Competing models such as the Cadillac Eldorado and the Continental Mark VI had been downsized by 1981, so the Imperial was of comparable size to its competitors with a roughly $20,000 price tag. A marketing effort for the new model included commercials and magazine ads featuring singer Frank Sinatra, a personal friend of Iacocca whom Sinatra jokingly referred to as "the other chairman of the board." Sinatra even recorded special songs to promote the new Imperial. In addition, Sinatra agreed to work for Chrysler for $1 a year because he believed that more performers should get involved in helping to save jobs in the United States.