Indianapolis-based Just Marketing International has agreed to work with the league on all facets of commercial rights packaging and sales for not only the series, but also its drivers, teams, tracks and events. JMI also will work on media deals for the series.
Financial terms of the agreement were not released, but sources called it potentially a strong eight-figure deal.
Just Marketing's deals in NASCAR and Formula One bring the local firm's annual sponsorship portfolio to well over $150 million.
JMI's client list includes Crown Royal, Johnnie Walker, Hyatt Hotels, Subway, Brut, Direct TV and Field & Stream magazine to name a few.
JMI founder Zak Brown was instrumental in carving out several sponsorship categories for NASCAR, including ushering in an era that allowed hard liquor makers into the paddock as sponsors.
Brown, a California native and retired racer, moved to Indianapolis to be closer to the city's motorsports scene. But he has no IRL sponsorship deals.
Last year, Brown announced that one of his primary goals was to ink an IRL title sponsorship deal. Brown said he is "extremely confident" he can bring new sponsors to the series.
"Looking across the motorsports landscape, we see the IndyCar series offering enormous and affordable value," Brown said.