SEPTEMBER 1, 1997
FedEx aiming for CART?
WE hear stories from the United States that Benetton's big new backer Federal Express is about to be named as the title sponsor for the CART World Series and may not continue its involvement in Grand Prix racing beyond the end of this season. These may be rumors designed to destabilize the situation at Benetton - the deal for this year is believed to be worth $6m and a 1997 package would be twice that - and it makes little sense from a marketing point of view as FedEx is aiming to make big progress in Asia and Europe. The recent strike at rival UPS, however, has given FedEx a major boost in the American market and the company may try to hold on to its new customers and increase its sales there. It may also be considering an involvement in both CART and in F1.
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