INDYCAR INTRODUCED AS NEW BRAND NAME FOR CHAMPIONSHIP AUTO RACING TEAMS, INC.
INDYCAR INTRODUCED AS NEW BRAND NAME FOR CHAMPIONSHIP AUTO RACING TEAMS, INC. DEARBORN, Mich., Feb. 19 /PRNewswire/ -- "IndyCar" was introduced today by Championship Auto Racing Teams, Inc. as the new brand name for its series. "IndyCar" will supersede the "CART" acronym as the sport's official name. "We are evolving into a full-service sports entertainment company," said William Stokkan, chairman and CEO of Championship Auto Racing Teams, Inc. "The introduction of the 'IndyCar' brand name and its colorful new logo represents the latest step in the transformation of our organization from a sanctioning body providing only rules and referees, to a business-savvy marketing organization worthy of America's event-marketing investments." The contemporary new red, white and blue "IndyCar" logo features the new brand name, accompanied by a sleek rendering of a driver in the open cockpit of his race car. "IndyCar" is a descriptive and accurate name for our exciting, high- speed, high-tech product," said Stokkan. "The new 'IndyCar' brand name and logo visually communicates the sport's position as the preeminent American motorsport -- a motorsport with American heritage and international appeal, and a sport that is established, yet progressive." "As seen at our racing events," Stokkan continued, "the new 'IndyCar' logo will be displayed in ways which endorse our racing series and its unique image in the world of sports and entertainment." The new logo will be prominently featured on all team, driver and "IndyCar" officials' uniforms and vehicles, as well as on all officially licensed "IndyCar" products and marketing materials. All "IndyCar" teams, sponsors and promoters are expected to gradually phase out usage of the old "CART" logo during 1992, and fully utilize the new "IndyCar" trade dress on all materials by the start of the 1993 PPG IndyCar World Series season. Championship Auto Racing Teams, Inc. will remain the organization's corporate name, and will continue to provide marketing, promotion, licensing, television production and other services to its sponsors, teams and promoters. "Championship Auto Racing Teams, Inc., is a wonderful corporate name, but 'Indycar' is the perfect name for our sport," concluded Stokkan. "IndyCar's" annual schedule of events will be known as the PPG IndyCar World Series. The first "IndyCar" event of the 1992 season, the Daikyo IndyCar Grand Prix, will take place March 19-22 in Surfers Paradise, Queensland, Australia. Championship Auto Racing Teams, Inc. is the sports and entertainment organization that governs the PPG IndyCar World Series. In 1991, IndyCar racing had its most successful season to date, achieving new records for competition, television audiences, on-site attendance, and prize money distributed to drivers and teams. -0- 2/19/92 /NOTE: Logo sheets are available on request from CONTACT: Steve Weiss, 212-370-4242, or Dave Elshoff, 313-334-8500, both of Championship Auto Racing Teams, Inc./ CO: Championship Auto Racing Teams, Inc. ST: Michigan IN: AUT SU:
DH -- DE001 -- 0283 02/19/92 09:03 EST
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|Date:||Feb 19, 1992|
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