Penske secures Logano and Shell with multi-year contract extension
Team Penske has signed up Joey Logano and Shell/Pennzoil until 2022 — and beyond.
Team Penske announced on Friday that Logano will be locked into the No. 22 car with support from Shell for at least 30 races per season for the next seven years. Crew chief Todd Gordon’s contract will run concurrent with Logano.
Although Logano’s contract did not expire until the end of 2018, Penske wanted to secure his driver and sponsor as part of Team Penske’s long-term plan.
"We can say that we have a contract or a partnership with Shell, which we do beyond 2022, that’s massive for us not just here but across the business. To say that we’ve got Logano for the same period, we also have Todd Gordon, we think it’s one of the biggest announcements in motorsports to date.
“People are talking about the health of the sport and what’s going on. We think this is a watershed time.”
"No-brainer" for Logano
Since Logano joined Team Penske in 2013, he has posted 15 wins, 12 poles, 65 top fives, 95 top 10s and finished in the top 10 of the Cup standings. His best result came last year when he finished second to Jimmie Johnson.
“This was one of those decisions that was a no-brainer,” Logano said. “When you’re able to find yourself an amazing opportunity with a lot of winners around you, that’s great. Obviously, since joining Team Penske, it's been a huge turn in my career. The thing that I’ve learned is to surround yourself with greatness.
“To be a part of something like that, and surround yourself with people that are smarter than you — not only from the people that are up here on this stage but when you think about the 22 team and how close we’ve been able to grow together and when you attached Todd Gordon as well — is a huge advantage for us as a race team.
“To keep that continuity like Roger said, not only with the sponsor and with the driver and the team, but keeping everyone together and growing off of what we’ve been able to accomplish over the last four years and getting closer to that championship every year. I’m very fortunate and very excited.”
A strong, long-lasting relationship
Shell’s latest relationship with Team Penske was renewed in 2011. Along with Penske Trucking and Penske Auto Group, the partnership in motorsports enables Shell to further development its fuel and lubricants.
“From a sponsorship perspective, we try to build partnerships for many years,” Penske said. “We have 38 partnerships or sponsors in motorsports and 25 of them have business-to-business relationships. That’s the reason we’ve been able to sustain our commitment to motorsports — and Shell has certainly been at the top of that.
“Overall, it gave us a chance to combine the business-side and also we’ve used motorsports as a common thread through business to build it internally. You have two customers — the external customer that we’re all trying to get, but that internal customer we’re trying to create some value with competitiveness in our business. The transparency is important and we’ve done that with motorsports. And Shell’s relationship with Ferrari, we see them around the world."
Istvan Kapitany, Executive VP, Shell Global Retail feels the company’s continued growth is predicated on extending its relationship in motorsports with Team Penske.
“The exciting thing about the Penske relationship with Shell is the strategic nature of it and also that it’s a global opportunity for both of us to grow together,” Istvan Kapitany - Executive VP, Shell Global Retail. “At Shell, we believe in long-term strategic partnerships for any type of activity but particularly motorsports. Roger mentioned Ferarri, Ferrari has been with us for more than 60 years.
“And with Penske, we believe we have found a partner that can be with us for at least 60 years. This is an indication of a longer relationship than typically you would see in motorsports."
Shell will also sponsor Helio Castroneves in the Indianapolis 500. Penske added that he is still working on extending contracts for Castroneves and Brad Keselowski.
“We’re in conversations today,” said Penske, who acknowledged the Shell deal with Logano came along quicker than expected. “We’re hoping we’ll also be announcing a long-term contract with Brad.”
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