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Toyota announces 11-year, naming rights deal at revamped Daytona International Speedway

Toyota Motor Corp. is the first company to land naming rights at the revamped Daytona International Speedway.

The Japanese automaker and International Speedway Corp., which owns the famous Florida track, announced the deal Thursday at the Chicago Auto Show.

The 11-year agreement, which begins in 2015, will provide Toyota with naming rights to one of the five massive fan entrances at the redesigned speedway. Toyota will have more than 20,000 square feet with which to work with.

The deal makes Toyota an official partner of the Daytona 500 and gives the company pace-car privileges. The means a foreign manufacturer will lead the field under caution at "The Great American Race."

Daytona is undergoing a $400 million renovation.