IndyCar and Indianapolis Motor Speedway on Friday announced a new multiyear partnership with Chicago-based insurance brokerage Arthur J. Gallagher & Co.
The deal includes a title sponsorship for the July 30 IndyCar Series race, which will be called the Gallagher Grand Prix, as well as naming rights for the pavilion space at the racetrack’s Pagoda Plaza.
The agreement is between Gallagher and Penske Entertainment, which owns the IndyCar series, the track and IMS Productions. Financial terms were not disclosed, nor was the length of the deal.
Gallagher is among the world’s largest insurance brokerages, with 2021 revenue of about $8.2 billion and 39,000 employees.
“It is exciting that a global brand like Gallagher recognizes the opportunities to grow as a partner with the NTT IndyCar Series, the Indianapolis Motor Speedway and Team Penske, aligning with our goals and our vision,” owner Roger Penske said in written remarks. “Gallagher plans to take full advantage of our partnership to not only showcase their brand, but provide a special, one-of-a-kind experience through motorsports.”
The Gallagher Grand Prix is part of the triple-header Brickyard weekend, which also includes NASCAR Cup Series and Xfinity Series races.
With its name on the pavilion, Gallagher signage will be on display throughout the year at IMS. Company signage also will be showcased during the track’s Month of May activities, including the Indianapolis 500 on May 29.
In addition to its naming rights partnership, Gallagher will be the primary sponsor of Team Penske’s No. 3 car—driven by Scott McLaughlin—at two upcoming IndyCar series races: the Chevrolet Detroit Grand Prix presented by Lear on June 5 and the Gallagher Grand Prix.