$65M-worth Denny Hamlin drops a truth bomb on securing new sponsor after FedEx’s departure dealt JGR a big ‘loss of revenue’

Ahead of the Homestead-Miami race this weekend, veteran driver Denny Hamlin of Joe Gibbs Racing was featured in the pre-race media session, sharing his thoughts on securing a new sponsor. On Tuesday, March 19, Hamlin inked a deal with Progressive Insurance to sponsor his ride in the 2025 season.

The #11 Toyota Camry XSE driver had one of the longest-running sponsor partnerships in NASCAR history. FedEx sponsored the JGR driver since his debut in the series in 2005. After the split with FedEx, the team found a new sponsor for Hamlin in Progressive Insurance.

During the media day held at Homestead-Miami Speedway on March 22, 2025, a reporter asked the $65 million worth driver, Denny Hamlin (according to Celebrity Net Worth), about what it means for fans and the team to have the insurance company as his primary sponsor. To which Hamlin replied:

"It doesn't take pressure off me necessarily, more Joe Gibbs Racing when you have a loss of revenue there, certainly, can make things tighter on their side."

But really, it's good for them to have an anchor partner and certainly for my fans' sake, they'll be able to identify me week-to-week and that's something that's very important. So filling out those races is going to be a big deal for myself and the team this year."," he added (via Speedwaydigest.com).

Progressive Insurance will sponsor 18 races this season, including The All-Star race at North Wilkesboro, the Chicago Street Course race, the Brickyard 400 at Indianapolis, and the Championship Four race at Phoenix Raceway on November 2, 2025.

Additionally, the sponsor previously backed Roush Fenway Racing driver Ryan Newman's #6 Ford Mustang Dark Horse in the 2020 Cup Series season. In 2025, the sponsor returns to the series with Denny Hamlin as their new driver.

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“I bleed purple”: When Denny Hamlin opened up about his relationship with FedEx

On November 10, 2024, the oldest driver on the grid ended his two-decade-long sponsorship with FedEx, a multi-billion-dollar shipping company. Following the split, Hamlin shared an emotional video on his social media encapsulating his time with the sponsor.

After supporting the #11 Toyota Camry XSE driver for 20 years, the shipping company gradually reduced its funding, sponsoring only 13 point-paying races last season.

The partnership left a remarkable legacy for the fans. Reflecting on this, Denny Hamlin stated (via JaySki.com):

“It’s certainly emotional because of the relationship that I’ve had with them for 19 years. There’s not many out there anymore that are around that long, especially with all the opportunities to sponsor different sports leagues and arenas."

"It’s really hard to put into words because I got to know so many of the employees, so many of the executives over 20 years. I bleed purple. Every time that a FedEx truck goes by, my kids are yelling, ‘Daddy.’ That’s some of that brand awareness that I hear from fans, as well. Whether they are going to be on my racecar in the future or not, doesn’t matter, I’m still going to be a part of the purple family," he added.

Denny Hamlin enjoyed a successful tenure with FedEx, achieving nearly all of his wins alongside the shipping company. The 44-year-old driver won 47 of his 54 Cup Series races during his sponsorship with FedEx.