Team Penske announced on Thursday a multi-year contract extension with their major sponsorship partner, Shell Pennzoil, which will have ramifications on their NASCAR team, IndyCar team, the NTT IndyCar Series, Indianapolis Motor Speedway and more.
Per a press release from Team Penske, the gold and red colors of Shell Pennzoil will remain on Joey Logano’s No. 22 NASCAR Cup Series Ford Mustang as the primary sponsor for 30-plus races per season.
For Logano, who scored the 2018 NASCAR Cup Series championship with Shell Pennzoil, he’s excited to keep moving forward with the iconic brands on his race cars.
“Shell-Pennzoil has become one of the iconic sponsors within our sport and I’m proud of what we have accomplished together so far,” said Logano in a press release. “Since taking over the No. 22 at Team Penske, the last 10 years we have been able to celebrate in Victory Lane with many of their employees and customers over 25 times including a Cup Championship, Daytona 500 and two Pennzoil 400 wins, which have been some of the highlights so far in my racing career. The best part is, it’s an authentic relationship for me that fits my brand on track as a race car driver and supports what I represent off the track as well. It’s a privilege to be associated with Shell-Pennzoil and excited to see their continued commitment to our sport.”
Shell and Pennzoil will also serve as the primary sponsors for two of Team Penske’s entries in the 2023 Indianapolis 500 — Josef Newgarden’s No. 2 car and Scott McLaughlin’s No. 3 car.
Additionally, Shell will become the official fuel supplier of the NTT IndyCar Series. The release from Team Penske states that additional details regarding that deal will be announced soon.
“This new and significant step forward in our relationship with both the Shell and Pennzoil brands is tremendous news for our entire Series, our storied venue and our legion of racing fans across the globe,” said Penske Entertainment Corp. President & CEO Mark Miles. “Shell will be a terrific fuel sponsor for INDYCAR, helping us maintain our world-class standards on track while always keeping an eye on the future. When it comes to our historic and exciting Brickyard Weekend, we know the team at Pennzoil will continue to invest in its growth and success here in Central Indiana and beyond.”
Pennzoil will continue on as the “Official Supplier of Lubricants” for Team Penske, and Pennzoil will also extend its sponsorship as the Official Motor Oil and Lubricant Supplier of the Indianapolis Motor Speedway, IndyCar and the NTT IndyCar Series.
Pennzoil will also retain naming rights to the NASCAR Xfinity Series Pennzoil 150 at the Brickyard race.
Also, Shell and Pennzoil will continue to serve as the preferred fuel and lubricant supplier for Penske Transportation Solutions and Penske Automotive Group.
“We are proud of the global business relationship with Shell and Pennzoil that extends across our Penske companies,” said Roger Penske. “Over the years, we have experienced great success together on the track and the relationship has evolved to include our transportation business operations all over the world. Our teams are also working with Shell and Pennzoil on product development and multiple sustainability initiatives to help keep us focused on the future.”
Penske had a relationship with Shell-Pennzoil back in the 1980s, which led to two Indianapolis 500 wins, but it was in 2011 when the partnership sparked back up.
For Shell, this multi-year extension is the embodiment of what the company has been doing for more than 100 years.
“For more than 100 years, Shell has been forging long-lasting relationships that extend beyond the brand and products the company produces,” said Steve Reindl, President, Shell Lubricants Americas. “Our relationship with Penske continues to evolve, both commercially and in motorsport, giving Shell and Penske a vast platform to pursue our respective sustainability and decarbonization goals.”
This is an absolutely impactful announcement for Shell, Pennzoil, Team Penske, the NTT IndyCar Series and Indianapolis Motor Speedway as a whole.