"With the New Zealand Superstocks Championship at Oceanview in January 2020 and the North Island Superstocks the following season, it is an exciting time for the club."
The speedway will be known as Fast Lane Spares Oceanview Family Speedway and James said the new relationship would help to make the facility better for competitors and spectators.
"We have really appreciated the support we've had from [former sponsor] Supercheap Auto," he said.
"This new partnership is for five years, and both the club and Fast Lane Spares are looking forward to building a really strong strategic relationship."
Fast Lane Spares sells a range of race car parts, including Hoosier tyres, seats and safety equipment.
Other meetings of note include the Charlie Berntsen Trophy Stockcars, the Elite
Mechanical Stockcar Cup and the West Coast Superstocks.
The season will conclude with the Superstock Memorial races, a demolition derby and fireworks on Saturday, April 6 2019.
Fast Lane Spares' Sloman is a former New Zealand Saloon Car champion and was stoked to be supporting his former club.
"Wanganui has always been a club that punches above its weight," he said.
"The track surface here has been as good as anywhere in the country in the past few seasons and that's what keeps racers coming back."