With the previously announced Master License Agreements in place and the TagBrand partnership announced here today, Arena Racing USA is poised for extraordinary growth and will fulfill the opportunity to connect national sponsors and advertisers with local communities in a meaningful way that has not been accomplished to date through national auto racing
Richmond, VA and Boise, ID (PRWEB) July 13, 2008
Arena Racing USA and TagBrand announced today the signing of a Master License Agreement. TagBrand was recently formed by a consortium whose combined capabilities are ideally suited to support Arena Racing USA as it emerges as a global, brand-driven media platform. TagBrand's executives include Paul Thornton, Cord Pereira and Brad Surkamer, who will also draw upon their established organizations including Thornton and Group, BrandEntertain and Closed Loop Marketing.
The agreement provides TagBrand the rights to market, sell and support licenses as a "Preferred Licensing Agent" within the Northwest USA, and non-exclusively in the United States. The parties also have executed a definitive terms sheet in May of this year which also provides for the launching of two licensed markets in 2009, an opportunity to make an equity investment in Arena Racing USA corporate, and provide ongoing strategic advisory services in designing the Arena Racing League's digital media platform and sponsorship models.
"We are excited about having an experienced sports team operator and event promoter to help roll out the Arena Racing League," stated Joe Gibbs of Joe Gibbs Racing, a NASCAR Team Owner. "The original investor group is excited about the potential of this agreement, it's new markets and what it brings to both Arena Racing USA and TagBrand," stated Gary Becker, former CEO of PACE Motor Sports.
"The Arena Racing model is an exciting and versatile entertainment property that has all the elements for sustained financial success in local communities," said Paul Thornton, co-manager of TagBrand. Thornton points to low ticket prices, lower operating costs, year-round race scheduling and grassroots promotion and engagement by race teams and drivers, as key elements for affordable family entertainment.
"It is always exciting for me to see the vision of Arena Racing USA being fulfilled through these partnerships," stated Ricky Dennis, Founder and League President. "We are very excited about the agreement reached with the TagBrand partnership, not only does it strengthen our belief in the Arena Racing USA business model and League, but it will add to our execution capabilities and provide the basis for development of the other business model elements in our digital media platform," stated Bob Keane, CEO of Arena Racing USA.
"Arena Racing is not only exciting for fans, it's unique indoor format represents a new promotional channel for racing brand sponsors to extend their national message right into local, grassroots programs," said Cord Pereira, co-manager of TagBrand. "For a racing brand sponsor, Arena Racing connects the dots between national and local to reach consumers in an additive way."
Arena Racing USA consists of an exceptional investor group of Joe Gibbs of Joe Gibbs Racing, Tom and Norm Miller of Interstate Batteries, Gary Becker formerly of PACE Entertainment and operating leadership of Bob Keane, CEO and Ricky Dennis the founder of Arena Racing USA. Arena Racing is a unique indoor half scale stock car racing league which is poised for explosive growth over the next few years both domestically and internationally. This unique family entertainment product fundamentally serves the needs of sports league operators, arena owners, race car drivers and teams, fans and national sponsors in a nationwide sports league. Please visit us on the web at ArenaRacingUSA.com.
Working with major operators of both arena and league sports over the past few months; Arena Racing USA is poised to support nationwide up to five new licenses starting in the next 12 months and ten to twelve licenses over 24 months adding to the existing three markets. "With the previously announced Master License Agreements in place and the TagBrand partnership announced here today, Arena Racing USA is poised for extraordinary growth and will fulfill the opportunity to connect national sponsors and advertisers with local communities in a meaningful way that has not been accomplished to date through national auto racing," stated Bob.
About TagBrand Management, LLC:
TagBrand develops and manages brand-driven media platforms around competition sports, music and lifestyle activities. TagBrand leadership combines years of hands-on experience in professional sports & music properties, venues, media production & packaging, event production, advertising & marketing and online media, which are channeled into first class entertainment products.
Corporate Website: http://www.tagbrand.net
About Arena Racing USA:
Arena Racing USA has just completed its sixth season in the market of Hampton Roads-Norfolk Virginia, its second season in Charlotte North Carolina and in 2008 will launch its inaugural season in Grand Rapids Michigan. Arena Racing USA was founded in 2002 by Ricky Dennis with strategic investors of Joe Gibbs, a NASCAR team owner, of Joe Gibbs Racing, Norm and Tom Miller of Interstate Batteries, a NASCAR team sponsor, and Gary Becker formerly of PACE Entertainment, an experienced indoor arena family entertainment and motorsports promoter, to develop a new competitive spectator sport providing a unique family entertainment product within a racing league structure, combining the enormous national and international interest in competitive stock car racing and the strong demand from arena operators, sponsors and fans for profitable and cost effective, exciting, family-oriented events.