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With its second attempt to form a charter system having failed late in 2023, Penske Entertainment says a third engagement with its IndyCar entrants, which took place earlier this week, ended in an …
Penske Entertainment’s recent third engagement with its IndyCar entrants concluded positively, following the failure of its second attempt to establish a charter system in 2023. Unlike NASCAR and Formula 1, IndyCar team owners currently lack a commodity to own or sell with their entries due to the absence of a formal financial structure for entrants. The company’s CEO, Mark Miles, expressed optimism for the new charter structure, set to be presented to teams before the Indianapolis 500 in May. Discussions have included various concepts for charters, aiming for consensus among team owners and potential inclusion based on previous results and expected full-time participation. While initially considering guaranteed starting spots at the Indy 500 for chartered entries, Penske Entertainment has adjusted its approach based on feedback, with ongoing discussions to address key points such as protected positions on the grid.
