateered to keep sponsors hands out of the mix, here with our agreements I have ensure that as well as a fixed period....is there anything else I should be looking at ?