Sail-World.com : Powerboat P1 new sponsorship agreement
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Powerboat P1 new sponsorship agreement |
Powerboat P1 Management Ltd has today announced that it has established a two-year sponsorship agreement with California-based, Hering Performance Propellers Inc.
The landmark deal is an incentivized, performance-related, contingency program and offers Powerboat P1 Evolution and SuperSport Class teams, the chance to be rewarded for using Hering Performance Propellers.
Aligned to Powerboat P1’s marketing strategy, which sets out to provide manufacturers with a direct platform upon which they can target customers, Powerboat P1 Chief Operating Officer, Robert Wicks, welcomed in the deal for the world’s fastest-growing marine motorsport. He said: 'Hering is a market leader with top quality products and I am certain that plenty of our race teams will make the most of this excellent opportunity.'
Delighted by the prospect of showcasing its products at Powerboat P1 Grand Prix of the Sea events, President of Hering Performance Propellers, Scot Conrad said: 'We are thrilled to be a part of the championship series and to be able to provide a return to the teams that use our products to win races.'
'When our customers win races, they validate our products and provide the best possible advertising we could ask for.'
As part of the exciting partnership, Hering Performance Propellers has set out its criteria for the incentivized deal whereby the manufacturer will reward each team based on its performance during the Powerboat P1 Grand Prix of the Sea weekend.
To comply with Hering Performance Propellers’ conditions, teams must use its propellers in competition, display the approved Hering decal on its powerboat, as well as finishing in first or second place overall in its class.
Powerboat P1 USA Director, Martin Sanborn, enthusiastically supports this unique partnership and believes its flexibility should provide a big attraction for manufacturers. 'The flexibility of the program is the key to making this an effective marketing and promotional platform. Allowing manufacturers to determine the criteria for using its products and the amount of prize-money each team receives, ensures clear rewards for the customer, purely based on its performance.'
Providing a direct measurable return for the sponsor whilst incentivizing teams to utilize the manufacturer’s products and services, Hering Performance Propellers has agreed that it will determine the reward based on the required product usage, the eligible classes, decal usage, and eligible finish positions.
The Hering program will be in effect for the entire 2010 Powerboat P1 World Championship series, beginning in Split, Croatia on April 16-18, and is available to all competitors in both of the Powerboat P1 World Championship classes, Evolution and SuperSport.
by Sam Feasey
8:22 PM Tue 26 Jan 2010 GMT
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