Sponsorship Agreement for Race Car Team
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FAQ
The date the parties enter into the agreement. The names and addresses of the sponsor and rights holder/property. The start and end date the agreement. Terms regarding the right of renewal/right of first refusal.
Although sponsorship package costs vary from organization to organization, they commonly range from $100 up to $5,000 or more.
The total paid for the 2 year Xfinity sponsorship was $5-5.25M per year. Additionally, DC Solar was the primary sponsor in the NASCAR Cup Series. 20 races cost $8.3M.
Know your subject. We're not suggesting you don't know your own business be that what you're racing, where you're racing or what championship. Do your homework. Research the the potential sponsor's business. Think about the sponsor. What do they want? Pick your time. Plan your sponsorship proposal and presentation.
At a bare minimum, the proposal should contain: Background information about the team, a driver profile, geographical information about the racetracks, levels of sponsorship with pricing and items/services included. Research the company. Know what they do. Have a good idea about their target market.
Know your subject. We're not suggesting you don't know your own business be that what you're racing, where you're racing or what championship. Do your homework. Research the the potential sponsor's business. Think about the sponsor. What do they want? Pick your time. Plan your sponsorship proposal and presentation.
Put the company's name on the player's jerseys. Promote them through social media. I think this is huge a benefit for the business you are promoting. Create a banner that your team puts up before every game with the businesses logo. Get creative! Ask them their needs.
Type an introductory letter, addressing it to the person in charge of the organization. Explain up front that you are seeking sponsorship for your racing team and that the organization will find the proposal attached. Thank the letter reader for his or her time and include all of your contact information.
What is a Sponsorship Agreement? A sponsorship agreement regulates the legal relationship between a sponsor and the individual such as an athlete or player, a sports team, an event organizer for an event that attracts sponsorship or the owner of a location that will be sponsored.