Indiana mortgage lender hopes sponsoring Indy 500 winner pays off

FORT WAYNE, Ind. (AP) — An Indiana lender hopes its sponsorship of this year’s winner of the Indianapolis 500 will pay off.

The Journal Gazette reports Fort Wayne-based Ruoff Home Mortgage’s logo was on Takuma Sato’s car during Sunday’s three-hour race. The logo was also visible on his fire suit.

Company founder and CEO Mark Music says he hopes the sponsorship will generate exposure for the company as it plans to expand its operations in Fort Wayne. Music declined to comment on the sponsorship’s price, but he says it’s the most expensive sports sponsorship he’s made.

He says the company spends more than $2 million annually on sports-related marketing and another $1.2 million on other advertising campaigns.

Floyd & Partners President Bob Floyd says sponsoring an Indy car is “a very expensive long shot.”

Ruoff has locations in South Bend, Elkhart, LaPorte, Plymouth, and Warsaw.