Hendrick Motorsports has signed Alex Bowman to a new three-year contract and sponsor Ally Financial to a five-year contract extension, the team announced Wednesday.
Bowman’s contract was up at the end of this season. His new deal carries him through the 2026 season.
The 29-year-old Bowman has seven career Cup victories. He’s made the playoffs each of the past five seasons.
Ally’s contract also was up at the end of the season. Its extension keeps the company as the full-season primary sponsor of the No. 48 car through the 2028 season.
“When Ally makes a commitment to something, they’re all in,” said Rick Hendrick, owner of Hendrick Motorsports, in a statement from the team. “It’s been extremely rewarding to see their passion for the No. 48 team and the unique ways they use the sponsorship to engage with our fans.
“Not only do these initiatives positively influence Ally’s business – they leave a lasting impact on the communities where we race. It’s a special partnership that’s just getting started.
“We’re thrilled to extend with Alex, who is one of NASCAR’s most exciting young stars. In addition to being hugely talented, he has incredible passion and commitment that set him apart. He’s a proven winner, and I don’t know of anyone who has worked harder to reach this level.”
Said Bowman in a statement from the team: “It’s hard to put into words what this opportunity means to me. Having support from a sponsor like Ally, a car owner like Mr. Hendrick and a team like Hendrick Motorsports is everything you could want as a race car driver. I’m pumped about what’s in store for the Ally 48 this season and love the direction we’re heading. We have a lot to accomplish, and it all starts this week in Daytona.”
With Bowman’s signing, Hendrick has locked up all four of his Cup drivers through at least 2025.
William Byron’s contract is through 2025.
The contracts for Kyle Larson and Bowman both go through 2026.
Chase Elliott’s contract goes through the 2027 season.
