Indy 500 Gets Presenting Sponsor In 3-Year Deal

Last updated on Friday, January 22, 2016

(INDIANAPOLIS, IN) - For the first time ever, the Indianapolis 500 will have a presenting sponsor this year.

For the 100th running, the race will be called the Indianapolis 500 presented by PennGrade Motor Oil.

The sponsorship deal is reportedly for three years and worth around $5 million.

"It's terrific," IndyCar Series team owner Roger Penske said. "Anything that helps the Speedway is good for the sport."

The 100th running of the Indianapolis 500 will be on May 29th.

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