Fifth Third Bancorp has agreed a multi-year sponsorship deal with the Roush Fenway Racing Nascar team.

The partnership will begin this season with the bank taking primary sponsorship rights to Matt Kenseth's car at four races, starting with this weekend's All-Star race in Charlotte.The deal is likely to be worth around US$1.5 million this season, although detailed terms were not released.•Fastenal signs patriotic deal with Roush Fenway•Best Buy unveils Nascar sponsorship plans for 2012Greg Carmichael, executive vice president and chief operating officer of Fifth Third Bancorp, said: “Our organisations share many common values including a focus on teamwork and a desire to challenge the status quo to be the best at what we do. "We are looking forward to working with the Roush Fenway Racing organisation, and Matt Kenseth, to help drive our business and build the Fifth Third Bank brand.”Team owner Jack Roush added: "They are a well respected, innovative financial services organization with a long and rich history that shares our company’s passion for excellence and commitment to winning."