The IndyCar Series has secured a new title sponsor, its first since Northern Light left in 2002, that is reported to be worth some US$10 million per year.

The partnership, which will be officially announced on Thursday at Indianapolis Motor Speedway, is thought to run for the next five years, though some reports have claimed it will be for an initial three. 'It's not known whether the series will be called the Izod IndyCar series or the IndyCar series presented by Izod and the length of the contract is believed to be three or five years,'