Roger Penske could turn loan shark for IndyCar teams to ease 2027 car transition
With the new chassis regulations waiting on the horizon, teams will have to throw millions away for procuring multiple chassis, which has led to discussion around Roger Penske possibly lending money to the teams to get charged up. The 88-year-old-owned corporation that oversees the IndyCar side of business could help IndyCar teams to get over the line for the new impending costs that the squads will have to bear in the coming years.
The current Dallara DW12 chassis has been in use since 2012. Despite multiple changes to the aero kits, the skeleton of the cars has aged in comparison to contemporary times.
With IndyCar teams' annual expenditures rising every year, some team owners have almost no spare money to take on the further burden of buying the new chassis. On top of this, they must manage operational costs for their concurrent campaigns and only have a year to ready up for the big spend.
The ever-increasing cost of running an IndyCar team and the concerning new expenditures might force some teams to take loans from banks to meet their new expenses. Witnessing this new need, Roger Penske-owned Penske Entertainment might get into the business of lending money, specifically for teams to get in line with the new requirements.
This will help Roger Penske utilize his cash reserves and help teams in his championship stay afloat. While the terms of a possible loan deal are not ready and are currently in the discussion stage, Penske Entertainment CEO Mark Miles, said (via RACER):
"The first thing when I think about this whole topic is, getting the new car available to do all the things that we think it can do for us. The second thing is managing cost, the absolute cost of a new car, and finally, is financing it or making arrangements so that the teams can manage it. We haven’t had any conversation about a third-party bank. So some kind of financing is something that we’re giving some thought to."
The motorsport tycoon is known for his grasp over the racing scene in the United States, but his beginnings were not as easy.
Roger Penske's loan shark formula is not something new for Roger Penske
The 88-year-old had been a racecar driver in the past. However, he had ended his career prematurely to start a business. Penske was lent money by his father to kickstart his business, a person who now owns the biggest open-wheel racing championship in the United States and the fabled Indianapolis Motor Speedway.
Thus, Penske has had prior experience in making the loan formula work. He has invested heavily in human capital over the years and is comfortably sitting at the head of the championship, and leads various teams globally in different racing series.