Toyota Motor Corp has become the first company to land a naming rights deal at the revamped Daytona International Speedway in the US.
The Japanese automaker and International Speedway Corp, which owns the famous Florida track, announced the sponsorship deal at the Chicago Auto Show on Thursday.
The 11-year agreement, which begins in 2015, will provide Toyota with naming rights to one of the five massive fan entrances at the redesigned speedway.
Toyota will have more than 1800 square metres with which to work, giving the company plenty of space to showcase its automotive line-up and promote affiliated race teams.
"This is a unique opportunity for Toyota to elevate our brand in the motorsports community," said Bob Carter, senior vice-president of automotive operations of Toyota Motor Sales in the US.
The deal also makes Toyota an official partner of the Daytona 500 and gives the company pace-car privileges. It means a foreign manufacturer will lead the field under caution at "The Great American Race".
"Toyota has been a great partner for many years and we will continue to work together to enhance the fan experience at many of our facilities across the country," ISC chief executive Lesa France Kennedy said.
Daytona is undergoing a $400 million renovation, dubbed "Daytona Rising".
Scheduled to be finished in 2016, the project will overhaul the front-stretch grandstands with new tiered concourses, wider seats and additional rest rooms and concessions. The track will have 11 football field-sized "neighbourhoods" that feature video screens as well as retail and dining areas.
