Nascar’s Stewart-Haas Racing (SHR) Sprint Cup team has announced a sponsorship agreement with Florida-based restaurant chain Outback Steakhouse.

The deal will see the chain serve as the primary sponsor of SHR’s number 39 entry driven by Ryan Newman for two Nascar Sprint Cup Series races in 2012, and an associate sponsor of Newman’s car for all remaining races.

While financial details of the deal were not disclosed, a sponsorship package of this stature is likely to be worth around US$2 million.

The sponsorship was officially launched at last weekend’s Veteran’s Day race at the Phoenix International Raceway.

"Given their leadership and performance on and off the track, we are pleased to partner with the likes of SHR and Ryan Newman," said Jeff Smith, president of Outback.

"Joining forces with the number 39 US Army Chevrolet on Veterans Day is extra special for Outback given our longstanding commitment to supporting US troops."

Tony Stewart, co-owner of SHR, added: "Outback Steakhouse and SHR share the same passion and commitment to excellence that drives us in our everyday operations.”

“Outback's reputation for quality and great service aligns nicely with our approach to being a leading performer on the track, and we're excited for all the things we can accomplish together."

Source: SportsPro