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Axalta extends sponsorship agreement with Hendrick to 2027

NASCAR Cup Series 62nd Annual Daytona 500 - Practice

DAYTONA BEACH, FLORIDA - FEBRUARY 08: William Byron, driver of the #24 Axalta ‘Color of the Year’ Chevrolet, practices for the NASCAR Cup Series 62nd Annual Daytona 500 at Daytona International Speedway on February 08, 2020 in Daytona Beach, Florida. (Photo by Jared C. Tilton/Getty Images)

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Axalta has agreed to a five-year extension that will take its sponsorship through the 2027 season, Hendrick Motorsports announced Monday.

Axalta’s contract was to go through the 2022 season. Axalta will sponsor William Byron in 22 races this season and teammate Alex Bowman in three races.

MORE: How William Byron went from Legend to NASCAR

As part of the new agreement, Axalta will be the primary sponsor of the No. 24 team for 14 Cup races each year beginning in 2021.

“It’s difficult to put into words what Axalta has meant to our company,” said Rick Hendrick, owner of Hendrick Motorsports, in a statement from the team. “They took a chance on us nearly three decades ago, and it’s been an incredible relationship ever since.

“Axalta and the No. 24 team are synonymous, so it’s fitting to see that connection solidified for the next eight seasons. William is a tremendous talent who is going to do exciting things behind the wheel for a long, long time. We are truly fortunate to continue this great partnership far into the future.”