![]() |
|
 | | Larry Pegram | Pegram Racing Team - Keeping Up with the Factories | |
|
By Ed Kuhlenkamp of Build-Momentum
The battle between factory teams and privateers (or privately funded teams) has been going on since the emergence of manufacturers on the racing landscape. The burning desire of privateers to compete with (and beat) the factory-sponsored riders is what drives many of these teams to show up week in and week out, and give it all they've got.
A growing trend in AMA Superbike racing is privately-funded teams that look more like factory teams than underfunded privateer efforts. These teams are bridging the gap between full-factory teams and privateer teams. Many of them add to the entertainment value of AMA Superbike racing. In addition, their efforts to raise capital outside the motorcycle industry create additional commercial awareness about this exciting motorsport. Currently, these teams get financial and product support from the motorcycle industry, however, in the future it is likely that they will increasingly rely on money from outside corporate sponsorships.
One team that is leading the way and steadily chipping away at the factories is the LeoVince Pegram Racing Ducati Team, run by Larry Pegram. As a third-generation motorcycle racer, Larry is no stranger to motorcycle racing. He is well known in the racing world and has raced motorcycles practically all of his life.
Early in his career, Larry raced for a number of famous teams like Ferraci Ducati, Yoshimura Suzuki, and Erion Racing. Today Larry owns and manages the LeoVince Pegram Racing Ducati Team. The team is supported by Ducati North America, but not a full-factory effort. Larry approached Ducati with the idea for the team after they made the decision to pull out of AMA Superbike racing at the end of 2006 and Ducati racing fans are glad he did.
Landing the Ducati support was a good sign for Pegram, who made the decision three years ago to venture out and start building Pegram Racing. Prior to launching the team, Larry spent many years riding for other factory and non-factory teams. Along the way he developed his own ideas of how to run a competitive race team.
Since making the decision to start his own team, Larry has never looked back. Through his iron-willed determination and tremendous support from the motorcycle industry, Larry has consistently fielded a team that can finish in the top ten and even share the podium with his factory-sponsored peers.
While the LeoVince Pegram Racing Ducati Team is not remotely close to operating on the budget levels of the factory teams, (or for that matter, even the more highly financed privateer efforts) the team's race results and paddock look every bit as good as the multimillion-dollar teams. The professional look of the team paddock and impressive race results are both due to Larry's competitive spirit and commitment to marketing motorcycle racing just like any other professional sport.
As one would imagine, Larry is the primary force behind the Pegram Racing marketing machine, but he is also surrounded by a highly competent and committed team. Not surprisingly, many of Larry's key players are also members of the Pegram family. His dad, Jim, drives the rig and keeps all the race operations running smoothly and his mother, Mary, stays on top of feeding the crew and managing the hospitality for sponsors and guests. Even his wife, Heather, a professional model, is the umbrella girl.
The family support helps to keep his expenses down, but it takes more than that to run a competitive team on a tight budget. Every expense has to be weighed against whether it makes the team more competitive on the track or more marketable to sponsors. In the end, Larry has to make it all work with the resources he has at hand. Sometimes it gets tight, but so far everything has worked out.
In 2006, Larry realized that to grow the team was going to require money from outside the industry (non-endemic). Watching the rapid growth in road racing over the past 10 years, he sees the sport as a natural fit for luxury brands interested in reaching affluent males. Larry partnered with Build-Momentum to help him brand the team and build relationships outside of the motorcycle industry. Since that time the two companies have been working closely and making steady progress building awareness for Pegram Racing and AMA road racing in the corporate market.
Larry's ability to put together sponsorships within the industry has a lot to do with his approach to sponsor relationships and his solid understanding of marketing a professional team. Pegram recognizes that first and foremost the sponsorship must yield a return for the sponsor and add value if it is going to be there next year; and being there next year is critical to growing a top-performing team.
The team also looks for sponsors that want to headline Pegram Racing in their marketing program. That commitment helps brand the team, but it also ensures that the sponsor will be open to new marketing ideas from the team. Larry is constantly looking for cross-promotion opportunities between sponsors and media events to spotlight the sponsors' brands. A race team has to be just as proactive in finding ways to add value for the sponsor, as they are in searching for the sponsor. The work has only just begun when a team lands the sponsor.
Many of Larry's sponsors have been with him for a number of years. One of Larry's biggest supporters is LeoVince Exhausts, the title sponsor of the team in 2007. LeoVince is really the model of a great sponsor; their products are top quality and provide the performance Larry needs to run at the front of the pack. But equally as important to the team is that LeoVince is a very aggressive marketer and they help the team beyond just providing money, and products.
Ducati has also been a great partner, providing the bikes and some capital, as well as technical support. Nick McCabe in business development has worked closely with the team to help develop non-endemic sponsors.
Both Ducati and LeoVince operate as true marketing partners, working closely with the team to come up with creative ways to gain additional exposure and find more sponsors.
Two other long time sponsors and supporters of Larry are located in Virginia - Triangle Cycles and Warren Trucking Company. Rusty Reynolds of Triangle Cycles and Richard Eanes of Warren Trucking have both been instrumental in helping Larry develop his team. Not only do they sponsor the team, but sometimes they are even part of the crew, helping in the pits.
As a corporate spokesperson, Larry is one of the best. Spend a few minutes with Larry and you understand the key to his ability of attracting sponsors. When he is not in race mode, Larry is very charismatic and entertaining. He has tremendous knowledge about the motorcycle racing industry and can communicate the information in an articulate manner. He is also quick on his feet and never sounds like a pre-recorded commercial for his sponsors - yet he always manages to get in a plug for them. Larry has lots of heart and a passion for motorcycles, and that comes through loud and clear to his sponsors and fans.
Results for 2007 have been excellent considering the odd mishaps at a few of the races. Larry made the podium with a third-place finish at California Speedway after a tough battle with Chaz Davies of Celtic Racing. At Miller Motorsports, Larry pulled the holeshot from the second row. After the Miller Motorsports race Larry stands in 4th place overall, with only four races remaining in the Lockhart-Phillips USA Formula Xtreme Series.
The team is learning both from their successes and mistakes and fine tuning the program. Larry Pegram is getting attention for the team within the industry and outside the industry.
The lack of funding has been both a blessing and a curse in many ways, but it is something the team is working aggressively to change. The LeoVince Pegram Racing Ducati Team maximizes their resources by using a creative approach to solving the many challenges that racing presents. While the lack of funds has made it difficult to consistently get on the podium, the team's creative skills will serve them well as they assemble the proper financial resources. Who knows, those skills might even give them an edge on their competitors someday.
|
|
|
![]() |
