Penrite Racing has announced a stunning 10-year contract with star David Reynolds, locking the driver in through to the end of 2029.

Trumpeted as a ‘history-making deal’ by the squad, it dramatically ends recent speculation about the 34-year-old’s future with the team.

Although always expected to remain with the squad he has helped build into a powerhouse since joining in 2016, delays in finalising terms raised questions over the partnership.

While details of the deal have not been released, a 10-year term will take Reynolds through until he’s 44 – five years older than the current field’s oldest driver James Courtney.

"I’m rapt to re-sign with Erebus Motorsport, and this is something very special to me and the team,” Reynolds said.

“It gives me good security and I can concentrate on my job and doing the best for my team.

“You do long-term deals with long-term people and I’m here for the long haul; I am going to stay for as long as I can.

“I never thought about leaving, it was just figuring out what we were signing, and I have found the best home for me.

“We have gone from strength to strength and grown to be one of the best teams in pit lane, so we’re going to continue to do that and move forward.”

A 10-year deal is the longest contract between a driver and a Supercars team on record, but not completely without precedent.

Craig Lowndes inked a 10-year deal with then Holden Racing Team operator Tom Walkinshaw Racing in 1996 that was intended to take him to Formula 1, but was annulled just five years later.

Pleased to have Reynolds locked in, Erebus CEO Barry Ryan hopes the squad can build on a run of success that included winning the 2017 Supercheap Auto Bathurst 1000.

“Confirming David will remain with us for a long term is great news, and something we are really proud of,” CEO Barry Ryan said.

“Both Erebus and Dave believe in each other; we can feel a sense of security simply based on the length of the term and the commitment shown.

“Dave has brilliant driving skills, but he’s also brought a very calm nature to our team which can be very important in sometimes stressful sports, like motorsport.

“We have achieved a lot together, but at the same time still feel we have so much more to prove.”

Penrite Racing’s line-up for 2020 is now sorted, with Anton De Pasquale’s renewal having been announced in July.

“Dave and Anton have proved to be great teammates and have helped push each other, and our team forward,” added Ryan.

“Having them locked away for a third season together means we can hit the ground running and go to each event with history on our side, which only enhances performance.”

Reynolds and De Pasquale currently sit sixth and 10th in the driver standings as they head into this weekend’s ITM Auckland SuperSprint.