Lowe's has extended its longtime relationship with Hendrick Motorsports by signing a two-year agreement that will continue its full-season primary sponsorship of Jimmie Johnson's No. 48 NASCAR Sprint Cup team in '16 and '17. Meanwhile, HMS and Johnson have agreed to a contract extension through '17 (Lowe's). The AP's Jenna Fryer notes part of the negotiations included Johnson "receiving a stake in Hendrick's automotive arm." HMS "has done similar deals" with drivers Terry Labonte, Jeff Gordon and Dale Earnhardt Jr., "all coming in as partners with Hendrick on dealerships." Johnson "currently has his name on one dealership, Jimmie Johnson's Kearny Mesa Chevrolet in San Diego, but will increase his portfolio as part of the new extension." This newest contract "is far shorter than previous ones signed by Johnson, who said his preference is long-term deals." He indicated the shorter terms on this extension "are tied more to getting a deal that all parties could agree upon than it did his desire to reassess his future in the next two seasons" (AP, 9/14).
