Gallagher, the international insurance giant, has today (April 29) entered into a multi-year partnership with the Penske Entertainment holding company covering the US IndyCar motor racing series that is owned by the US corporation.

The partnership includes title sponsorship rights for an IndyCar Series event on July 30, which will now be called the Gallagher Grand Prix.

In addition, the insurance firm will sponsor a Team Penske entry at “two upcoming IndyCar Series events”, the series has said.

As well as these assets, Gallagher will have signage branding rights at both the iconic Indianapolis 500 race in that city and at other Indianapolis Motor Speedway (IMS) events. It will also become the branded partner of a hospitality pavilion at that venue.

Roger Penske, the Penske Corporation’s overall owner, said: “We know that Gallagher shares many of the core values that are important across our Penske Entertainment and Team Penske motorsports properties.

“Gallager 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.”

Christopher Mead, chief marketing officer at Gallagher, added: “In partnering with Penske Entertainment and Team Penske, we are able to do what we do best – provide solutions that every business needs – insurance, risk management, and consulting – while also having an exciting opportunity to forge new relationships with an outstanding brand.”

Earlier this month, Penske Entertainment and the Team Penske outfit partnered with Autograph, the sports and entertainment non-fungible token (NFT) platform co-founded last year by NFL icon Tom Brady.

The multi-year deal, which was announced today (April 14), will see Autograph create NFTs for the Penske team, as well as the IndyCar Series and IMS.