For Nationwide race, RIR goes by the book

NASCAR officials have struggled the past year to keep cash-strapped companies from bailing out of sponsorship deals. As a result, they have ventured outside the box to secure new partnerships.

While officials at Richmond International Raceway acknowledged earlier this year that it's possible General Motors may not sponsor the fall Sprint Cup event after its contract expires this year, they announced yesterday a sponsorship deal with the Virginia College Savings Plan for entitlement rights for the Sept. 11 Nationwide race at RIR.

"We reached out to NASCAR and the racetrack," said Mary Morris, CEO of Virginia College Savings Plan. "We had been talking with them for a long time.

"We've got a large partnership with Virginia high school athletics, too. We think people in sports are trying to do what we're trying to do striving to do their best and succeeding.

The race will officially be titled the Virginia 529 College Savings 250. The Chevy Rock & Roll 400 is scheduled to be contested under the lights Sept. 12.

Also, the Virginia College Savings Plan has been named the official college savings plan of the racetrack.

"We are excited to have the Virginia College Savings Plan on board with Richmond International Raceway as an official partner and a race entitlement partner for our September NASCAR doubleheader weekend," said Doug Fritz, president of RIR. "The [VCSP] is a great organization assisting Virginians across the commonwealth who are seeking higher education."

RIR and Virginia College Savings Plan, a Richmond-based organization, agreed to a one-year deal with provisions to extend it past 2009.

"With such a broad fan base, Richmond International Raceway can help us reach thousands of people with the message that it's never too early--or late--to start saving for higher education, for yourself or anyone you know," said Morris, whose organization had a less visible presence during last month's IndyCar Series event at RIR.

Morris is hoping to expand the organization's reach beyond its traditional base. The organization spent the past 18 months hammering out a deal that will enable it to extend is marketing and advertising opportunities.

An estimated 300,000 NASCAR fans are expected to attend the weekend events at RIR. Morris is hoping the Nationwide race will have wide appeal, but an emphasis will be placed on families with kids 12 and under -- an age group receiving free passes for the Virginia 529 College Savings 250.

"The kids will have bands that show the college savings plan, so that introduces us to 300,000 people or so who are interested in saving for college," Morris said. "It's our opportunity to talk with [the families]. We can tell them about the tax advantages and the affordability of saving for college."

Contact Ralph N. Paulk at (804) 649-6851 or .