VisionAire to Sponsor IRL Event at Charlotte
15 July 1997
VisionAire to Sponsor IRL Event at Charlotte
CONCORD, N.C., July 15 -- First it was the Wright Brothers at
Kitty Hawk and now it's VisionAire at Charlotte Motor Speedway.
VisionAire Corporation, a St. Louis-based manufacturer of the world's
first single-engine, all-composite business jet, will sponsor the inaugural
Indy Racing League (IRL) event on July 26 at Charlotte Motor Speedway.
With VisionAire's title sponsorship, which officials from both companies
announced today, the event will be known as the Inaugural VisionAire 500.
Indy Cars will be making their debut at the 1.5-mile superspeedway, which
is acknowledged in the industry as the "Hub of Stock Car Racing." The Indy
Racing League features the cars and drivers from the world-famous Indianapolis
500.
The sponsorship, which contains a two-year option, represents VisionAire's
first venture into sports marketing. The company plans to utilize the
sponsorship to create brand awareness through product introduction and nurture
key relationships to enhance capital investment support and for corporate
entertainment at the event.
"As a company founded on `firsts,' we are thrilled to be involved with
this first Indy Racing League event in North Carolina, the `First in Flight
State,'" said James 0. Rice Jr., founder and chairman of VisionAire
Corporation.
To showcase the sponsorship, VisionAire will conduct a fly-over of its
full-scale Vantage prototype jet and display the aircraft and full-scale cabin
mock-up at the speedway during race week activities, July 23-26. In addition
to the speedway activities, the aircraft will also be on display at Concord
Regional Airport July 21 and 22.
"Here at Charlotte Motor Speedway, we have been recognized for our vision
in motorsports entertainment and promotion," said H.A. "Humpy" Wheeler,
president and general manager of the speedway. "It is appropriate for
VisionAire to be our partner in presenting this exciting new motorsports
series to the Carolinas and to be introducing its exciting new product at the
same time."
Wheeler also expressed his amazement at the growing importance of aviation
in the motorsports industry.
"Aviation has become a vital part of the motorsports business with almost
every team and several companies, representing all major forms of racing,
utilizing private air travel to meet their busy itineraries."
As the first business jet aircraft designed specifically for middle-market
companies, the VisionAire Vantage is expected to redefine and expand the
business aviation market.
The six-place Vantage offers speed, versatility, comfort and
affordability. It can achieve speeds in excess of 400 mph at altitudes up to
41,000 feet, enabling it to fly over most weather systems. Requiring only a
2,500-foot runway, the Vantage can utilize smaller airports inaccessible to
other jet aircraft. Priced at $1.65 million, the Vantage is approximately
half the purchase price of comparably performing jets and may be operated at
40 percent of the cost of similier aircraft.
VisionAire has more than 65 orders for the Vantage, representing a sales
backlog of more than $100 million. Sales of the Vantage are represented in
29 states domestically and seven countries internationally.
Charlotte Motor Speedway is a multi-use motorsports facility owned and
operated by Speedway Motorsports . In addition to Charlotte Motor
Speedway, Speedway Motorsports owns and operates Atlanta, Bristol and Texas
Motor Speadways and 600 Racing. The company also operates Sears Point Raceway
and is a leading promoter and marketer of motorsports entertainment in the
United States.
SOURCE Speedway Motorsports
