V8 Supercars fail to pick up a sponsor - again

[NewsStalker]

Surprised that no one has picked this up yet.

Melbourne's 3AW was reporting on thei 5:30 and 6:00 am news today that the V8 Supercar event at the AGP has again failed to pick up a naming sponsor and that, consequently, the Victorian taxpayers will be forking over $1 million for the 'right' to stage the event at the GP.

With all; the hoopla about how good the categopry is, why is it that no one is willing to become a sponsor for one round or, indeed, the entire series?

GTR - how much longer are they going to be able to run like this?

[cptkablamo]

How many sponsers does the series need??? or what kind of outrageous cost are they asking? Pretty sure other series can run races without title sponsorship, so why not the V8s?

[NewsStalker]

This report is saying $1 million (I did state that...).

Regardless of how much it shows the confidence corporates in Australia have for the series. It also suggests that they have placed too high a value on themselves.

[Denosaur]

Originally Posted by cptkablamo

How many sponsers does the series need??? or what kind of outrageous cost are they asking? Pretty sure other series can run races without title sponsorship, so why not the V8s?

Not the series, it's the AGP. In most cases they sell the naming rights to that categories racing for the weekend, and somewhat cover the costs of having that category there. This is what they hope for in theory thou......

So looks like no one wants to touch the V8 races, as I would say there is a substantial mark up, plus at the same time television coverage could be in the question.

Mind you it could all be publicity stunt to catch the ears of any company owners, executives or marketing managers to get them to come on board at the last minute????

[NewsStalker]

Denosaur - what you say (about what they may be trying to do) is most likely the case BUT there is a side effect to this which is inadvertantly putting another nail into the coffin that the Albert Park AGP is fast building for itself.

With Victorian Premier Brumby already admitting that after last years $35 million loss this year was already heading for a loss of around $40 million. OK, so the V8's are only 'another million' but this is a million that WASN'T being taken into account 2-3 months ago when Brumby made this admission.

Obviously the AGP Corp are going to have to cover this (I would gather it is in any contract with the V8's, but there are two ramificaitons now:

1. The AGP is closer to being dead in the water
and
2. Unless a sponsor can be found it could also seal the fate of the V8's coming back for the last 2 years of the AGP.

[Tourer]

Originally Posted by NewsStalker

Surprised that no one has picked this up yet.

Melbourne's 3AW was reporting on thei 5:30 and 6:00 am news today that the V8 Supercar event at the AGP has again failed to pick up a naming sponsor and that, consequently, the Victorian taxpayers will be forking over $1 million for the 'right' to stage the event at the GP.

With all; the hoopla about how good the categopry is, why is it that no one is willing to become a sponsor for one round or, indeed, the entire series?

GTR - how much longer are they going to be able to run like this?

Well the series is sponsored of course, by TWO platform sponsors - Big Pond & fourex so it in effect has two naming rights sponsors. The two platform sponsor structure has been in place for quite a few years now.

I can understand the difficulty that the Grand Prix Corporation (it is them trying to find sponsorship) have in getting a sponsor for this stand alone race when the series is so strongly sponsored elsewhere and the AGP itself has so much sponsorship overall the sponsor of one category is going to get very little value for their money.

[cptkablamo]

Doesn't sponsorship money go back to Bernie anyway???

V8s have to pay the fee so that doesn't really matter (unless GP Corp agreed to something to say the V8s could come for free and then pay came from sponsorship)...

GP already costs a huge amount of money, so is this really an issue - or different from the past?

[NewsStalker]

Big Pond and XXXX are both stated as not being the major series sponsor. from memory when BigPong came on board this was pointed out and made quite clear that whenb/if a Series Sponsor came along these other big sponsor would remain as they currently were.

[NewsStalker]

Whether the money goes to BE or TC doesn't matter - the V8's have put a price on their head, no one is willing to come along and pay that price so (without any us seeing the contract) it has to be presedumed that the GP Corp has to pay the money to V8SCA - or IOW the taxpayers.

Is it really an issue? Yes - its bad enough taxpayers having to foot a $35 or $40 million loss on an event that is increasingly getting more expensive for no more return - then the V8's come in and push that loss up even higher.

[Axeman444]

Bigpond and XXXX are sponsors of the V8 Championship. The F1 GP is not a round of the Championship, so therefore they are not sponsors at that particular event for the V8's unless there is a secondary sponsorship arrangement over and above the Championship sponsorship

[banksie]

Originally Posted by NewsStalker

Whether the money goes to BE or TC doesn't matter - the V8's have put a price on their head, no one is willing to come along and pay that price so (without any us seeing the contract) it has to be presedumed that the GP Corp has to pay the money to V8SCA - or IOW the taxpayers.

Is it really an issue? Yes - its bad enough taxpayers having to foot a $35 or $40 million loss on an event that is increasingly getting more expensive for no more return - then the V8's come in and push that loss up even higher.

The AGP corp. are paying the V8's to attend the event. The AGP corp. are the ones chasing more sponsorship dollars, and might still do a deal. Not many firms find value in sponsoring a one-off event. The price the AGP are after may be a reason why no sponsor has been found.

The V8's have been invited back, they haven't just come in. The AGP corp. are hoping a greater crowd will show up as a result.

For a lot of mud slinging going on here, the AGP corporation seems to be getting off lightly. The V8's have very little to do with this.

[Timu]

It dosen't look like the inagural Hamilton 400 will have a naming rights sponsor either!

Unbelievable. This will be NZ's biggest annual sporting event! Come on corporate New Zealand, get your name out there!

[peckstar]

it sure does have a sponsor Timu. its called Hamilton. the placemakers 400 hardly promotes hamilton does it.

