Indy 500 signs first ever presenting sponsor

The Indianapolis 500 will have a presenting sponsor for the first time in its 100 race history this May.

Indianapolis Motor Speedway management have announced a three-year deal with Indiana-based D-A Lubricant Company, PennGrade Motor Oil.

Under the agreement the race will be officially known as the Indianapolis 500 presented by PennGrade Motor Oil.

“This historic announcement is welcome news for the Indianapolis Motor Speedway and generates even more momentum for the entire Verizon IndyCar Series,” Hulman & Company CEO Mark Miles said.

“PennGrade Motor Oil, with its deep understanding of the heritage and tradition that fuels the Indy 500, is the perfect presenting sponsor for the world’s greatest race.”

D-A Lubricant sponsored entries in the 500 from 1955-58 and was an associate backer of Graham Rahal’s IndyCar last year under an ongoing deal.

In other Indy 500 news, 20-year-old Sage Karam is the latest driver to be confirmed for the May 29 race, inking a deal with Dreyer & Reinbold.

Karam made his IndyCar debut in a Dreyer & Reinbold fielded entry at the 500 two years ago, before running 12 races with Chip Ganassi in 2015.

Dallas-based car restoration business Gas Monkey Garage will sponsor Karam’s Indy entry through its soon-to-be-released energy drink brand.