Insurance firm Nationwide has signed an agreement to sponsor Dale Earnhardt Jr.'s Hendrick Racing car at 12 races in 2015, and 13 events in each of the 2016 and 2017 seasons.

It will be an associate level sponsor at every race over those next three seasons.

Early estimates suggest the deal could be worth more than US$30 million in total.

Nationwide is currently the title sponsor of Nascar's second-tier championship, but the company announced in September that it would not renew its deal beyond the end of 2014, after a seven-year stint.

At the time, a Nascar statement said: 'Nationwide Insurance will look to build a more consistent presence in the Nascar Sprint Cup Series enabling its message to reach an even larger Nascar audience'.

Earnhardt Jr. has long since been Nascar's most popular driver. Although he has never won the Sprint Cup, he did win the Daytona 500, Nascar's most prestigious race, for a second time in February. He is, however, a two-time Nationwide Series champion.

“Nationwide is always top of mind when you think of companies that truly leverage the power of Nascar,” said Rick Hendrick, owner of Hendrick Motorsports.

“We’re proud to welcome them to the No. 88 team and grow their relationship with Dale Jr. Working together, we’ll build another programme that moves the needle for their business. The opportunities are endless.”

Nascar has yet to announced Nationwide's replacement as the title sponsor of its secondary championship.

source: sportspro