I had a read of Pro Racers 2009 drivers lists and its much more accurate than half the "news" NewsStalker has created here

[NewsStalker]

peckstar - you can't help yourself can you? Considering this was being carried on a main stream news service the 'news' wasn't created just commented on.

But of course, anything that remotely criticises your beloved V8's isn't correct, is it?

[peckstar]

i recognise it was carried (poorly reported too) by the major news service, but you have created stuff that was not in the article and have encoraged the blatant errors in the article

If you truly had a knowledge of the V8 series then you would have knocked that article for the errors that were in it and not created more stuff to encorage the myth


I failed to see your comments when the v8s picked up two new sponsors this year, one of them a sponsor from outside v8s and one of them a minor development sponsor has stepped up as a round sponsor, one only inagines that you fail to notice the positives.

[MPA]

A sad day for Victorian Taxpayers.... More money we could be spending on dredging Port Phillip Bay and choking a few more dolphins.

And not the 1st time the V8s have failed to have a naming sponsor. We must thank Bob Jane for putting his money into Bathurst. Another huge event that failed to find favour with Corporate Aust. I hope Supercheap continue the current arrangement and someone offers a few bucks a the last minute to cover some of the costs at The Puddle.

[bludvl_x19]

Originally Posted by NewsStalker

Surprised that no one has picked this up yet.

Why are you so surprised? \/

Originally Posted by NewsStalker

Melbourne's 3AW was reporting on thei 5:30 and 6:00 am news today that the V8 Supercar event at the AGP has again failed to pick up a naming sponsor and that, consequently, the Victorian taxpayers will be forking over $1 million for the 'right' to stage the event at the GP.

With all; the hoopla about how good the categopry is, why is it that no one is willing to become a sponsor for one round or, indeed, the entire series?

GTR - how much longer are they going to be able to run like this?

Theres your answer. Who is up at that ungodly hour?!?!?


Mick

[peckstar]

MPA you forgot to mention we could also give more to overseas companies to run out watersupply instead of building a dam on a river that has flooded twice in the last 12 months for quarter of the price.

I must admit that at a cost of 40 million the GP is starting to cost too much. something needs to be done to reign in the costs

its interesting that according to those numbers in the article the Clipsal pulls only a million dollars less in sponsorship and corporate money. and yet in a typical year the SA government only kick in 2-3 million not 40 million (if they kicked in 40 million we could get free tickets

[MPA]

Yes Peck. I Too share your concerns with overseas companies running our water. The day some o/s company gets to run a water recycling plant is the day I stop drinking.

And 40 million for the muddle in the puddle needs addressing.

[NewsStalker]

Melbourne's 3AW was reporting on thei 5:30 and 6:00 am news today that the V8 Supercar event at the AGP has again failed to pick up a naming sponsor and that, consequently, the Victorian taxpayers will be forking over $1 million for the 'right' to stage the event at the GP.

OPSM have specials on this month - I suggest you avail yourself of them.

[NewsStalker]

Mick - not just at that time just the time I heard it. But, for others sake, heres a link

Despite months of publicity, the lure of big-name drivers such as Craig Lowndes and an adoring Aussie fan base, the V8 race has no corporate backing.

In the past, sponsors such as Mattel and Netspace have kicked in about $400,000 towards the race, which insiders say costs between $1 million and $1.5 million to run.

[D.R.T.]

It is a concern that for whoever is trying to land a sponsor for the v8 race at Albert Park, cant.

Whether the return of the event will have any impact on tv or attendance is yet to be known, but its obvious it hasnt had any impact in terms of companies getting behind the event.

One wonders whether the ridiculous Holden vs Ford joke of a format at the AGP has anything to do with corporations treating this aspect of the AGP as the bubonic plague.

[GTRMagic]

Originally Posted by Tourer

Well the series is sponsored of course, by TWO platform sponsors - Big Pond & fourex so it in effect has two naming rights sponsors. The two platform sponsor structure has been in place for quite a few years now.

I can understand the difficulty that the Grand Prix Corporation (it is them trying to find sponsorship) have in getting a sponsor for this stand alone race when the series is so strongly sponsored elsewhere and the AGP itself has so much sponsorship overall the sponsor of one category is going to get very little value for their money.

What happened to Netspace, and all their lovely promotional ladies.. who made a trip to the V8Paddock a pleasure

The $1m is likely to include the payment to VESA for allowing the V8's to appear on their calendar. It is a lot for a one-off event... but if you believe the media-inspired dream, the F1 mechanics hang off the pitwall when the V8s are out to play...

An idea... why cant AVESCO events (or whatever it is called now..) subcontract the running of the AGP??

[Just Do It!]

Originally Posted by peckstar

it sure does have a sponsor Timu. its called Hamilton. the placemakers 400 hardly promotes hamilton does it.

Ummm, I could be wrong, but Hamilton is one of 7 Platinum(??) platform sponsors. They don't at this time appear to be the Naming Rights sponsor, which apparently still has a lot of irons in the fire.

You MIGHT see a Naming Rights sponsor unveiled in April as part of the event activities kicking off.

[Tourer]

Originally Posted by NewsStalker

Big Pond and XXXX are both stated as not being the major series sponsor. from memory when BigPong came on board this was pointed out and made quite clear that whenb/if a Series Sponsor came along these other big sponsor would remain as they currently were.

Sorry Newstalker, but you couldn't be more wrong - you've got that totally incorrect.

The two are platform sponsors (as was VB before XXXX) and are incorporated into the series logo as. They were always announced as series sponsors - I was at the news conferences.