Clothes retailer Izod has extended its US motorsport sponsorship portfolio by signing a major agreement with the Team Penske. The company, already title sponsor of the Indycar Series in which Penske competes, will be the primary sponsor of Ryan Briscoe’s car at several races next season, including the prestigious Indianapolis 500. It will also be an associate sponsor of all three Team Penske cars throughout the 2011 season.

Allied to a previously announced deal with Shell/Penzoil, Izod will form a major part of Penske’s new sponsorship portfolio following the end of its longstanding partnership with Marlboro at the end of 2010.

“Team Penske is excited to build this new relationship with Phillips-Van Heusen,” said Roger Penske, referring to Izod’s parent company. “As we saw in 2010, they have put the full strength of their Izod brand behind growing the sport of Indycar racing and we believe they will be a terrific partner with our teams and drivers for years to come.”

The team did not announce how many races of primary sponsorship the deal includes, but did confirm that the 2011 season finale, at a yet-to-be-announced venue, does form part of the arrangement.

"The IZOD brand's Team Penske sponsorship is a strategic decision to continue to build brand equity in the IZOD IndyCar Series and we are honored to join forces with such a storied operation," said Mike Kelly, Phillips-Van Heusen’s executive vice president of marketing. "We intend to leverage this partnership to expand the reach of our brand not only through the relationship with Team Penske but also through cross-promotional activities with Team Penske's other sponsors.”

The 2010 season was the first in which Izod’s name was attached to the Indycar Series as a title sponsor.

Source: SportsPro