Penske happy to extend deals for sponsor, Logano
DAYTONA BEACH, Fla. — Team Penske has locked up a major portion of its NASCAR program by signing driver Joey Logano, crew chief Todd Gordon and sponsor Shell-Pennzoil to extensions that run through “2022 and beyond.”
The phrasing of the new contracts announced Friday at Daytona International Speedway is a play on Logano’s car number — 22. His existing contract ran through 2018, and the extension is believed to be a five-year deal through 2023.
“This was one of those decisions that was a no-brainer,” Logano said. “When you’re able to find yourself in an amazing opportunity with a lot of winners around you, that’s great. … I want to be with people who want to win as bad as me.”
The partnership with Shell extends to Penske’s IndyCar program, and Roger Penske said he’s currently working on a contract extension with three-time Indianapolis 500 winner Helio Castroneves.
Penske is also working on an extension with NASCAR driver Brad Keselowski, Logano’s teammate. His current contract expires at the end of this year, and Penske said he likes to get deals done early to avoid the chaos of free agency.
Logano has driven for Penske since 2013, winning 15 races and finishing as high as second in the standings. The contract extensions were a year in the making, and they give Shell “more than 30 races” with the No. 22 Ford. Penske loves that type of commitment from a sponsor he considers a company partner.
“From a logistics standpoint and an image standpoint, this is a very important deal,” Penske said.
The Logano deal was announced one day after FedEx signed a sponsorship extension with Joe Gibbs Racing and driver Denny Hamlin, last year’s Daytona 500 winner. That deal is also for the majority of this season’s races, which makes FedEx, Shell, Lowe’s and Menards only a handful of companies willing to spend the $10 million to $20 million a year for a significant sponsorship stake.