Citigroup-owned Onemain Financial has been announced as the primary sponsor of newly-signed Joe Gibbs Racing (JGR) driver Elliot Sadler in the 2013 Nascar season.
Sadler, who finished the 2012 Nationwide Series season with Richard Childress Racing in second place, will drive a full schedule with JGR in 2013.
Under terms of Onemain Financial’s sponsorship, the company will serve as the full-season sponsor on Sadler's number 11 car across all 33 races in next year's Nationwide Series.
Additionally, Onemain Financial will have associate logo placements on two other JGR Nationwide Series entries.
Though financial terms of the agreement were not released, based on deals of a similar nature Onemain Financial's sponsorship commitment is estimated to be worth roughly US$6 million.
“We are thrilled to continue our incredibly successful presence in the Nascar Nationwide Series," said Onemain Financial president and chief executive Mary McDowell added. "Our customers and employees are huge supporters of this great sport, and we could not be happier to continue our relationship with Elliott Sadler and team up with Joe Gibbs Racing in this new partnership. Elliott and our racing programme were integral components of the Onemain Financial brand launch last year, and we are looking forward to continuing to leverage this platform to grow our brand and our business in 2013."
Sadler added, “OneMain Financial has been a flagship sponsor in the Nascar Nationwide Series since 2005. I consider myself very fortunate to have shared in much of their success on and off the track. We've won poles and races together and hope to continue our winning tradition in 2013. Joe Gibbs Racing and Toyota have been a dominant combination in the Nascar Nationwide Series and I'm elated to have an opportunity to join forces with them as well."
”We’re excited about the partnership with Onemain Financial and having Elliott Sadler join our team in 2013,” said JGR president J.D. Gibbs. “Onemain Financial has been a tremendous supporter of our sport and has developed a successful programme that engages both their customers and employees. Elliott is obviously a great talent and his experience will be an asset to our entire Nationwide Series programme.”
In further American motorsports news, stock car series Automobile Racing Club of America (ARCA) has extended its relationship with CV Products. The three-year extension will see CV Products continue to serve the exclusive trackside sales and service performance parts retailer of ARCA through the 2015 season.