Getty Images for NASCAR

Getty Images for NASCAR (September 2, 2012)

Martin Truex and primary sponsor NAPA have agreed to a three-year contract extension with Michael Waltrip Racing.

The team has made dramatic improvement this season, going into Sunday's race at Atlanta Motor Speedway fifth in the Sprint Cup standings and looking to give Waltrip a spot in the Chase for the championship for the first time as a car owner. The team's other full-time driver, Clint Bowyer, is sixth in the points and also positioned to lock up a Chase berth.

NAPA has a long history sponsoring NASCAR and decided to stay on board in a major role, rather than a part-time deal that would've required Waltrip to seek additional backing. The announcement was good news for NASCAR, which has struggled to land full-season sponsorships since the economic downturn.