Hendrick lands Ally as new sponsor for Johnson

MARTINSVILLE, Va. — Hendrick Motorsports has landed Ally Financial as a full-season sponsor for seven-time Cup champion Jimmie Johnson in 2019 and 2020.

Ally Financial will replace Lowe’s, which has sponsored Johnson since he entered the NASCAR Cup Series as a rookie in 2002. The home improvement company announced in March it would not return as sponsor for Johnson in 2019.

The deal with Ally correlates with the 43-year-old Johnson being under contract with Hendrick through 2020. He has said he has no plans to stop racing.

“The opportunity to work with a partner like Ally is incredible,” Johnson said in a statement. “Their commitment to leading in both the workplace and the community is something that resonates with me in a big way.

“They’ve sent a strong message about how much they believe in me and in our team, and I will do my part to make sure it’s the best investment they’ve ever made. I’m ready to chase more history with Ally on board the 48.”

Sponsoring Johnson could be a windfall in publicity if Johnson can win an eighth title. His seven Cup titles is tied with Richard Petty and Dale Earnhardt for the most Cup championships. Johnson, 15th in the 2018 standings, has 83 career wins (tied for sixth on the all-time wins list) but is riding a 55-race winless streak.

“We look forward to working with this extraordinary team to build a strong and successful relationship as Ally enters this exciting sport,” Ally CEO Jeffrey Brown said.

Full-season sponsorships for all 38 events are rare in NASCAR. Terms were not announced. Last year, Hendrick was getting $8 million for 12 races for Kasey Kahne from Farmer’s Insurance.

Hendrick Motorsports reports that has reached renewals or new partners with 17 companies this year.

“This is a proud day for our entire organization,” team owner Rick Hendrick said. “Ally has built a tremendous brand by putting the customer at the center of their decisions.”