CART: Brown & Williamson Signs $50 Million Deal with Team KOOL Green
10 December 1998
|
Bert Kremer, Director, Sponsorship and Promotions for B&W said the agreement represents a major commitment that will provide consistency, continuity and stability for both B&W and Team KOOL Green.
"This agreement is indicative of the mutual benefits that the partnership between Brown & Williamson and Team KOOL Green has yielded over the past three years," said Kremer.
"We believe that this agreement provides both parties with the means of achieving the objectives each seeks from motorsport. Naturally, Barry and his team want to win championships. We at Brown & Williamson have our own objectives, including to improve the image of our KOOL brand, the opportunity to instill pride in our employees, and to give something back to millions of American auto racing fans by helping provide a high quality, entertainment property.
This new agreement exemplifies our enormous confidence in Barry Green, all of the members of Team KOOL Green and in CART open-wheel racing," concluded Kremer.
Andrew Craig, the chairman and CEO of Championship Auto Racing Teams, Inc., echoed Kremer's confidence in the series' future. "In the three years KOOL has been involved in CART racing, they have proven to be one of the most effective and professional sponsors in sport," said Craig. "They understand our medium and know how to make it work for them, while helping to build the series overall. CART is delighted with this announcement. It underscores the return that can be achieved as a sponsor of a top team in Champ Car racing."
Team owner Barry Green also lent support to Kremer's comments, saying that the agreement will provide Team KOOL Green with the long-term security needed to enable the organization to concentrate on its basic objective - winning championships. "The amount of money which will flow to Team Green as a result of the agreement - representing the great majority of the cost of running cars - will spare the team's owners the effort which might otherwise be expended in recruiting several co-sponsors. It is likely that only one co-sponsor will be required to enable the team to operate with full efficiency, free from financial concerns.
"I am especially pleased that the agreement is with KOOL, a brand that recognizes the business value of investments in motorsport," Green commented.
Green also confirmed that Paul Tracy and Dario Franchitti will return to compete for Team KOOL Green in the CART FedEx Championship Series in 1999. Tracy signed a three-year agreement while Franchitti has committed for two more years with the team - the 1999 and 2000 racing seasons.
"Having Paul and Dario return as our drivers will make Team KOOL Green even stronger 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 victory at Vancouver, B.C. and then had yet another victory in the inaugural Houston Grand Prix. He finished third in the overall championship and earned five pole positions during this season - the most of any single driver.
Green also announced that Jonny Kane, a 25-year-old native of Ireland, will truly be 'wearing of the green,' as he has joined the team and will compete in the Indy Lights program.
"Based on his past success and other indicators, Jonny should prove to be a very successful addition to the team," Green said. "Jonny has been a champion in every formula he has contested during his career which began with the 1990 season. His 1996 and 1997 achievements were typical."
In 1996, Kane was third overall in the British F3, with three wins, five poles, and five fastest laps; also that year, he finished second overall in the Marlboro Masters of F3, known as the unofficial European F3 title race. All of these accomplishments were achieved while Kane was driving for Paul Stewart Racing.
Last year, Kane won the British F3 championship, earning three wins, four poles and four fastest laps, again all with Paul Stewart Racing. This year, Kane attempted to compete in F3000, but budget restraints cut his season short.
Green commented that "Success has come quickly for KOOL when you consider this is only the company's third year sponsoring open-wheel racing and only the second in the FedEx Championship Series for the PPG cup. KOOL was involved in Indy Lights in 1996.
"The successes achieved are remarkable when compared with those of other sponsors who have accomplished much less despite significantly longer involvement in major sponsorships."
Green pointed out that "any motorsport team program, if it intends to be successful over time, must devote a good deal of effort to developing drivers.
"In that regard, we feel that our driver development program, as conducted in the past, produced some very impressive future Champ Car divers. Having achieved excellent results with that approach, we are now revising our objectives.
"Specifically, in the near future all of our available driver development resources will be directed towards assisting one or two of the most outstanding prospects realize their full potential. These prospects will receive the team's complete support."
Editors Note: The images displayed in this article (plus many more) can be viewed in The Racing ImageGalleries and the Visions of Speed Art Gallery.
