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Elevation Group Buys Into Formula Off-Road
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The Elevation Group, a Cleveland-based sponsorship marketing, event production and communications company, has come to an agreement to jointly own veteran race car driver Robby Gordon’s SPEED Energy Formula Off-Road series.
The Elevation Group has purchased 40 percent of the series, with Gordon retaining 60 percent of the business.
Although an off-road racing series, the series is unique in that it stages races on downtown city streets and inside sporting stadiums. The track configuration is scalable, transportable and quick to set up and dismantle. Formula Off-Road, previously known as Stadium Super Trucks, has visited markets including Los Angeles, Detroit, Las Vegas, Tampa/St. Petersburg, Toronto, San Diego, St. Louis and Indianapolis. In early 2015 the series will make its overseas debut. An announcement with specific details regarding that is expected next month.
“I have been intrigued with Stadium Super Trucks since my son flipped out over them at a race earlier this year,” said Elevation President Denny Young. “When my business partner and I saw an ESPN poll in July that showed 78 percent of X Games viewers rated Stadium Super Trucks their favorite moment, we knew this was a business we wanted to be in.”
“Denny (Young) and I have known each other for more than 20 years. I raced at several IndyCar events that he promoted while running IMG’s motorsports business,” said Robby Gordon. “I know first-hand that Denny, Steve Lindecke and their team at Elevation understand how to stage and promote major market, nationally-televised sports events. Additionally, they are experts in sponsorship marketing – both in terms of selling and delivering exceptional value to sponsors. That’s exactly what my series needs at this stage and that’s why I have taken them on as my partners.”
“Robby’s a dynamic thinker, a driven entrepreneur and somebody that completely understands what’s cool and what works for the millennial generation,” commented Elevation’s Managing Partner Steve Lindecke. “I visited two sold-out events this past weekend in Southern California (San Diego and Costa Mesa) and I know the sky is the limit with Stadium Super Trucks. This series is the real deal and we could not be more excited.”
The Elevation Group has purchased 40 percent of the series, with Gordon retaining 60 percent of the business.
Although an off-road racing series, the series is unique in that it stages races on downtown city streets and inside sporting stadiums. The track configuration is scalable, transportable and quick to set up and dismantle. Formula Off-Road, previously known as Stadium Super Trucks, has visited markets including Los Angeles, Detroit, Las Vegas, Tampa/St. Petersburg, Toronto, San Diego, St. Louis and Indianapolis. In early 2015 the series will make its overseas debut. An announcement with specific details regarding that is expected next month.
“I have been intrigued with Stadium Super Trucks since my son flipped out over them at a race earlier this year,” said Elevation President Denny Young. “When my business partner and I saw an ESPN poll in July that showed 78 percent of X Games viewers rated Stadium Super Trucks their favorite moment, we knew this was a business we wanted to be in.”
“Denny (Young) and I have known each other for more than 20 years. I raced at several IndyCar events that he promoted while running IMG’s motorsports business,” said Robby Gordon. “I know first-hand that Denny, Steve Lindecke and their team at Elevation understand how to stage and promote major market, nationally-televised sports events. Additionally, they are experts in sponsorship marketing – both in terms of selling and delivering exceptional value to sponsors. That’s exactly what my series needs at this stage and that’s why I have taken them on as my partners.”
“Robby’s a dynamic thinker, a driven entrepreneur and somebody that completely understands what’s cool and what works for the millennial generation,” commented Elevation’s Managing Partner Steve Lindecke. “I visited two sold-out events this past weekend in Southern California (San Diego and Costa Mesa) and I know the sky is the limit with Stadium Super Trucks. This series is the real deal and we could not be more excited.”
