Shell is to sponsor the IndyCar Grand Prix of Houston when open-wheel racing returns to the city at Reliant Park in October 2013.

Described as a 'multi-year' deal, the title sponsorship will see the race named the Shell and Penzoil Grand Prix of Houston. Financial terms were not released but according to industry insiders, title sponsorship of an IZOD IndyCar Series race is typically worth between US$300,000 and US$500,000 a year. Shell's commitment to a new event on the calendar is likely to be at the higher end of this scale.Lisa Davis, the president of Shell Commercial Fuels and Lubricants Americas, said: "Shell has built a long, storied history in motorsports across the world. Becoming the title sponsor for the IZOD IndyCar Series race lets us bring the Grand Prix home to enjoy with our customers, employees, and neighbours. Shell and Pennzoil look forward to supporting our city, this sport and a spectacular event with great racing on the streets of Houston, Texas."The inaugural Shell and Pennzoil Grand Prix of Houston will take place from 4th to 6th October 2013. Houston previously held Champ Car series races in 2006 to 2007.

Source: SportsPro