PNC Becomes ‘Official Bank of Nascar’

DAYTONA BEACH, Fla. – PNC Bank signed a five-year agreement Friday with Nascar that introduces PNC as the “official bank of Nascar” and “official wealth management partner of Nascar.”

The agreement is PNC’s first with a sports league and provides PNC promotional rights around retail, corporate and private banking across the country and U.S. military bases abroad.

PNC will be present at key Nascar races throughout each season and offer its services to the industry, providing insights to drivers, teams, tracks and sponsors. The agreement takes effect immediately.

“PNC Bank has a trusted reputation and national reach and we couldn’t be more pleased to welcome them to our family of partners,” said Steve Phelps, Nascar executive vice president and chief global marketing, media and sales officer. “I’m confident we’ll deliver unique opportunities for PNC to connect with our industry and diverse fan base.”

The announcement signals another step in an effort to establish a stronger national PNC brand, even in markets without a retail branch presence, the company said.

“As we continue to focus on establishing a more powerful national presence, PNC’s new alliance with NASCAR will open more avenues to build on our brand and business coast-to-coast,” said William S. Demchak, PNC chairman, president and CEO.

Copyright 2022 The Business Journal, Youngstown, Ohio.