Mike,
$1,000 will definately do the job. Get with Pete with your idea, and he can get it into the schedule. I'm pretty sure he'd like to get 1/2 down as a deposit before the schedules are printed and mailed. (Those details are best left up to you and Pete.) Especially, if you are trying to get it under this years advertising budget!
Note to EVERY SPONSOR
Please be sure to do a small writeup of your company, so that he tower can advertise the event and your company. Be sure to give the tower what you do, where you are, etc. It helps the announcer TREMENDOUSLY when theres oil downs, or any other down times. They can read your card, and help get you some return on your investment! Lets help each other!