Shell-Pennzoil ink 5-year extension in Penske sports car portfolio
INDIANAPOLIS – Roger Penske signed a five-year contract extension with Shell-Penzoil on Thursday, which includes Team Penske, IndyCar, Indianapolis Motor Speedway and most of Penske’s portfolio.
Team Penske and Shell-Penzoil have together won 96 races, including Joey LoganoNASCAR’s recent win at Darlington Raceway.
The new deal has multiple layers and includes sponsorship of 30 races for Logano in NASCAR, as well as sponsorship of Indianapolis 500 entries for Josef Newgarden (Shell V-Power) and Scott McLaughlin (Pennzoil).
“We are proud of the global business relationship with Shell and Pennzoil that extends across our Penske companies,” says Penske. “Over the years, we have experienced great success together on the track and the relationship has grown to include our transportation businesses worldwide.”
Shell-Pennzoil and Team Penske in 2011 restarted a relationship that began in 1983 when Pennzoil was a sponsor of Rick Mears and won the Indianapolis 500s in 1984 and 1988 in a car dubbed the “Train Train”. underground yellow.”
Penske said ahead of Thursday’s announcement that negotiations had begun with Logano over a new contract. Logano’s current deal runs through 2023, and now that funding has been secured for the 22nd Ford, Penske is expected to finalize the extension soon.
Other highlights of the agreement include Shell becoming the official fuel supplier for the IndyCar Series; Pennzoil becomes the official lubricant supplier for Team Penske; and Pennzoil extend sponsorship as the official supplier of oils and lubricants to Indianapolis Motor Speedway and IndyCar.
“Our relationship with Penske continues to grow, both commercially and in motorsport, giving Shell and Penske a broad platform to pursue,” said Steve Reindl, president of Shell Lubricants Americas. our respective sustainability and decarbonization goals,” said Steve Reindl, president of Shell Lubricants Americas.