Thursday, June 26, 2014

Two major sponsors re-up with NASCAR teams

   Two major sponsors for NASCAR Sprint Cup Series teams are extending their sponsorship deals this week.

   On Thursday, Caterpillar Inc. announced it had agreed to a multi-year contract extension with Richard Childress Racing to sponsor its No. 31 Chevrolet team and driver Ryan Newman. The partnership between RCR and Caterpillar began in 2009. Newman took over the driving duties for the team this season.

   "Cat dealers have been building relationships with customers at NASCAR events for more than 20 years.This contract renewal reaffirms our confidence in Richard Childress Racing and their commitment to excellence," said Pablo Koziner, Caterpillar vice president with responsibility for the Americas Distribution Services Division.

   On Saturday, Joe Gibbs Racing is expected to announce a contract extension with Dollar General, which sponsors the No. 20 Toyota team and driver Matt Kenseth. Sources said Dollar General has also agreed to a multi-year extension and will be expanding its sponsorship with the Cup team.