For the first time, the Indianapolis 500 will have a presenting sponsor.
Eyewitness News has confirmed that D-A Lubricants' Penn Grade Motor Oil signed a three-year deal worth $5 million to be presenting sponsor. The Lebanon-based company has a history with the iconic race that dates back to the 1950s.
"This historic announcement is welcome news for the Indianapolis Motor Speedway and generates even more momentum for the entire Verizon IndyCar Series," Hulman & Company CEO Mark Miles said. "PennGrade Motor Oil, with its deep understanding of the heritage and tradition that fuels the Indy 500, is the perfect presenting sponsor for the world's greatest race."
D-A Lubricant sponsored entries in the Indianapolis 500 from 1955-58. Last year, the company was an associate sponsor of Graham Rahal's car and is continuing their sponsorship of his team into the future.
"I can't think of a more powerful vehicle to help us launch our brand PennGrade Motor Oil than the Indianapolis 500," D-A Lubricant Company President Gisela Miller said. "The eyes of the world will be on the Indianapolis Motor Speedway this May as they are every year, and I couldn't be more excited to have our company sharing that spotlight."
The official title of the race this year will be the 100th Indianapolis 500 presented by Penn Grade Motor Oil. The race is scheduled for Sunday, May 29.