Nascar team Hendrick Motorsports has renewed its partnerships with insurance group Nationwide and coating systems company Axalta for a further year.
The extension will see Nationwide work as the primary sponsor for Alex Bowman’s number 88 entry at 19 races during the 2018 Monster Energy Nascar Cup Series season – worth as much as US$9.5 million over the year – while Axalta will have its branding imprinted on the car for 15 races – a deal valued at around US$7.5 million.
Nationwide first teamed up with Hendrick Motorsports in 2015, while Axalta has a long-term association with the team, having initially signed an agreement in 1992.
24-year-old Bowman is set to take over behind the wheel of the number 88 car from the popular two-time Daytona 500 winner Dale Earnhardt Jr, who announced in April that 2017 would be his final year of racing full time.
“Our relationship with Nationwide is unbelievable,” said Rick Hendrick, the owner of Hendrick Motorsports. “They have a true passion for Nascar and our fans, and to have them extend with us is gratifying for our whole team. It’s also a credit to the way Alex carried himself last season and built lasting relationships. We’re fortunate to work with partners like Nationwide and Axalta that have built impactful, enduring programs around the countless opportunities our sport provides.”
“We are thrilled to continue our relationship with Hendrick Motorsports and welcome Alex to the number 88 Nationwide team,” added Terrance Williams, chief marketing officer for Nationwide. “Rick Hendrick and the number 88 team have been exceptional partners for the last three years, and we look forward to our joint commitment and engagement with the Nascar community, both on and off the track.”