Joe Gibbs Racing have secured a major primary sponsorship deal with Progressive Insurance.
Contract:
- Progressive will be primary sponsor on Denny Hamlin’s car for 18 races this season
- The company will also be a full-season associate sponsor with the team
- Progressive’s branding to be visible on Hamlin’s car and racesuit, in addition to his race crew
Context:
Joe Gibbs Racing had a sizeable hole in their sponsorship portfolio after the departure of FedEx at the end of the 2024 season. The logistics company had backed Denny Hamlin since he made his Nascar Cup Series debut in 2005 but had gradually reduced the number of races at which it ran full branding.
A full-season primary sponsorship reportedly costs up to US$25 million among the top teams in the Cup Series, with FedEx running on Hamlin’s car at 13 races last season. This produces a rough estimate of around US$10 million in sponsorship spend from FedEx.
While no value has been disclosed for this new deal, the same method results in an estimated investment of US$12 million to US$13 million from Progressive Insurance.
Comment:
“Progressive is a premier national brand and a leader in the insurance industry. We are thrilled to have them partner with Denny [Hamlin] and our No. 11 team,” said Joe Gibbs, owner of Joe Gibbs Racing.
“We all know that Nascar fans love being active and on the move, whether it is in their cars, trucks, motorcycles, boats or recreational vehicles, and we look forward to raising awareness on how Progressive can protect them and their families.”
Sean Freeman, Progressive’s business leader of direct media, added: “When the opportunity arose for us to be a part of the Joe Gibbs Racing family and support renowned NASCAR driver Denny Hamlin, we were all in.
“We love JGR’s pursuit of excellence and Hamlin’s proven success on the track. Together, our marketing and their driving styles align well and can’t wait to see the No. 11 in action.”
Coming next:
Progressive branding will be visible for the first time at this weekend’s race at Homestead-Miami, taking place from 21st to 23rd March.
Go deeper:
- Nascar’s US$7.7bn TV deal: Why the annual value went up, who gets what, and the impact on fans
- What’s going on with Nascar’s charter system?
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