It was no secret that IndyCar wasn’t exactly the most profitable company in the years following its nasty split from fellow motorsport brand Championship Auto Racing Teams (CART), having reportedly lost 20 million fans.
However, Randy Bernard, IndyCar’s CEO, is no stranger to big turn-arounds. He arrived at IndyCar in 2010 (shortly after a reunification of the two circuits and then known as Indy Racing League or IRL) from Professional Bull Riders Inc. where, over 10 years, he turned the $200,000 business into an impressive $200 million enterprise.
Top of the list for IRL? A name change to something more familiar.
“The IRL… and CART had different objectives and goals. You had to pick one side or the other and there was a very big hatred amongst the side you took,” said Bernard of the splintered fanbase. “I felt that IndyCar had 100 years of brand, and changing the name from IRL to IndyCar was very important to us and our fans… and just a part of the process to heal and get our fan base back with IndyCar.”
Since Bernard’s arrival at IndyCar, its promotional income has gone from $34 million in 2009, to $104 million just a year later.
WIth IndyCar returning to Toronto on July 8, the organization made a presentation at the Real Sports Bar and Grill in Toronto last week to meet with local media. Marketing asked Bernard about his plans for revitalizing the IndyCar brand in Canada.
