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Gainbridge becomes new presenting sponsor for Indy 500

INDIANAPOLIS -- The Indianapolis 500 will have a new presenting sponsor for the next four years.

Race officials announced Thursday that Gainbridge, an online annuity and life insurance company, has agreed to a deal to sponsor IndyCar's biggest race starting this May. Gainbridge replaces PennGrade, whose three-year deal expired in 2018.

The move comes as preparations for this season kick into high gear.

Series officials announced two weeks ago that NTT, a Japanese information technology and communications giant, would become the series' new title sponsor. On Jan. 9, NBC announced it would carry eight of this season's 17 races.