Penske is considering a “team-friendly plan” where it would “shoulder” new-car costs, for IndyCar teams that are interested, and “spread the reimbursement over multiple years to alleviate the financial burden.” If the idea “becomes a reality, team owners would enter into loan and repayment agreements” with Penske. IndyCar teams are “bracing for a wave of new-car costs whenever Penske Entertainment and its chassis partners at Dallara introduce the successor for today’s DW12 chassis.” Penske’s idea of shouldering the costs is “still at an early stage, and some of the finer details have yet to be defined.” With teams able to acquire bank loans of their own, there’s “an assumption the Penske plan would come with a more favorable interest rate.” Penske Entertainment CEO Mark Miles said that “if it were to happen, it would involve direct dealings with Penske rather than engaging a bank to arrange loans for teams on behalf of the series” (RACER, 4/10).
Penske considering financing for new IndyCar costs
