There are several different reasons why a company would want to sponsor or endorse a team or rider in MotoGP, that includes more brand recognition, enhancing their image, shape consumer attitudes and loyalty, heighten visibility and target specific markets.
When it was announced at the 2013 Wrooom that Ben Spies and his Pramac Ducati would be sponsored by 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 with a passion for motorsport – a lot of fans were left slightly puzzled, and wondering why an investment firm, a New York one to boot, would invest in MotoGP that still hasn’t gained the popularity in the US in a big way like in Europe and the Far East, despite racing in two – this season in three – American venues.
So why did Ignite decide to invest? You can watch Ignite Asset Management’s Ryan Bonifacino talking about the reasons with Matt Miller on Bloomberg Television’s “Bloomberg Rewind.