Results 1 to 2 of 2
  1. Collapse Details
    HydroFest goes with Metro Detroit Chevy Dealers as single title sponsor
    #1
    What's Happening Serious News's Avatar
    Join Date
    Nov 2008
    Posts
    7,226
    Blog Entries
    1
    Metro Detroit Chevy Dealers is the new title sponsor for the Spirit of Detroit HydroFest, as the 101-year-old boat race takes on a new, "more balanced" structure, the race organizer said Friday.

    Despite some financial worries after Detroit-based UAW-GM Center for Human resources dropped sponsorship of the race after two years, there was little doubt HydroFest would continue, said Mark Weber, president of the race organizer Detroit Riverfront Events Inc.

    Photo by Courtesy of Detroit Riverfront Events Inc.

    HydroFest, which takes place Aug. 25-27, will be split into two different races.

    "The event was always going to take place," Weber said. "The question was at what level it was going to take place. We always have a plan A and plan B."

    Metro Detroit Chevy Dealers, which has been a sponsor of the event at a smaller scale, will be the one main sponsor of HydroFest, Weber said. The car dealership group will have control of everything that's branded for the three-day event, including banners, billboards, social media, print advertising, display boats and other promotions.

    Financial terms of the deal were not disclosed.

    The race, which dates to 1916, is a 2.5-mile river course for boats that reach 200 mph. It has cycled through lead sponsors and organizers over the years while struggling with financing. Past sponsors included Chrysler Jeep Superstores, which ended its run in 2010. The race was without a main corporate sponsor until UAW-GM, which ended its sponsorship last year.

    New race structure

    The new branding structure comes with a restructuring of the race, which Crain's first reported in January, but only by coincidence, Weber said.

    The weekend event, scheduled for Aug. 25-27, will be split into two different races. Qualifiers will take place Friday, Saturday will be the President's Cup championship and Sunday will be the Gold Cup championship.

    "You can show up on Saturday or Sunday and watch a complete race and see a winner," Weber said. "It's more promotional advertising. Each year we look at ways we are going to up the ante, make it more exciting. It's no secret water sports and motor sports in general are in challenging times."

    The event costs about $550,000-$600,000 to put on each year, Weber said. Last year, it made a profit of $30,000-$35,000, down from $50,000-$55,000 in 2015. Organizers spending more money on advertising in 2016 to build branding and increase exposure for the event, Weber said.

    The weekend event is funded through sponsorships, advertising and donations. In the "leaner years" of the recession, the event relied on donations, Weber said, including a $100,000 fundraiser hosted by the Detroit Yacht Club a few years ago. That was not a sustainable model, Weber said, and now the event typically sees donations totaling $20,000.

    Weber said he likes the balance of this year's single-sponsor model.

    "It got us to the finish line much quicker," he said.

    Tickets

    Ticket and parking prices will remain much the same as last year, with general seating at $50 for the presale, or $25 on Saturday and $35 on Sunday, according to Detroit Riverfront Events Inc.
    Grandstands for rows 1-20 are $65, and rows 21-25 are $85. Seating for the Pit Tower is $130 and comes with a free weekend parking pass with the purchase of four tickets.

    Judges Stand seating is $90 and also comes with a free weekend parking pass with the purchase of four tickets.

    Club Gold Cup tickets are $200 and come with a free weekend parking pass with the purchase of four tickets.


    http://www.crainsdetroit.com/article...s-single-title
    Reply With Quote
     

  2. Collapse Details
     
    #2
    Founding Member / Super Moderator Ratickle's Avatar
    Join Date
    Oct 2008
    Location
    West Michigan
    Posts
    37,266
    Blog Entries
    44
    I am sure glad to see they found a good sponsor!!
    Getting bad advice is unfortunate, taking bad advice is a Serious matter!!
    Reply With Quote
     

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •