Longtime racing fan George Del Canto is coming off the bleachers to start up his own IndyCar Series racing team.

Del Canto, who has spent most of his career as an international banker in Houston, has quickly learned that it's not enough to just put a team together, buy a car and travel to the races. Forming a team has required budgeting skills, negotiation and a lot of sponsor schmoozing.

"Fortunately, my background is enabling me to see a team as a business from the viewpoint of sustaining it," he says.

Prior to announcing his team, Del Canto -- who is a banker with GDC Trading LLC -- studied other teams that have been successful over the years, including Target Chip Ganassi, Team Penske and the Andretti Green team. Andretti Green is currently the league leader, with the winnings of its driver, Dario Franchetti, standing at about $2.8 million.

Hoping to emulate those teams, Del Canto has put together Kingdom Racing, a combination IndyCar Series team and Christian ministry, and is racing to get together the $7 million needed to have his team competing in the 2008 season. The upcoming season consists of 17 races, including the coveted Indianapolis 500, beginning in March 2008 and ending in September 2008.

Del Canto is currently interviewing support staff for the team, and -- assuming he has a sponsor in place -- will begin courting drivers once the 2007 season ends next month. Once the driver and staff are in place, the group will purchase race cars and other required assets (see box).

When starting any business, there are bound to be risks, and Del Canto has found IndyCar to be no different.

He is at the stage of trying to sign sponsors that are willing to stick with the team for at least three years.

"We realize that sponsors come and go -- that's just the reality," Del Canto says. "We would like to see a sponsor stay with us for a while rather than just signing a three-year contract."

Del Canto says he fully understands that failing to secure investments or sponsorships can put the brakes on a team. He is also aware that sponsors want to be assured that their money is going to get them the best possible return on investment.

As such, Kingdom Racing has contracted with Katy sports marketing firm Counterpointe Sports to handle marketing of the team and the implementation of sponsorship programs.

Del Canto says that of the $7 million required for basic entry, a title sponsorship could cost about $5 million.

A typical sponsor package could include naming rights for the car, identification on the driver's uniform, collateral materials, signage on the 18-wheeler that transports the car to races, hospitality at the races, promotions and television appearances with the driver.

It may seem like a large sum, but Del Canto points to studies performed by Joyce Julius & Associates Inc. that show sponsors typically receive a 4.55 percent return on investment for every dollar spent. Ann Arbor, Mich.-based Joyce Julius measures and evaluates the impact of corporate sponsorships.

"A sponsor could wind up with $20 million or $30 million in exposure for its $5 million," Del Canto says.

Larry Foyt, team director for the Houston-based A.J. Foyt Racing IndyCar team, says teams simply can't exist without a sponsor because it is not possible to win enough money to sustain the team. His team's title sponsor is ABC Supply Co. Inc.

For every team making a long-term commitment to racing -- most have been involved for more than 10 years -- there are just as many that made it a year or a few years and then folded, says John Griffin, a spokesman for the Indy Racing League.

"It's not uncommon in any form of motor sports for people to come and go, but the reason an overwhelming majority do not return is the lack of a consistent sponsorship," he says.

To that end, Griffin says, the Indy Racing League offers assistance by making sponsorship sales calls on behalf of specific racing teams and helping teams put together sales presentations for sponsors...