P1racenews AI automatic summary:
Annual budgets skyrocketed for IndyCar teams in 2024. Based on general answers provided during the season by many of the owners or leaders of IndyCar’s 10 existing teams, there was a steep rise in …
In 2024, annual budgets sharply increased for IndyCar teams, with costs rising significantly season-to-season. Five team leaders revealed to RACER that their expenditures neared the breaking point due to various factors, including the shift to hybrid powertrains. Despite common culprits like energy recovery systems, other reasons for budget spikes emerged uniquely for each team. Moving into the new season, owners brace for further increases post the August 31 race in Nashville. Budgets grew by 25% for McLaren, $2 million for Dale Coyne Racing, 22% for AJ Foyt Racing, over 40% for Meyer Shank Racing, and 20-25% for Rahal Letterman Lanigan Racing. Before hybridization, a $6-8 million budget per car was the norm, but in 2024, teams needed $8-10 million minimum per car, with some outliers reaching $13 million. It’s anticipated that championship-contending teams in 2025 will require $11-14 million per car.
