When the financial woes of Steelback Brewery and the D’Angelo brands hit the news last month, we felt certain that it would affect the Toronto Grand Prix for Champ Car. Officials from Wasanda Enterprises, who have been funding Steelback, said at the time that the event sponsorship would not likely be affected.
Today’s news shows that the debt load was apparently much higher than was expected and the annual event that helps define Toronto’s waterfront is once again without a title sponsor. Not to worry though as Toronto Grand Prix president Charlie Johnstone says the show will go on. Six companies are said to be interested in taking over the prolific event.
Long time Champ Car fans will remember that the Toronto race was known as the Molson Indy for 21 years. Certainly that is one of the longest sponsorship relationships in North American open wheel racing and was one of the strongest brand affiliations in the sport. It would seem like a perfect fit for some big corporate brand that is looking for some high level exposure.
The Toronto Grand Prix isn’t just about Champ Car and never has been. The whole city gets involved and that is the reason that it is the favorite stop on the tour for teams, drivers and fans alike. It’s a golden opportunity for a major brand to become part of the culture of one of North America’s brightest cities.
Source: Toronto Star