Credit One Bank has renewed its commercial agreement with Monster Energy Nascar Cup Series team Chip Ganassi Racing (CGR).
The financial service provider, which is the official credit card of Nascar, will be the team’s largest sponsor and most prominent logo on Kyle Larson’s number 42 Chevrolet for multiple races in the 2018 season of the premier US stock car series.
Credit One will essentially replace long-time CGR sponsor Target, which ended its support of the number 42 at the end of the 2017 Nascar season. Target was Larson’s primary sponsor for 19 races in his previous campaign, while Credit One was his primary sponsor for 11 races.
The American bank will also appear as an associate sponsor on the number one Chevrolet of Larson’s teammate Jamie McMurray in 2018.
Although CGR confirmed that the association will begin with the 2018 Daytona 500 neither the financial terms nor the exact amount of races were made public. However, trends in Nascar would suggest that Credit One Bank will be paying CGR somewhere in the region of US$400 to US$800,000 per race.
“It’s great that Credit One Bank will be expanding their partnership with our team next season,” said Larson. “It’s been cool to see their excitement and interest in our team and Nascar grow throughout this year. We’ve had some exciting races with them on board and hopefully there’s more to come next year.”
Laura Faulkner, vice president of marketing communications for Credit One, added: “Credit One Bank is thrilled to continue our partnership with Chip Ganassi Racing and the number 42 team and Kyle Larson by becoming the leading team sponsor.”