New Zealand’s largest annual sporting event, the V8 Supercar street race in Hamilton, will be sponsored by ITM for the next three years.
The event, set for 16-18 April next year, will be known as the ITM 400.
The announcement is an exciting development for the New Zealand sole round of the V8 Supercar Championship that has attracted 300,000 fans in the first two years.
“To secure a naming sponsor of this significance provides increased commercial credibility, and to achieve this outcome in the current economic climate speaks volumes for the stature of our event and our belief that V8 Supercars can deliver a value-for-money, positive return on investment for sponsors,” according to event director Steve Vuleta.
“ITM has been a sponsor in the past two years. They are a strong New Zealand company with nationwide distribution, their customers are part of our key demographic mix and ITM has excellent brand and corporate values,” Mr Vuleta says.
ITM, with more than 90 branches nationwide, are delighted with the new sponsorship.
“The whole team at ITM is thrilled to be the naming sponsor for the ITM 400,” ITM chief executive Gordon Buswell says.
“We have built our brand to attract customers, build credibility with suppliers and excite our people. The ITM 400 undoubtedly achieves all three.
“This will be our third year of involvement in what has become New Zealand’s largest sporting event. The construction of the track, its removal, the precision of the racing teams and the responsiveness to the needs of the motor racing public are all measures of professionalism that we are thrilled to be part of.”
The announcement has met with a positive response from V8 Supercars.
“The ITM 400 in Hamilton is without doubt the best sporting event in New Zealand. It is also a vital part of our Championship and its long-term future,” executive chairman Tony Cochrane says.
“This is sensational news that ITM, a company that is enjoying such tremendous growth, has chosen to increase its sponsorship to naming rights level. It clearly shows that companies associated with our sport, the V8 Supercar brand and the great events we stage, bring with them significant rewards for our partners.”
The organisers, pleased with a favourable date in the last week of the school holidays, said they felt it important to recognise the current economic climate in ticket pricing.
“We have reduced our pricing for general admission and silver grandstands by approximately 30%,” Mr Vuleta says.
“Fans will be able to come to the event for as little as $19 for the day. We have converted four of our existing grandstands to the new flexi-ticket seating.
“And children under 15 are free for general admission. Overall we think this is excellent value-for-money entertainment.”