DETROIT - Nippon Telegraph and Telephone Corp. said Tuesday it has signed a multiyear agreement to become the IndyCar Series title sponsor.
The telecom giant made the announcement at the annual North American International Auto Show in Detroit. It did not disclose the value of the contract.
NTT replaces Verizon Communications Inc. as the entitlement sponsor for IndyCar, a position the U.S. telecom firm has enjoyed for the past five years.
The 17-race IndyCar Series, the premier level of open-wheel racing in North America, will be renamed the NTT IndyCar Series as part of the deal.
“NTT is proud to be associated with IndyCar and accelerate the future of smart racing,” NTT President and Chief Executive Officer Jun Sawada said in the announcement.