Though Izod vice president Mike Kelly wouldn't reveal financial terms, the company's commitment to six years-plus with renewal options suggests it is determined to lift the profile for the open-wheel circuit, which had lacked a title sponsor since 2002. The apparel maker unveiled a Times Square billboard announcing the deal, and a press kit included a handout highlighting a line of vintage Indy-themed T-shirts to be sold in department stores, including partner Macy's.

Izod is already sponsoring driver Ryan Hunter-Reay and plans to bump up its exposure through the circuit's partnerships with ESPN/ABC and Versus.

"If you see what we're doing across all of our brands, we have not pulled back in our marketing spend even though the (economic) environment became difficult," Kelly said during a news conference at Indianapolis Motor Speedway. "Certainly, all the drivers, as long as there's opportunity and availability, we're looking to market the cars and the stars."

Brian Barnhart, IndyCar Series president, said he was looking forward to seeing the impact of having a sponsor without ties to tires fuel, oil or engine parts.

"To be honest with you, it's probably the first legitimate title sponsor we've ever had, so that adds to the excitement," Barnhart said. "Their ability to take us into (the) mainstream and into the pop culture … that's the exciting aspect of it. The length of the (contract) term, that adds credibility."

The deal includes participation in the series' Team Enhancement/Allocation Matrix (TEAM) which guarantees funding for teams committed to a full Izod IndyCar Series schedule.

Enlarge By Ron Hoskins, Getty Images IndyCar Series President Brian Barnhart, left, Indianapolis Motor Speedway President Jeffery Belskus, center, and Izod vice president Mike Kelly announce their partnership in Indianapolis.