Company hopes sponsorship of Indy 500 winner will pay off

FORT WAYNE, Ind. (AP) - An Indiana lender hopes its sponsorship of this year's winner of the Indianapolis 500 will pay off.

The Journal Gazette (http://bit.ly/2qFFndW ) reported Fort Wayne-based Ruoff Home Mortgage's logo was on Takuma Sato's car during the three-hour race Sunday. The logo was also visible on his fire suit.

Company founder and CEO Mark Music said he hopes the sponsorship will generate exposure for the company as it plans to expand its operations in Fort Wayne.

"We were hoping he'd be relevant and be on television a few times," he said of Sato.

Music said adding to the mortgage company's visibility will make hiring the best, most aggressive sales force possible.

"It makes our recruiting much easier," he said.

Music declined to comment on the sponsorship's price, but he said it's the most expensive sports sponsorship he's made.

The company spends more than $2 million annually on sports-related marketing and another $1.2 million on other advertising campaigns, he said. Other sports sponsorships have included the Indiana Colts, the Indiana Pacers, Notre Dame University, Indiana University, Ball State University and Butler University.

Floyd & Partners President Bob Floyd said sponsoring an Indy car is "a very expensive long shot."

"As an advertising investment, I would term it highly speculative," he said.

The most reliable outcome is the opportunity to attend the race and get access to behind-the-scenes areas such as sponsor suites, Floyd said.

President and founder of LaBox and Beyond Barry LaBov, said sponsors should try to be savvy when making deals.

"When you're looking at a sponsorship, it needs to have legs," he said. "It can't have a one-time benefit."

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Information from: The Journal Gazette, http://www.journalgazette.net