What: Brokering deals
between race cars and sponsor companies
Who: Cragg Eubanks of RaceSport
Ltd.
Where: Wichita Falls,
Texas
When: Started in 2001
Cragg Eubanks, a 47-year-old amateur sports car aficionado, uses
his expertise to broker business deals and his contacts in the
professional racing industry to find corporate marketing partners
for race teams nationwide. "Everybody realizes that the whole
marketing venue in sports is changing and that we have to come up
with methods to better manage these programs," says Eubanks.
"We have to come up with business plans to show these
corporations what they're going to get out of it if they invest
these marketing dollars in professional motor sports
teams."
He first came up with the idea for his business after realizing
that the hundreds of millions of dollars spent every year on team
sponsorships yielded few quantifiable results for the companies
that choose to invest their marketing dollars. So he decided to
change the way sponsorships were approached.
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Today, his company brokers deals that generate revenues and
value for everyone involved. For example, RaceSport brokered a
licensing deal between Lampus Racing (a major race team) and
Mothers Against Drunk Driving (MADD), whose logos will be placed on
Lampus race cars. In exchange, RaceSport is seeking corporate
sponsors in the non-alcoholic beverage industry for MADD, which
plans to implement a multimedia-based youth education and awareness
program at the race track. Having closed one deal and with another
in the works, Eubanks is on his way to reaching sales projections
of $400,000 by the end of the year.
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