US stock car racing team Hendrick Motorsports have agreed a four-year extension of their long-running partnership with global coatings company Axalta.
The deal will see Axalta serve as a primary sponsor of the Nascar team for 25 races each season between 2018 and 2022. The company will sponsor Alex Bowman for 15 top-tier Nascar Cup Series races in 2018 and 12 races in 2019, while it will back William Byron for ten races in 2018 and 13 races in 2019. The allocation for 2020 to 2022 is set to be revealed at a later date.
The agreement prolongs a partnership which dates back to 1992. The deal comes shortly after Axalta announced its return in February as the official paint partner of Nascar.
“We are so proud of our partnership with Axalta,” said Hendrick Motorsports owner Rick Hendrick. “Their long-term commitment to our organisation and our sport as a whole has been unbelievable. They are constantly innovating and investing to keep the program fresh, enhance the experience for their customers and ultimately drive value for their business.
“We’ve worked together for more than a quarter of a century, and I believe it’s just the beginning.”
“Motorsports is in Axalta’s DNA,” added Axalta chairman and chief executive Charlie Shaver. “For more than 25 years, our partnership with Hendrick Motorsports has enabled us to showcase our industry leading performance coatings that have helped make cars lighter, more efficient and look terrific. We’re excited to continue our successful partnership with Hendrick Motorsports through 2022.”