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The NTT IndyCar Series’ top 22 entries will see a welcome increase in the value of each Leaders Circle contract paid by Penske Entertainment. The socialized financial distribution program, which de…
The Leaders Circle contracts in the NTT IndyCar Series will receive a welcome increase in value from Penske Entertainment. The program distributes the majority of prize money evenly among the top 22 teams from the previous season. For 2023, Penske Entertainment had initially reduced the payout per contract by $150,000, causing dissatisfaction among team owners. However, IndyCar and Penske Entertainment CEO Mark Miles has assured that funding will be restored and the new contracts will be in the seven-figure range. This increase is crucial for independent team owners who face the costs of upgrading their chassis to meet IndyCar’s 2024 specifications. With the mid-season shift to hybrid engines, the larger payouts will help offset these expenses for the 22 teams. The switch to hybrid technology is expected to increase operating budgets, potentially reaching $7 million per car for the upcoming season.
