Indy 500 signs first ever presenting sponsor (Update)

UPDATE This rumor is upgraded to 'fact' with this announcement.

01/21/16 The 100th Indianapolis 500 will have a first in Indianapolis Motor Speedway history – a presenting sponsor.

RACER rumors that Hulman & Company President Mark Miles will announce Thursday afternoon that D.A. Lubricants’ PennGrade1 has signed a multi-year deal to become the first presenting sponsor ever in the storied history of the world’s largest and most famous racetrack.