Automotive company Chevrolet has extended its title sponsorship of Indycar’s Chevrolet Detroit Belle Isle Grand Prix.
The new deal extends an association first formed in 2012, when the race returned to Chevrolet’s hometown for the first time in four years. Since then, Chevrolet has contributed towards US$2.7 million worth of improvements at the Belle Isle circuit.
Financial terms of the deal were not released. However, Indycar race title sponsorships typically sell for anything between US$300,000 and US$500,000.
“We are very excited to continue our partnership with Chevrolet to build on the momentum we’ve established with this wonderful event,” said Bud Denker, the chairman of the Chevrolet Detroit Belle Isle Grand Prix.
“Without the support of Chevrolet, we would not have been able to bring world-class auto racing back to the Motor City and with an extension of this partnership we know the future certainly looks bright on Belle Isle for the Grand Prix.”
This year’s event, a Verizon IndyCar Series doubleheader, takes place from May 30 to June 1 at the 2.3-mile Raceway at Belle Isle circuit. Mike Conway and Simon Pagenaud, who won the races last year, will return to defend their titles.