NASCAR Cup Series team RFK Racing’s longstanding partnership with Castrol is set to continue, despite the oil company’s recent majority sale by bp for $10.01 billion.
It was announced on December 24 that bp had sold 65 percent of Castrol to New York-based investment firm, Stonepeak, with the former retaining the remaining 35 percent of its shares.
While the deal won’t be finalized for around another year, once completed, the funds will help bp reduce its net debt, which it is aiming to drop to between $14 and $18 billion by the end of 2027, as per a press release. This comes with bp’s net debt at the end of the third quarter in 2025 being recorded at $26.1 billion.
“Today’s announcement is a very good outcome for all stakeholders,” bp’s interim CEO Carol Howle said. “We concluded a thorough strategic review of Castrol, that generated extensive interest and resulted in the sale of a majority interest to Stonepeak.
“And with this, we have now completed or announced over half of our targeted $20bn divestment programme, with proceeds to significantly strengthen bp’s balance sheet.
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“The sale marks an important milestone in the ongoing delivery of our reset strategy. We are reducing complexity, focusing the downstream on our leading integrated businesses, and accelerating delivery of our plan. And we are doing so with increasing intensity – with a continued focus on growing cash flow and returns, and delivering value for our shareholders.”
Despite this eventual shift in Castrol’s ownership structure, the brand will continue to serve as one of RFK’s sponsors during the 2026 Cup Series season, as per Adam Stern.
Castrol and RFK’s partnership dates back to 2019, and while the team has not publicly commented on its supposedly ongoing relationship with the brand since the takeover was announced, it appears that the two were already in line to continue working together regardless.
Last year, the team “announced that its longstanding relationship with iconic brand Castrol will continue into the 2025 NASCAR season and beyond.”
In a statement, team president Steve Newmark said, “For years now, Castrol has been an integral part of our success both on and off the track.
“From product superiority to collaborations around sustainability and content with the family of Castrol drivers and Ford Motor Company, Castrol has ensured we operate at peak performance and powered us through several years of success.”
RFK, which debuted way back in 1988 as Roush Racing, has two Cup Series titles and 143 race wins to its name thus far. However, despite the backing of a firm the size of Castrol, RFK failed to reach victory lane in 2025, with Chris Buescher finishing a team-best 17th in the driver standings, thanks to his five top-five finishes and 11 top 10s.
While this winless run is far from ideal, it faces a more fundamental issue entering 2026, which is the health of co-owner and driver of the No. 6, Brad Keselowski. The 41-year-old former Cup Series champion recently suffered a broken leg while on a skiing trip and has since had to undergo surgery.
Still bedbound, Keselowski has stated that his goal is to be back for the season-opening Daytona 500 on February 15.
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