Jimmie Johnson, Lowe's sign contract extensions with Hendrick Motorsports
Hendrick Motorsports' Jimmie Johnson and sponsor Lowe's have signed contract extensions with Hendrick Motorsports. // Bill Anderson, NASCAR Scene
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Hendrick Motorsports’ Jimmie Johnson and his primary sponsor, Lowe's Companies Inc., have each signed contract extensions with the organization, the team announced Friday.
Johnson, who is seeking his fourth consecutive NASCAR Cup title this weekend at Homestead-Miami Speedway, has signed a five-year contract extension with Hendrick Motorsports that will keep him with the organization through 2015.
Lowe's, which has sponsored Johnson for each of this three Cup championships, signed a three-year primary sponsorship agreement for the No. 48 team for the 2011, 2012 and 2013 seasons.
Johnson and Lowe's previously were signed through the 2010 season.
Since his first full-time Cup season in 2002, Johnson has earned a series-leading 47 victories and only twice has finished outside the top two in championship points. Of the 16 NASCAR drivers who have recorded 40 or more wins, just three - Herb Thomas, David Pearson and Richard Petty - have higher career winning percentages.
"Lowe's commitment to the 48 team and Hendrick Motorsports is tremendous and has been a source of pride for me personally," said Johnson, 34, who never has had a primary sponsor other than Lowe's in Cup competition. "We've built a championship team together, and I'm proud the 48 will carry the Lowe's colors for many more years."
The group began their working relationship in 2001 when Johnson was selected to drive the No. 48 entry.
"Jimmie Johnson and Hendrick Motorsports are a key part of our marketing efforts and outreach to our more than 225,000 employees," said Robert A. Niblock, Lowe's chairman and chief executive officer. "We believe this is the best combination in racing, and we're proud to have Jimmie carry the Lowe's name in NASCAR."
Through 35 of 36 races this season, the Chad Knaus-led team has seven wins. Of their 23 top-10 finishes, 15 are top-fives. Johnson carries a 108-point lead over teammate Mark Martin entering Sunday's season-ending race.
"Lowe's took a chance on us back in 2001, and it's not a stretch to say this whole thing would never have been possible without them," said Rick Hendrick, who co-owns the No. 48 team with driver Jeff Gordon. "When you have a partner put that much faith in you, it's incredibly rewarding to see them be successful. They're a company with values and practices that we admire and learn from in our own business, and we feel very fortunate to continue this amazing ride together.
"Jimmie is charting new territory in our sport, and that's due to a combination of natural talent and unsurpassed work ethic. How he's committed himself is just incredible, and it shows in everything that he does - not just on the race track. There's no question that he's one of the great champions in all of sports, and he's not done yet."
Financial terms of the contracts were not disclosed.
