Title
Approve and authorize the Monterey County Laguna Seca Representative to:
a. Execute a three-year Sponsorship Agreement, with an additional three-year renewal option, effective January 1, 2022, between Motul USA and the County of Monterey for the IMSA Monterey Sports Car Championship, as an official Motor Oil Sponsor, Heritage Display Sponsor at the Rolex Monterey Motorsports Reunion, and year-round Paddock Classroom Title Sponsor for WeatherTech(r) Raceway Laguna Seca in the amount of $300,000 for the year 2022; $412,000 in 2023; and $425,000 in 2024; and
b. Negotiate and execute one (1) future amendment to this Agreement for the renewal term of 2025-2027.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors approve and authorize the Monterey County Laguna Seca Representative to:
a. Execute a three-year Sponsorship Agreement, with an additional three-year renewal option, effective January 1, 2022, between Motul USA and the County of Monterey for the IMSA Monterey Sports Car Championship, as an official Motor Oil Sponsor, Heritage Display Sponsor at the Rolex Monterey Motorsports Reunion, and year-round Paddock Classroom Title Sponsor for WeatherTech(r) Raceway Laguna Seca in the amount of $300,000 for the year 2022; $412,000 in 2023; and $425,000 in 2024; and
b. Negotiate and execute one (1) future amendment to this Agreement for the renewal term of 2025-2027.
SUMMARY/DISCUSSION:
Motul USA (Motul) wishes to enter into a three-year Sponsorship Agreement (Agreement) with the County with a first right of refusal option to renew the Agreement for one additional three-year term (2025-2027.) The initial term of the proposed Agreement shall begin on the January 1, 2022, and end on October 1, 2024, unless sooner terminated in accordance with the Agreement. During the term of the Agreement, Motul shall be the sponsor for the IMSA Monterey Sports Car Championship, the official Motor Oil Sponsor, Heritage Display Sponsor at the Rolex Monter...
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