IndyCar: Gainbridge to become presenting sponsor of Indianapolis 500

By Asher Fair | Feb 1, 2019

INDIANAPOLIS, IN - MAY 27: The grid is seen prior to the 102nd Indianapolis 500 at Indianapolis Motorspeedway on May 27, 2018 in Indianapolis, Indiana.(Photo by Patrick Smith/Getty Images) /

Gainbridge has reached a four-year agreement to become the presenting sponsor of the Indianapolis 500 starting in the 2019 IndyCar season.

Gainbridge is set to replace PennGrade Motor Oil as the presenting sponsor of the Indianapolis 500 beginning with this year’s running of the “Greatest Spectacle in Racing”, which is the sixth race on the 17-race 2019 IndyCar schedule.

This announcement comes after PennGrade Motor Oil served as the presenting sponsor of the Indy 500 from the 100th running of the race in 2016 through the 102nd running of the race in 2018.

Gainbridge reached a four-year agreement that will make it the presenting sponsor of the 200-lap race around the four-turn, 2.5-mile (4.023-kilometer) Indianapolis Motor Speedway oval in Speedway, Indiana from this year through 2022, which is when the 106th running of the race is scheduled to take place.

Here is what Mark Miles, the president and CEO of Hulman & Company, the company that owns IndyCar, had to say about the online financial services company entering this four-year agreement to become the presenting sponsor of the Indy 500 beginning this year, according to IndyCar.

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"“We welcome Gainbridge to this new partnership with ‘The Greatest Spectacle in Racing. Gainbridge offers a bold, new way to steady growth, and we’re honored that the platform is being launched through this association with the Indianapolis 500 – an exciting global event with a rich history and a bright, dynamic future. It’s a perfect fit.”"

Here is what Dan Towriss, the president and CEO of Group 1001, the parent company of Gainbridge, had to say about the matter, according to IndyCar.

"“Gainbridge’s simplified approach to delivering annuities empowers investors who seek to maximize performance, but stay out of trouble, amidst today’s market volatility. In investing, like in racing, anything can happen. The key is to stay calm and have a strategy in place to hedge for the unexpected. The amazing parallels between Gainbridge’s philosophy and racing make our Indy 500 partnership that much more meaningful.”"

Group 1001 has been involved in IndyCar as the sponsor of Zach Veach’s #26 Honda since Veach began driving full-time in the series for Andretti Autosport last season.

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The 103rd running of the Indianapolis 500 Presented by Gainbridge is scheduled to take place on Sunday, May 26, and it is scheduled to be broadcast live from Indianapolis Motor Speedway beginning at 11:00 a.m. ET on NBC. Qualifying for the race is scheduled to take place on the prior Saturday (May 18) and Sunday (May 19).