CORNELIUS, N.C. – Michael Waltrip Racing and Insurance Office of America (IOA) today announced a corporate partnership agreement in which IOA becomes a partner of Michael Waltrip Racing. The agreement marks IOA’s debut in NASCAR.
The partnership between MWR and IOA is for an initial five-year term with a five-year option. In addition to the insurance brokerage services, the IOA program includes hospitality and intellectual property usage that IOA will add to its national branding campaign.
IOA’s program uses sports and entertainment as its lead platform for strategic growth. MWR joins a growing number of professional sports teams as IOA’s client, including partnerships with teams in the National Football League (Jaguars), National Basketball Association (Magic) National Hockey League (Devils) and the NCAA (University of Central Florida).
“This is an exciting time for IOA to enter into NASCAR. We look forward to working with Michael, (MWR Co-owner) Rob Kauffman and the entire team at MWR,” said IOA founder John Ritenour.
Chris Marciani, vice president of sales and service at Michael Waltrip Racing, said the team is honored IOA chose MWR as its first NASCAR team.
"We're glad IOA saw the value in MWR," said Marciani. "We're building a ton of momentum here and feel like IOA will serve as a valued partner in the coming years as we continue our growth."
Paul Garofolo of Premier Partnerships in Cleveland brokered the agreement. Premier Partnerships is an industry leading sports sales and consulting firm focused on revenue generation for facilities, events and properties. Premier Partnerships is based in Los Angeles with offices in New York, Dallas and Cleveland.
Insurance Office of America is one of the largest full service insurance agencies in the United States and is based in Longwood, Fla. a suburb of Orlando. Founded over 20 years ago by Chairman John Ritenour, IOA is among the fastest growing independent insurance agencies and is one of the largest, privately-held insurance agencies in the United States. IOA partners with many insurance companies which offer clients a wide choice of commercial insurance policies custom-tailored to the unique requirements of professional sports & entertainment properties.
MWR fields fulltime NASCAR Sprint Cup teams for Martin Truex Jr. and David Reutimann as well as a K&N Pro Series entry for Ryan Truex. MWR along with Gary and Blake Bechtel co-own Diamond-Waltrip Racing that fields a Nationwide entry for Trevor Bayne.