Ally Signs Three Year Extension in Deal With Hendrick Motorsports Through 2023

As a report by Sports Business Journal’s Adam Stern on Thursday indicated, Ally has agreed to a contract extension with Hendrick Motorsports. The new contract will give the financial company full-season sponsorship on the No. 48 Hendrick Motorsports car through the 2023 season. The team made the announcement through a press release on Friday morning.

“Our first year with Jimmie and the team at Hendrick Motorsports has been phenomenal,” said Andrea Brimmer, Ally’s chief marketing and public relations officer in the release. “Jimmie’s the ultimate competitor, and Ally is proud to support him and the rest of the No. 48 team. We are thrilled to extend our contract and build on the incredible momentum we’ve established. This sponsorship goes way beyond just putting our logo on the car. It’s built on our shared values for doing right in the communities we race in, while growing our brand with passionate, new audiences. We look forward to many more exciting laps together.”

For car owner Rick Hendrick, the important thing with aligning with a company like Ally is their company values.

“Ally’s values are our values,” said Rick Hendrick, owner of 12-time NASCAR Cup Series champions Hendrick Motorsports. “Working with integrity, being accountable to one another, and leading in both the workplace and in our communities are all core beliefs that we share. This is a tremendous relationship on many levels, and to see it have success and grow so quickly is truly meaningful. Jimmie sets the standard and is a wonderful representative for Ally. Today is a great day for all of us.”

Driver Jimmie Johnson has been excited to see the electric nature of which Ally has entered the sport.

“The energy Ally has brought to the No. 48 team, Hendrick Motorsports and the sport of NASCAR is contagious,” Johnson said. “They have embraced our fans, activated their program in unique ways and supported me at every turn, from racing my No. 48 car every week to running the Boston Marathon. It’s a true bond – not just a business transaction. We care about each other’s success. I’m proud to be associated with Ally and can’t wait to see what they do in the future.”

Johnson’s current contract with HMS goes through the end of next season, but he did not sign an extension to go along with this announcement — yet.

The team indicated in the press release that Johnson will announce his future plans past the 2020 season at a later date.

Regardless, this is an awesome commitment from Ally toward Hendrick Motorsports.