P1racenews AI automatic summary:
Penske Entertainment has issued its first formal charter document for NTT IndyCar Series entrants who qualified for participation in the program. Having asked for a printed version of the charter t…
Penske Entertainment has released its inaugural formal charter document for NTT IndyCar Series participants who qualified for the program. The comprehensive 40-page charter plan was delivered by Penske Entertainment to IndyCar’s 10 existing full-time entrants for review and feedback by the end of August. New teams like PREMA Racing and part-time entrants such as Dreyer & Reinbold Racing are excluded from receiving charters on their first issuance, as invitations are determined by the 2023 Entrants’ championship results.
The charter program, developed since Roger Penske’s acquisition of the series in 2020, follows a 3/22/25/27 structure. Each of the 10 full-time teams from 2023 can obtain a maximum of three charters, with a total of 25 charters to be awarded. The Leaders Circle prize money contracts will be maintained for 22 cars, while the charter entitles guaranteed grid spots at all races except the Indy 500.
However, limitations apply. For instance, a two-car team can only receive two charters if both cars placed in the top 25 of last year’s standings. Conversely, a three-car team with all cars within the top 25 would earn three charters. Chip Ganassi Racing poses a unique scenario due to its outliers and participation levels affecting charter eligibility criteria. Ganassi’s expanded presence to five cars in 2024 impacts charter allotment per team based on previous standings and the Leaders Circle program.
