Officials from Championship Auto Racing Teams, Inc. (NYSE:MPH) and Octagon confirmed today that they have established a worldwide strategic partnership to service CART’s growing international needs.
The appointment will see Octagon provide a wide range of services from television distribution and production, sponsorship and media sales, marketing and public relations, event staging and promotion, gaming and the creation of new events. In addition, Octagon will be utilizing its sister agencies within the Interpublic Group (NYSE:IPG) to assist in the delivery of other specialist services.
Octagon has started work with CART’s management team in suburban Detroit to develop a unified approach across all the services to ensure they can be effectively delivered in the international markets. Some work will also be undertaken by Octagon and its sister Interpublic companies within North America. Octagon Television has already secured several television rights and distribution contracts to support the CART FedEx Championship Series for the 2002 season which started on March 10 with the Tecate Telmex Monterrey Grand Prix.
Newly appointed CART President and CEO Christopher R. Pook and his management board, made the appointment following a review of the series’ progress since its inception in 1979.
‘Since taking on this new role, I, and the board, recognized the need to build the strength of CART internationally,’ said Pook. ‘Together with Octagon’s global network and the expertise of its sister companies within Interpublic we are well-placed to develop CART as the premier racing series.’
‘Octagon has already established a diverse portfolio of motorsports through its marketing-led approach which delivers a successful product for all those watching and participating,’ added Les Delano, group chief executive of Octagon. ‘CART is clearly a unique product with huge potential and one that we know we can develop for the benefit of the fans, TV audiences, teams and sponsors.’
Tim Moufarrige, President of Property Representation and Sales at Octagon, will be leading the team at Octagon who will be responsible for the overall delivery of the services.
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