IndyCar Series officials announced a deal Aug. 6 making Switzerland-based TAG Heuer the official watch of the open-wheel series and Indianapolis Motor Speedway.
The deal includes naming-rights sponsorship of the TAG Heuer Pit Stop Challenge, held annually each May on Carb Day the Friday before the Indianapolis 500.
Financial details of the deal were not released, but motorsports sponsorship experts estimated it would be worth a low- to mid-six-figure sum to the series and IMS annually.
To commemorate the partnership, TAG Heuer has created a special edition watch, the Indy 500 Chronograph.
The winner of each race throughout the Verizon IndyCar Series will receive the timepiece as part of their winnings.