Andretti Autosport have announced that it is in negotiations with multiple companies to assume the 2011 primary sponsorship of the IZOD IndyCar Series entry driven by Ryan Hunter-Reay.
IZOD served as primary sponsor with the team in 2010 and notified the team last week that it will not renew beyond its initial one-season contract.
Recent media inquiries led to this clarification of Hunter-Reay's status with the team.
Fuelled by a popular win at the Long Beach Grand Prix and runner up finish in the season opening race in Sao Paulo, Brazil, Hunter-Reay's breakthrough season grew from a scheduled three events to full time status when Andretti Autosport's sponsors rallied behind Hunter-Reay.
His full season effort resulted in three podiums, six top five and 12 top 10 finishes.
Details of the ongoing negotiations will not be disclosed until the team's full sponsor line-up is announced at a later date.
John Lopes - Senior Vice President and Chief Marketing Officer Andretti Autosport: "Andretti Autosport is grateful for the support provided by Phillips-Van Heusen while introducing Ryan Hunter-Reay as an instant fit within our organization."
"We notified our sponsor family late last week that Ryan's primary sponsorship was open for 2011 and 2012, and we have already received one offer. Putting together a proper full season IndyCar budget these days typically takes multiple sponsor partners working together with the team and its fellow sponsors."
"Putting the puzzle together takes time, but Ryan may well be the most in-demand driver in our sport right now and we are fortunate that he brought all the right stuff to the team, and lots of key people noticed."
"We agreed to a new contract with Ryan the evening prior to this year's Indianapolis 500 and now it is the team's job to pull the details together quickly in order to put that contract into effect."
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