St. Pete Grand Prix looks for new sponsor - WFLA News Channel 8

St. Pete Grand Prix looks for new sponsor

Posted: Updated:
Getting ready for the race. File photo. Getting ready for the race. File photo.
ST PETERSBURG, FL (WFLA) -

The St. Petersburg Grand Prix is looking for a new sponsor.  Event planners confirmed that Honda, has pulled out as the main sponsor and namesake.

"We just found out a week and a half ago and were pretty shocked, pretty stunned. We didn't have any warning. We've had 9 great years with Honda been a great partnership, great relationship we're sad that it's ended but we look forward to bringing somebody new on," said Tim Ramsberger, President of Grand Prix of St. Petersburg.

The total sponsorship exposure has been valued at up to $10 million for the network broadcast of the race.

The race draws fans from all over the country.  Event workers use concrete barricades to turn the St. Petersburg downtown waterfront into a temporary 1.8 mile racetrack.

The event also brings in an economic benefit to the city.  The Grand Prix commissioned an independent study on the impact.  It showed that 27,000 hotel room nights were booked as a result of visitors to the three day event.

Ramsberger said even if he can't secure another big sponsor, the race will go on as planned, "We expect the 10th anniversary of this event to be as big as ever. We've got the financial viability to continue on it's obviously a setback, no question, can't deny that , but we're a strong organization and this event is strong."

Related: more about St. Petersburg Honda Grand Prix

This year's race is planned for late March.



 

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