| | Associated Press
BROOKYN, Mich. -- In what could be a trendsetting move, The
Valvoline Co. announced Saturday it will become the first major consumer
products company to own a NASCAR Winston Cup team.
As of next year, Valvoline will be a co-owner, with MB2 Motorsports, of the Pontiac Grand Prix to be driven by Michigan native Johnny Benson. Valvoline also signed a three-year agreement to be the primary sponsor of the car.
"We looked at other team ownerships in baseball, football and Formula One," Valvoline president Jim O'Brien said. "Over time, economics of the sport drive you to the point of getting more of an equity stake than what it is you're trying to do. You build so much presence and so much equity in the team and the drivers. And you have to be in position to benefit from all that.
"Beginning next year, network TV deals will take effect which will result in a new growth spurt in this sport. New modern race tracks have been added around the country which will increase attendance. We've watched this influx very carefully and we want to be a bigger part of it through ownership."
The team, to be called MBV Motorsports, will have Benson and Ken Schrader, who currently drives for MB2 Motorsports.
"I think it's great," said Benson, who will start from the 12th row in Sunday's Pepsi 400. "We obviously needed sponsorship for the 2001 season, and Valvoline was looking to go on a car. So this is a great situation. For us and them to join together in a Winston Cup team is going to be a really cool thing."
Barry Bronson, Valvoline's sports marketing director, said Valvoline remains fully committed to Mark Martin and Roush Racing for the rest of this Winston Cup season. | |
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