Rights holders BSI Speedway have agreed the multi-year sponsorship deal with Monster Energy.

The energy drink brand will serve as presenting sponsor of the SGP series and title sponsor of the SWC which will now be known as the FIM Monster Energy Speedway World Cup and a new logo featuring the Monster Energy brand has been designed for the SWC tournament, which takes place in July.

Monster Energy has already made a huge impact on the shale sport after supporting Californian Greg Hancock to his second individual world title last year and they also sponsor 2010 gold medallist Tomasz Gollob, Australian speedway champion Chris Holder and Swedish legend Antonio Lindback.

The company has built its reputation by sponsoring some of motorsport's all time greats from Michael Schumacher to Valentino Rossi, and BSI Speedway managing director Paul Bellamy is delighted they will play a huge role in the SGP series and SWC.

He said: "It's fantastic for the fans and the series that Monster Energy are on board. They have exciting plans to engage with our fanbase as well as attract a new generation of fans to the world championships.

"The Monster Energy brand is growing spectacularly. They have an outstanding online presence and over 14 million followers on Facebook.

"We look forward to working in partnership with Monster Energy to raise their profile even further and take the FIM Speedway Grand Prix series and FIM Monster Energy Speedway World Cup to greater heights."

Jamal Benmiloud, marketing director, Monster Energy, said: "We love this sport, from the athletes to the dedicated fans, so it's great to be able to support both the SGP and SWC in their mission to grow this great sport.

"We're delighted to play our part in presenting the FIM Speedway Grand Prix series and FIM Monster Energy Speedway World Cup. We can't wait to catch up with speedway fans around the world this season. We're looking forward to an exciting season ahead."

Rob Armstrong, IMG senior vice president global head of motorsports, added: "It's a credit to the SGP series and the BSI Speedway team that we have attracted a brand like Monster Energy.

"There are exciting times ahead for the world championships with the Grand Prix series expanding into the Southern Hemisphere this year. I'm delighted to have Monster Energy on board and they have a huge part to play as we continue to develop truly great world championship events."