Grove Racing extends Penrite Oil naming rights deal
Grove Racing extends naming rights deal with Penrite Oil
Grove Racing will run under the Penrite Racing banner for two more seasons
Penrite Racing will be represented by Matt Payne and Richie Stanaway in 2024
Grove Racing will run under the Penrite Racing banner for two more seasons after inking a naming eights extension with Penrite Oil.
Penrite Racing recently returned to the winners’ circle courtesy of David Reynolds at last month’s Boost Mobile Gold Coast 500.
The new extension was announced, ahead of this weekend’s season-ending VAILO Adelaide 500, in front of fans at Penrite Racing's South Australian VIP night.
In 2024, Penrite Oil will still be represented by the Grove squad, along with drivers Matt Payne and 2023 Bathurst 1000 winner Richie Stanaway.
Reynolds is moving on to Team 18 next season. Penrite Oil initially followed Reynolds to Braeside with Reynolds after driver and sponsor departed Erebus Motorsport at the end of 2020.
The Groves and Penrite Oil have amassed 12 podiums and a victory since teaming up in 2021 under the ownership of the Grove family.
Penrite Oil Chief Executive Officer, Toby Dymond, said: “We’re really pleased to continue our relationship with Grove Racing.
"It’s exciting to see the building blocks in place with David Cauchi and the entire team, and the building renovations are complete after our first win together at the Gold Coast.
“It was only fitting that Reynolds, who has been a fantastic brand ambassador for us across eight years, was behind the wheel for the win and we wish him continued success at his new team. But first we want one more in Adelaide to send him off in style.
"For 2024 onwards we wanted naming rights on two cars and a multi-year term to demonstrate our intentions to be here for the long term in Supercars. We love our shared vision for victory with the Grove family and look forward to achieving great results together."
Team owner Stephen Grove added: “I’m excited to bring together two proudly Australian companies as we pursue excellence in the most competitive touring car series in the world.
"I’m looking forward to further building our relationship and achieving success both on and off the track.”
Penrite Racing Team Principal David Cauchi said: “It’s fantastic to be renewing our partnership with Penrite Oil. We are proud to represent such an iconic Australian brand who have a rich history in Australian motorsport.
"We look forward to this next chapter in our partnership where we can build on our strong foundations developed over the past two years."
Supercars will hit the track at the VAILO Adelaide 500 for the first time on Thursday. Tickets are on sale now.
