NASCAR’s Denny Hamlin has confirmed that Joe Gibbs Racing has secured an “anchor sponsor” for the No. 11 team. On Monday, Hamlin teased the news during his Actions Detrimental podcast and confirmed that JGR would make an official announcement later that day.
An anchor sponsor is the primary corporate partner, usually the highest-tier sponsor for a given team. Their logo and branding appear on the car for most of the season, and they get top billing in various activations.
Potential $168 Billion Company Sponsoring Denny Hamlin’s Team?
While hinting at the sponsorship on the podcast, Hamlin said, “Exciting stuff for sure that we’re going to be able to announce (in the evening), and well, I’m excited about it. I don’t even know what I’m allowed to say. I’m surprised you guys had me even tease it today. Be on the lookout, my social, and JGR’s social. I think you’re going to start seeing some consistency on our car, a lot this year now, coming up. Tune in. See what happens.”
https://t.co/3WOvKVGcpi pic.twitter.com/wEMfsmX1Uc
— DennyDeliversYT 📦 (@DennyDelivers2) March 17, 2025
As fans eagerly await more details on the sponsorship deal, industry insiders suggest that Progressive Insurance has signed on to sponsor Hamlin’s No. 11 car. This deal could also help solidify Hamlin’s future at JGR, especially after rumors surfaced about his potential move to 23XI Racing, a team co-owned by NBA legend Michael Jordan.
JGR, one of NASCAR’s most iconic teams, has long been backed by top-tier sponsors, including FedEx, Sport Clips, and Interstate Batteries. On Monday, Adam Stern of the Sports Business Journal reported that a new sponsor for Hamlin was on the horizon. Progressive Insurance was in talks to fill the slot left by FedEx when they exited at the end of the previous season.
Progressive, based in Ohio, has slowly entered the NASCAR scene through advertising. Reports indicate the company spent approximately $1.85 million on race-related TV ads in 2024, ranking fourth among NASCAR sponsors. The insurance giant has mostly been involved in the sport through pit-road branding during The CW’s Xfinity Series broadcasts and a brief partnership with RFK Racing’s Ryan Newman in 2020.
The official announcement is expected sometime soon through Joe Gibbs Racing and Hamlin’s social media channels. Fans and industry professionals are eagerly awaiting what could be a game-changing partnership for NASCAR sponsorships.