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Goodyear, All-American Soap Box Derby Agree on Sponsorship Extension

23 December 1999

Goodyear, All-American Soap Box Derby Agree on Sponsorship Extension

    AKRON, Ohio, Dec. 22 -- The All-American Soap Box Derby and
Goodyear's North American Tire business have reached agreement on an extension
of Goodyear's title sponsorship of the 62-year-old event that is guaranteed
for the next two years with an option that extends an additional three years.
    Terms of the agreement between the Derby and the North American division
of the world's largest tire company were not disclosed, but the extension was
an objective of both parties.
    "As someone who raced in the Soap Box Derby for five years as a youngster,
I certainly am very pleased that Goodyear continue working together with the
Derby to help recapture the enthusiasm and imagination of boys and girls
across the country," said Bill Sharp, president of the Goodyear's North
American Tire operations.
    Emotions aside, Sharp indicated the decision to renew was a business
decision and that meeting performance expectations would dictate decisions on
long-term involvement.
    "We recognize that both parties need a strategy of stability to help this
event flourish," Sharp said.  "We are committed to devoting the energy and
planning into improving on an American tradition.  We have some very exciting
ideas that we believe will be met with enthusiasm by the Derby and its
participants.
    "Based on the success in meeting shared performance objectives over the
next two years of working with the Derby, we will entertain the option on the
additional three years," Sharp said.
    "We are extremely excited about having Goodyear on-board for at least the
next two years to help establish sponsorship stability, and also because they
share our vision for a renewed emphasis on growth of the Derby," said Roy
Hartz, chairman of the All-American Soap Box Derby.  "This is a very exciting
Christmas present for both the All-American Soap Box Derby and the city of
Akron."
    The first race of the new millennium is scheduled for Derby Downs in Akron
on July 22.