IndyCar restarts charter talks
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 encouraging manner.
At present, and in stark contrast to NASCAR and Formula 1, IndyCar team owners have no commodity to own or sell with their individual entries since the series does not have a formal financial structure in place for entrants to gain access to or take part in its series.
Company CEO Mark Miles expressed high hopes for the newest charter structure to reach the finish line, which is aimed for presentation to its teams at some point prior to the Indianapolis 500 in May.
“We did talk quite a bit about and there’s been a lot of phone calls already since yesterday, with team owners about our commitment to developing a charter system,” Miles said. “The way we explained it to them is that we’ve put out a couple of different concepts for charters in previous team owner meetings, and frankly, not been very close to consensus on what it might look like.
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 encouraging manner.
At present, and in stark contrast to NASCAR and Formula 1, IndyCar team owners have no commodity to own or sell with their individual entries since the series does not have a formal financial structure in place for entrants to gain access to or take part in its series.
Company CEO Mark Miles expressed high hopes for the newest charter structure to reach the finish line, which is aimed for presentation to its teams at some point prior to the Indianapolis 500 in May.
“We did talk quite a bit about and there’s been a lot of phone calls already since yesterday, with team owners about our commitment to developing a charter system,” Miles said. “The way we explained it to them is that we’ve put out a couple of different concepts for charters in previous team owner meetings, and frankly, not been very close to consensus on what it might look like.
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