NASCAR WCUP: Valvoline to Become Team Owner in 2001
19 August 2000
Valvoline to Become Nascar Team Owner in 2001
BROOKLYN, Mich.--Aug. 19, 2000--The Valvoline Co. today announced a landmark agreement to become the first major consumer products company in history to own a NASCAR Winston Cup team, with veteran driver and Michigan native Johnny Benson behind the wheel of the Valvoline Pontiac Grand Prix.
Valvoline will be an owner with MB2 Motorsports of the No. 10 team, starting in 2001. The new team is named MBV Motorsports.
Valvoline also signed a three-year agreement to be the primary sponsor of the No. 10 Pontiac beginning in 2001, continuing Valvoline's long and successful sponsorship role in Winston Cup racing. Benson will continue to be a teammate with Ken Schrader, who drives the No. 36 M&M's Pontiac for MB2.
Valvoline President Jim O'Brien, speaking at a news conference today at Michigan Speedway, said, "This is an exciting and important day in the 134-year history of our company. For many years, Valvoline has enjoyed a reputation as an innovative and successful sponsor. Today, we raise Valvoline's commitment to NASCAR Winston Cup racing and its fans by becoming a team owner.
"Valvoline's move into team ownership mirrors the technological advancements found in our products used by millions of racing fans," he continued. "We now step into a larger world, one full of new challenges and opportunities as a team owner.
"In MB2, we have found a partner which not only shares our passion for NASCAR racing, but also our commitment to attain goals and produce results. In Johnny Benson, we have not only a talented driver, but also a quality person who will continue to attract new fans and be an excellent representative for our Valvoline, Eagle One and Zerex brands."
Nelson Bowers, an owner of MB2, said he looks forward to working with Valvoline. "They bring a lot of marketing expertise to the table," he said. "And we are really excited about fielding a two-car team for the full season next year."
The team plans to relocate, prior to next February's Daytona 500, to a new facility under construction in Concord, N.C. James Ince has agreed to continue as Benson's crew chief.
Steven A. Kirchner, senior vice president of worldwide marketing for Valvoline, said becoming a Winston Cup team owner, in addition to sponsor, was a marketing-driven decision. "In recent years, we have witnessed many changes in NASCAR ownership and sponsorships," Kirchner said.
"We're doing something different here. But the marketing philosophy mirrors what we've been doing for years with our brands. We must continue to be innovative, creative, challenging and aggressive in our marketing strategies to maximize the return on our marketing investments.
"Winston Cup racing has experienced tremendous growth in TV ratings and attendance. Newly formed network broadcast alliances, new race tracks in major markets and expanded marketing opportunities all but guarantee a new growth curve for the sport. That's why Valvoline wanted a bigger stake in Winston Cup racing. What better way to be more involved than by becoming an owner?
"This partnership with MB2 fits our marketing objectives, and well-positions Valvoline in the business of NASCAR Winston Cup racing moving into the new 21st century."
Valvoline also introduced a new Valvoline Racing brand, which symbolizes the company's numerous racing accomplishments and future innovations. Valvoline's racing victories and achievements include Indy and Daytona 500 wins, the Formula One World Championship, Winston Cup Championships and NHRA Drag Racing Championships. The logo will be introduced to the public through a comprehensive advertising, marketing and licensing initiative.
Benson, 37, is a native of Grand Rapids, Mich., who now resides in Cornelius, N.C. His accomplishments include: 1990 American Speed Association (ASA) Rookie of the Year; 1993 ASA champion; 1994 NASCAR Busch Grand National Series Rookie of the Year; 1995 Busch Series champion; and 1996 Winston Cup Rookie of the Year. He currently is 15th in the Winston Cup point standings. Benson led both the Daytona 500 and Pepsi 400 and has a best finish of second at Bristol.
"Wearing the Valvoline driving suit is such a great honor for me," Benson said. "No other sponsor or brand stands for winning or racing as much as Valvoline. I worked with Valvoline earlier in my career and know their tradition and the quality of the company's products and people.
"I wanted to keep working with James Ince and I wanted to keep driving Pontiacs. Kenny Schrader and I are good friends and I'm looking forward to running the full season next year with him. Our goal will be to run up front as much as we can."
Jay Frye, general manager of MB2, said: "Can you believe this? A few weeks ago we were running a white car. Next year, we'll have the No. 1 brand and sponsor in the history of racing on our car. I can speak for Tom Beard, Nelson Bowers and Read Morton (MB2 owners) in saying that we are absolutely thrilled to welcome Valvoline as an owner-sponsor.
"Valvoline's presence will also help us attract associate sponsors," he said. "We now have a great outlook for next year."
Barry Bronson, Valvoline's sports marketing director, said Valvoline remains fully committed to Mark Martin and Roush Racing for the rest of this, the 2000 Winston Cup season. "We hope Mark and the No. 6 Valvoline car runs well in every race and can climb in the Winston Cup standings," said Bronson. "We will do everything we can to help contribute to Mark's success in the remaining races."
Bronson also expressed appreciation to Aaron's Rent, an Atlanta-based company, that is sponsoring the No.10 car throughout the remainder of the 2000 season.