In short contingency means an eventuality.. a possibility. In a contingency Program, suppliers reward teams that use their products.
The idea is simple and brilliant. After all, what company would not want to
- reward existing customers
- expose their brand names
- encourage potential customers to start using their products?
Speedgroup started developing the contingency program in december 2009 at the PRI show (Performance Racing Industry) in Orlando, Florida. We started at zero then.. and since then the Speedgroup contingency program have grown to have a current value of $159.000!
For 2011 the further development continues, more services are built into the program making it even more attractive, also for companies that don´t yet have that many users among the teams.
We hope to be able to renew contracts with the existing suppliers and sponsors to support the program and in addition add companies and suppliers that are on the teams wish list to work with
DETAILS ABOUT THE PROGRAM IN SHORT:
- Contingency Sponsors -
Some companies have chosen (and have products suitable) to support all FIA/UEM classes, while others focus on a few classes. The general conditions are that each company choose to sign up for a minimum of 2 classes. See the table below what applies to a specific company or class.
- Contingency Rewards -
The winners and runners-up at each event are rewarded by the ontingency companies they have signed up for. In general that means $300 to the winner and $100 to the runner-up.
- What must teams comply with? -
Teams can sign up for contingency with a class contingency sponsor if using their products and can provide proof of it.
- Teams expose stickers provided by the supplier for this purpose on the car/bike according to specific instructions.
- Administration -
Administration of the contingency program is handled by Speedgroup and includes;
- providing necessary information and stickers to the teams on request
- report back continuously to the contingency sponsor companies with results and photos from the races
- check on site that the contingency conditions are met for payout to be applicable
- handle payouts
- actively promote the program to include companies that are of value to the teams
- encourage teams to support the suppliers involved in the program.
Classes on offer in the contingency program: FIA Cars
TF- Top Fuel Dragster
TMD- Top Methanol Dragster
TMFC- Top Methanol Funny Car
PM- Pro Modified
PS- Pro Stock Car
UEM Bikes
TFB- Top Fuel Bike
STTF- Super Twin Top Fuel Bike
PSB- Pro Stock Bike
See the table at the bottom for details on which company sponsor which class. Follow the links to read the articles from previous newsletters about some of the fine companies included in the contingency sponsor program:
Exhaust Coating
MPM Oil
NRE - Noonan Race Engineering
Leanders Clutch
Racepak
Simpson Race Products
