Bank of America and International Speedway Corporation Announce Multi-Track Sponsorship Agreement
Five-Year Agreement Deepens Bank of America's Relationship with NASCAR Racing
CHARLOTTE, N.C. and DAYTONA BEACH, Fla., Feb 21, 2006 /PRNewswire via COMTEX News Network/ -- Bank of America, and International Speedway Corporation (Nasdaq: ISCA; OTC Bulletin Board: ISCB) (ISC), today announced they have entered into a five-year, multi-track sponsorship agreement. Beginning in 2006, Bank of America will serve as the "Official Bank Sponsor" of four ISC facilities: California Speedway near Los Angeles; Kansas Speedway in Kansas City, KS; Phoenix International Raceway in Arizona; and Watkins Glen International in New York. Financial terms of the agreement were not disclosed.
"Bank of America is very excited about taking its relationship with motorsports to the next level through our partnership with ISC," said Rick Parsons, executive vice president, Brand Marketing, Bank of America. "Joining the ISC family enables us to expand the ways in which we can reach a significant base of racing fans among our customers, and is further proof of our commitment to the sport as a central part of our marketing strategy.""We're thrilled that Bank of America has partnered with us to expand its presence in NASCAR racing," said ISC President Lesa France Kennedy. "Our premier facilities in key markets continue to attract major corporations looking to reach consumers nationwide. We look forward to working with Bank of America to develop at-track marketing programs to effectively complement their overall motorsports platform."
Bank of America will support its agreement with ISC through racing-themed mass-market promotions, significant signage and display throughout the four ISC raceways, and at-track client hospitality. In addition, the agreement also entitles Bank of America to place ATMs on-site at the four facilities.
Bank of America's agreement with ISC is the latest in the company's recent entry into the sport of NASCAR. Including its significant at-track presence and related promotional commitments, Bank of America has partnered with Turner Sports to be the presenting sponsor of the "Countdown to Green" pre-race program which airs on NBC's and TNT's national broadcasts.
Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 38 million consumer and small business relationships with more than 5,800 retail banking offices, more than 16,700 ATMs and award-winning online banking with more than 14 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 150 countries and has relationships with 97 percent of the U.S. Fortune 500 companies and 79 percent of the Global Fortune 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange. http://www.bankofamerica.com.
International Speedway Corporation
International Speedway Corporation is a leading promoter of motorsports activities in the United States, currently promoting more than 100 racing events annually as well as numerous other motorsports-related activities. The Company owns and/or operates 11 of the nation's major motorsports entertainment facilities, including Daytona International Speedway in Florida (home of the Daytona 500); Talladega Superspeedway in Alabama; Michigan International Speedway located outside Detroit; Richmond International Raceway in Virginia; California Speedway near Los Angeles; Kansas Speedway in Kansas City, Kansas; Phoenix International Raceway in Arizona; Homestead-Miami Speedway in Florida; Martinsville Speedway in Virginia; Darlington Raceway in South Carolina; and Watkins Glen International in New York. Other motorsports entertainment facility ownership includes an indirect 37.5 percent interest in Raceway Associates, LLC, which owns and operates Chicagoland Speedway and Route 66 Raceway near Chicago, Illinois.
The Company also owns and operates MRN Radio, the nation's largest independent sports radio network; DAYTONA USA, the "Ultimate Motorsports Attraction" in Daytona Beach, Florida, the official attraction of NASCAR; and subsidiaries which provide catering services, food and beverage concessions, and produce and market motorsports-related merchandise under the trade name "Americrown." In addition, the Company has an indirect 50 percent interest in a business called Motorsports Authentics, which markets and distributes motorsports-related merchandise licensed by certain competitors in NASCAR racing. For more information, visit the Company's Web site at http://www.iscmotorsports.com.
Statements made in this release that express the Company's or management's beliefs or expectations and which are not historical facts or which are applied prospectively are forward-looking statements. It is important to note that the Company's actual results could differ materially from those contained in or implied by such forward-looking statements. The Company's results could be impacted by risk factors, including, but not limited to, weather surrounding racing events, government regulations, economic conditions, consumer and corporate spending, military actions, air travel and national or local catastrophic events. Additional information concerning factors that could cause actual results to differ materially from those in the forward- looking statements is contained from time to time in the Company's SEC filings including, but not limited to, the 10-K and subsequent 10-Qs. Copies of those filings are available from the Company and the SEC. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be needed to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by International Speedway or any other person that the events or circumstances described in such statement are material.
SOURCE Bank of America
Tara Burke National Media Relations of Bank of America, +1-203-758-1270, or cell,
1-646-765-4971, or Tara.A.Burke@bankofamerica.com ; or Wes Harris, Senior Director,
Investor Relations of International Speedway Corporation, +1-386-947-6465