Domain registrar and Web hosting provider Go Daddy announced on Thursday that after ten submissions, the Fox television network has approved its 2008 Super Bowl ad.

Prior to receiving the nod from Fox, Go Daddy submitted five concepts, three of which Go Daddy produced in-house, as well as several revisions. The commercial, entitled “Spot On”, features many character actors as well as a key appearance by Indy race car driver and Go Daddy Girl Danica Patrick.

Go Daddy CEO and founder Bob Parsons says he is disappointed that Fox won’t approve another commercial featuring Patrick, but both parties will compromise. The ad, entitled “Exposure,” contains the word “beaver”, which Go Daddy says is used to reference the Animatronics beavers that appear in the ad. Parsons says he refused to yield to Fox’s request to remove the word.

“I think Exposure is the funniest commercial we’ve ever made. It’s hilarious,” says Parsons. “We are going to have to make lemonade out of lemons on this one. It’s risky, but we’ve changed our whole marketing plan so we can leverage something out of this smokin’ hot spot.”

Parsons says he will use the thirty-second approved Super Bowl commercial slot to tell people how to see the ad originally intended for Super Bowl on the Go Daddy website. Exposure will be available at GoDaddy.com/SuperBowl08 when the company’s approved commercial airs game day, February 3.

Web hosting provider and domain registrar Go Daddy announced on Thursday that after a lengthy battle over content, the 14th ad submitted by the company was approved by ABC Television’s standards and practices division to air during Super Bowl XL.

Go Daddy has been struggling to meet the approval of ABC since it signed up to run a 30-second spot during the game, scheduled for February 5. On his blog, Go Daddy’s founder and president Bob Parsons has been chronicling the struggle to gain approval for an ad he felt was sufficiently “godaddy-esque.”

“This showdown went down to the wire,” said Parsons in the press release. “We were about out of time and had produced our 14th and final attempt. I’m ecstatic about being in the Super Bowl again.”

On Wednesday, Go Daddy held a press conference to discuss the status of its efforts to meet with ABC’s approval. In the announcement for the meeting, the company lauded its controversial ad from the previous year’s Super Bowl.

Following the meeting, the company posted some of its previous efforts on its Web site.

With Go Daddy ever vocal about the marketing virtues of controversy, the struggle to meet approval was to be expected. And with millions of dollars tied up in this particular advertising effort, it is not terribly surprising that Go Daddy managed to turn up a standards-friendly spot for the final round.