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- Written by Mike Admin
- Category: The Business Of Racing
By: Indianapolis Motorspeedway
July 21, 2024
July 21, 2024
Indianapolis, Indiana – PPG, a global leader in paints, coatings and specialty materials, announced a multiyear agreement to extend its presenting sponsorship of the Brickyard 400, a crown jewel of the NASCAR Cup Series schedule held annually at the Indianapolis Motor Speedway.
PPG also will continue as the Official Paint and Finishing Supplier of IMS as part of the long-term agreement.
The presenting sponsorship, which began in 2024 with the Brickyard’s 30th anniversary and return to the oval, adds to PPG’s historic legacy with the Brickyard 400. The first seven winners of the Brickyard 400 had their names inscribed on the coveted PPG Trophy.
As part of the extended sponsorship announcement, the logo for the 2025 Brickyard 400 presented by PPG also was unveiled. The logo incorporates the colors synonymous with PPG and its motorsports involvement, which signify the company’s focus to protect and beautify the world.
“For more than four decades, PPG has been one of the most trusted, innovative and dedicated partners in motorsports,” said Roger Penske. “We look forward to building on our long-term relationship with PPG and the opportunities that lie ahead as we continue to feature PPG and their commitment to enhancing our communities across INDYCAR and NASCAR and at the Indianapolis Motor Speedway.”
For more than 40 years, PPG also has maintained a partnership across Team Penske’s NASCAR and INDYCAR programs. As part of today’s exciting news, it was announced PPG also returns as a Team Penske partner in the NASCAR Cup Series, serving as an associate sponsor of the No. 2 Ford Mustang driven by 2022 DAYTONA 500 champion Austin Cindric, the No. 12 Ford Mustang driven by reigning Cup Series champion Ryan Blaney and the No. 22 Ford Mustang driven by two-time Cup Series champion Joey Logano.
“We are excited to build upon our extensive history with Team Penske, INDYCAR and IMS,” said PPG Chairman and Chief Executive Officer Tim Knavish. “To be able to expand and strengthen these relationships speaks to the commitment and success we’ve had together. I look forward to seeing the PPG name on Team Penske cars and at the Brickyard 400 for years to come.”
Team Penske’s most recent NASCAR victory at Indianapolis Motor Speedway came with Cindric at the inaugural race on the road course during Brickyard Weekend 2021 in the No. 22 PPG Ford Mustang.
PPG works to develop and deliver the paints, coatings and specialty materials that our customers have trusted for more than 140 years. Through dedication and creativity, PPG solves customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, PPG operates and innovates in more than 70 countries and reported net sales of $18.2 billion in 2023. PPG serves customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.
- Details
- Written by Mike Admin
- Category: The Business Of Racing
By: FIA Formula E
June 13, 2024
June 13, 2024
London, UK – Formula E has today announced that Liberty Global Ltd. (“Liberty Global”) (NASDAQ: LBTYA, LBTYB and LBTYK) is to acquire shares held by Warner Bros. Discovery in the all-electric racing series.
The acquisition of shares held by Warner Bros. Discovery will, on completion, bring Liberty Global’s total share of ownership in Formula E to 65% and mean that Liberty Global will take a controlling interest in the world’s fastest-growing motorsport.
Formula E is the only FIA sanctioned all-electric world motor racing championship, the world’s No.1 rated ESG sport and the first net zero carbon sport from inception.
In its 10th season of all-electric city racing, Formula E boasts one of the best and most diverse sporting calendars in the world, with 16 races in some of the world’s most iconic city locations, covering four continents.
Now, with almost 400m fans around the world, 11 teams and 22 world-class drivers on the grid, Formula E has become a destination for the best motorsport talent on the planet, including racing teams Jaguar TCS Racing, TAG Heuer Porsche Formula E Team and NEOM McLaren Formula E Team.
At the recent Monaco E-Prix, Formula E revealed its new car for Season 11, the GEN3 EVO, capable of accelerating to 60mph in an incredible 1.82 seconds, around 30% faster than a current Formula 1 car.
Jeff Dodds, CEO, Formula E, said
“First of all I’d like to offer my thanks to Warner Bros. Discovery for the support and guidance they’ve provided Formula E over the past nine years. Liberty Global have a proven track record of building and growing businesses and their investment in us comes at the perfect time as we plan for a period of exponential growth. Having personally known and worked alongside the Liberty leadership team for over a decade, I’m thrilled to be able to further benefit from their expertise and their resources. This is a powerful vindication of the huge potential of our sport.”
Mike Fries, CEO, Liberty Global, said
“We’re excited to take a controlling interest in Formula E, a business we first invested in nearly ten years ago. Formula E has a massive potential for further growth while integrating the most advanced sustainability standards in sports. The investment continues our approach of disciplined capital rotation across our Ventures portfolio and our strategy of making long-term investments in highly attractive businesses.”
The transaction is subject to regulatory approval, with closing expected before year end.
About Formula E and the ABB FIA Formula E World Championship
As the world’s first all-electric FIA World Championship and the only sport certified net zero carbon since inception, the ABB FIA Formula E World Championship brings dramatic racing to the heart of some of the world’s most iconic cities providing an elite motorsport platform for the world’s leading automotive manufacturers to accelerate electric vehicle innovation.
The Formula E network of teams, manufacturers, partners, broadcasters, and host cities are united by a passion for the sport and belief in its potential to accelerate sustainable human progress and create a better future for people and planet. www.FIAFormulaE.com
About ABB
ABB is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The company’s solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered and operated. Building on over 140 years of excellence, ABB’s more than 105,000 employees are committed to driving innovations that accelerate industrial transformation. www.abb.com
ABOUT LIBERTY GLOBAL
Liberty Global (NASDAQ: LBTYA, LBTYB and LBTYK) is a world leader in converged broadband, video and mobile communications services. We deliver next-generation products through advanced fiber and 5G networks, and currently provide over 85 million* connections across Europe. Our businesses operate under some of the best-known consumer brands, including Sunrise in Switzerland, Telenet in Belgium, Virgin Media in Ireland, UPC in Slovakia, Virgin Media-O2 in the U.K. and VodafoneZiggo in The Netherlands. Through our substantial scale and commitment to innovation, we are building Tomorrow’s Connections Today, investing in the infrastructure and platforms that empower our customers to make the most of the digital revolution, while deploying the advanced technologies that nations and economies need to thrive.
Liberty Global's consolidated businesses generate annual revenue of more than $7 billion, while the VMO2 JV and the VodafoneZiggo JV generate combined annual revenue of more than $18 billion.**
Liberty Global Ventures, our global investment arm, has a portfolio of more than 75 companies and funds across the content, technology and infrastructure industries, including stakes in companies like ITV, Televisa Univision, Plume, AtlasEdge and the Formula E racing series.
* Represents aggregate consolidated and 50% owned non-consolidated fixed and mobile subscribers. Includes wholesale mobile connections of the VMO2 JV and B2B fixed subscribers of the VodafoneZiggo JV.
** Revenue figures above are provided based on full year 2023 Liberty Global consolidated results and the combined as reported full year 2023 results for the VodafoneZiggo JV and full year 2023 U.S. GAAP results for the VMO2 JV.
Sunrise, Telenet, the VMO2 JV and the VodafoneZiggo JV deliver mobile services as mobile network operators. Virgin Media Ireland delivers mobile services as a mobile virtual network operator through third-party networks. UPC Slovakia delivers mobile services as a reseller of SIM cards.
Liberty Global Ltd. is listed on the Nasdaq Global Select Market under the symbols "LBTYA", "LBTYB" and "LBTYK".