Ignite Asset Management is one of the newest sponsors in MotoGP, providing backing to the Pramac Ducati effort.
MotoGP sponsors have the unique opportunity to reach millions of fans worldwide, either directly at any of the nearly 20 races making up a season or indirectly through various forms of media coverage surrounding the sport. Despite the vast audience, many teams struggle to find backing and many riders are forced to generate personal sponsors in order to get paid. Since the loss of major cigarette company support, there’s been a sponsorship void that has yet to be filled in professional motorcycle racing.
Though they can be large, the benefits of MotoGP sponsorship aren’t confined to having a 200 mph billboard or slick leathers with the brand name plastered everywhere. Since MotoGP is big business, sponsorship can also join companies with folks who have enough money to play. One of the newest sponsors on the grid, Ignite Asset Management, a “New York-based alternative asset management firm led by a group of hedge fund industry veterans and supported by private investors that are driven by the undiscovered alpha,” (quote taken from the Ignite homepage company description) serves as a prime example of this fact.
In a recent interview with Bloomberg Television’s Matt Miller, Ignite Asset Management’s Ryan Bonifacino illustrates some of the additional benefits of MotoGP sponsorship, and it’s clear that having access to the grid, to tickets, to VIP privileges and the like are major motivators. The idea is that the proverbial golf trip to seal the deal on a multi-million dollar hedge fund contract turns into a day at the track with a special, one-of-a-kind tour through the Ignite Pramac Ducati garage and a personal meet-and-greet with Ben Spies.
With big money in short supply, this new take on the benefits of sponsorship may be a welcome shot-in-the-arm for MotoGP teams, especially if the move proves beneficial for Ignite’s business.