25 charters have been issued to Indycar teams effective immediately
Indycar has launched a charter system. It’s similar to NASCAR’s charter system which introduced a ‘franchise’ type system to the world of auto racing.
10 Indycar teams will take on 25 total charters. Charter teams are guaranteed a starting position in every race with the exception of the famed Indy 500.
In order to qualify for the Leaders Circle program, the team must own a charter. The system awards the top 22 in points with championship funds.
The charter agreement will continue through the 2031 season.
“This is an important development that demonstrates an aligned and optimistic vision for the future of our sport,” Penske Entertainment Corp. President and CEO Mark Miles said.
Miles added, “I want to extend my sincere appreciation to our team owners for their collaboration and ideation throughout this process. Ultimately, we’re pleased to have a system in place that provides greater value for our ownership and the entries they field.”
NASCAR teams sign new charter agreement; 23XI Racing excluded
Indycar Charters
AJ Foyt Racing
2
Andretti Global
3
Arrow McLaren
3
Chip Ganassi Racing
3
Dale Coyne Racing
2
Ed Carpenter Racing
2
Juncos Hollinger Racing
2
Meter Shank Racing
2
Rahal Letterman Lanigan Racing
3
Team Penske
3
NASCAR teams looking for more money; Series issues statement
Team Owners comment
“I appreciate the efforts made by the INDYCAR and Penske leadership groups, as well as all the owners, to get this charter system started. It is incredibly challenging to get a large group of owners to agree on something, and certainly there was some give and take, but, in the end, I believe this is a path that is beneficial for all of the owners and for INDYCAR, while also maintaining the availability for open competition.” – Larry Foyt, A.J. Foyt Enterprises
“When you look back in the modern era of INDYCAR racing, you will look at a few important moments, the first being the unification of the sport, the next being Roger Penske buying the INDYCAR SERIES and IMS, and I truly believe the third will be the charter system.” – Chip Ganassi, Chip Ganassi Racing
“We are very pleased to begin this new era. The process has been thorough but, in the end, very exciting. This charter system will clearly strengthen our teams as we continue to grow the sport. I would like to thank Roger (Penske) and his entire team at INDYCAR. ECR will have announcements soon, and I don’t know that they would be possible without the help of a program like this. With this groundbreaking development, the new TV deal with FOX and the momentum that had been building, INDYCAR’s future is very bright.” – Ed Carpenter, Ed Carpenter Racing
“The charter agreement, to me, is the single-most important piece for the future of the series. I’m grateful that we all came together on this and thank the Roger Penske group for working with the team owners for getting it done.” – Michael Shank, Meyer Shank Racing
Denny Hamlin says it costs $18M to run a NASCAR team
