Online banking company MoneyLion is increasing their sponsorship profile around NASCAR. The company announced late Thursday that they will enter into full partnership with Team Penske for select races during the 2019 NASCAR season.
Financial terms were not disclosed.
MoneyLion entered into a limited sponsorship with Team Penske in September of this year serving as the primary sponsor of Team Penske’s NASCAR XFINITY Series No. 22 Ford Mustang, driven by Austin Cindric, at Las Vegas, Richmond and Charlotte. That primary sponsorship will also be in place on the car at the Homestead race in Florida where the season wraps up.
For 2019, the sponsorship deal will see MoneyLion expand into the Monster Energy Cup Series. They will be the primary sponsor for the No. 22 Ford Mustang, driven by Joey Logano, at the spring Talladega race and Watkins Glen race and the No. 12 Ford Mustang, driven by Ryan Blaney at the spring Phoenix race in March. In addition to the Monster Energy Cup Series drivers, they’ll be the primary sponsor of the No. 22 NASCAR XFINITY Series Ford Mustang, driven by Austin Cindric, for 18 races, starting with Daytona in February of 2019 through the season-finale race at Homestead-Miami Speedway in November of next year.
“MoneyLion joined our team in September and we have already seen substantial benefits from our partnership. We are excited about this next evolution of Team Penske’s relationship with MoneyLion for 2019 and beyond,” said Roger Penske. “We have seen how MoneyLion is committed to improving the lives of its members through its financial services and we also appreciate the company’s commitment to help grow our team, and their brand as well, through our NASCAR program.”
MoneyLion is activating the increased sponsorship exposure in a variety of ways including giving away over 1,500 NASCAR tickets in 2019, as well as 5% cashback on NASCAR tickets, at-track purchases and on all purchases on NASCAR.com for customers of the banking company. MoneyLion has said that the 5% cashback will be deposited directly into customers’ MoneyLion investment account.
The deal also extends to Team Penske’s diversified businesses by offering employees the financial wellness program, MoneyLion Bonus program.
“Team Penske has shown uncompromising support of our efforts thus far, and we only aim to reciprocate that to Team Penske and NASCAR fans everywhere,” said Dee Choubey, CEO and co-founder of MoneyLion. “We’re thrilled to show our commitment to the sport and its fans in new and exciting ways that fans can truly experience. We’re so proud to support Team Penske’s team’s efforts, and look forward to growing our support of the broader team next season with Austin, Joey, Ryan and their crews.”
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