Doug Boles Gives Important Update on PREMA Racing’s Future in the Series to Stay Involved Unlike the Other 10 Teams After Legend Michael Andretti Said “To be clear, I have no intention of ever becoming an INDYCAR team owner.”
Indianapolis, IN – In a pivotal moment for the NTT IndyCar Series as it navigates its 2026 preparations, IMS and IndyCar President Doug Boles delivered a reassuring update on the status of rookie team PREMA Racing, emphasizing their determination to remain on the grid despite swirling financial uncertainties. Speaking to reporters during an open test session at the Indianapolis Motor Speedway on October 21, Boles quashed rampant rumors of the Italian powerhouse’s potential exit, highlighting ongoing dialogues with team principal Piers Phillips. This comes mere hours after motorsport legend Michael Andretti publicly distanced himself from any involvement in acquiring the team, a development that has left PREMA as the lone outlier among 11 independent operations facing turbulent futures.
PREMA Racing’s 2025 debut season marked a bold transatlantic leap for the squad renowned for dominating Europe’s junior formulas, including Formula 2 and Formula 3, where it has nurtured talents like Oscar Piastri and Oliver Bearman into Formula 1 stardom. Fielded with Chevrolet power under the No. 90 and No. 91 banners, the team entrusted its entries to former Ferrari junior Robert Shwartzman and British veteran Callum Ilott. Shwartzman, making his IndyCar bow, etched his name into history by clinching pole position for the Indianapolis 500 – the first rookie to do so since 1983 – while Ilott delivered consistent top-10 finishes, including a hard-fought 12th at the Brickyard before a post-race penalty for a minor front-wing infraction dropped him to 33rd.
Yet, beneath the on-track promise lay off-track challenges. As one of only two non-chartered teams in a series where charters guarantee starting spots and access to the lucrative Leaders Circle Fund – a payout system rewarding the top 22 finishers – PREMA operated without the financial safety net enjoyed by established outfits like Team Penske, Chip Ganassi Racing, and Andretti Global. Reports surfaced throughout the season of sponsorship shortfalls, with co-owner Deborah Meyer reportedly injecting over $40 million personally to sustain the rookie campaign. Whispers of a full sale, valued between $20-25 million, began circulating in the paddock by mid-summer, fueled by the team’s exclusion from charter protections amid IndyCar’s evolving entry limits of 27 cars per non-Indy event.
Boles, who assumed dual presidency of IndyCar and IMS in February 2025 following a decade of leadership under Jay Frye, addressed the speculation head-on during the test day media scrum. “I talked to Piers at Prema last week,” Boles revealed, his tone steady amid the roar of Dallara chassis thundering around the 2.5-mile oval. “I know they’re working really, really hard to continue to be on the grid.” He underscored the series’ commitment to fostering new entrants, noting productive ongoing discussions about PREMA’s 2026 blueprint. Unlike the chartered entities, which benefit from stabilized revenue streams, PREMA’s path forward hinges on securing fresh backers – a hurdle Boles suggested the series is actively helping navigate through targeted outreach to global partners.
The timing of Boles’ comments could not have been more poignant, landing on the same day Andretti, the 1991 CART champion and architect of one of IndyCar’s most storied dynasties, fired off a terse clarification on social media. “Just to set the record straight, I have no intention whatsoever to become an owner of an INDYCAR team,” the 63-year-old posted, effectively slamming the door on paddock buzz that he might swoop in to rescue PREMA. Andretti’s retreat from team ownership earlier in 2025 – handing reins of Andretti Global to business partner Dan Towriss of Group 1001 – had already reshaped the series landscape. His departure, after four tumultuous years marked by public clashes with series owner Roger Penske over marketing investments and officiating reforms, left fans speculating about a potential encore. Towriss’ acquisition preserved the Andretti name but shifted focus toward diversification, including Colton Herta’s transition to a test role with the incoming Cadillac F1 Team.
Andretti’s disavowal leaves PREMA uniquely exposed. Of the 11 non-chartered or at-risk operations – including outfits like Juncos Hollinger Racing, Meyer Shank Racing, and A.J. Foyt Enterprises – most grapple with similar fiscal pressures exacerbated by IndyCar’s hybrid engine rollout and the push for a third manufacturer. Chip Ganassi Racing’s mid-season downsizing from five to three cars exemplified the contraction trend, while Meyer Shank’s alliance switch from Andretti to Ganassi underscored the scramble for stability. PREMA, however, stands apart as the fresh-faced disruptor, its European pedigree drawing admiration but also scrutiny in a series hungry for international flavor. Shwartzman and Ilott’s synergy – blending raw speed with tactical nous – netted the team three podiums and a best finish of second at Road America, metrics that Boles cited as evidence of untapped potential.
Industry insiders view PREMA’s persistence as a litmus test for IndyCar’s appeal to overseas invaders. “They’re not just any team; they’re the gold standard in talent development,” noted RACER magazine’s Marshall Pruett, who first amplified the sale rumors. “If PREMA bows out, it signals to other Euro squads that the investment might not yield dividends.” Boles echoed this sentiment, framing the team’s resolve as symbiotic with the series’ growth ambitions. Under his stewardship, IndyCar has accelerated reforms post-2025 Indy 500 controversies – including partial 3D scanning for tech inspections and an independent sporting council – to bolster credibility. These moves, born from penalties affecting PREMA and Andretti cars alike, aim to attract deeper-pocketed entrants.
For Shwartzman, whose Ferrari ties remain a tantalizing “what if” for F1 observers, and Ilott, eyeing a sophomore surge, the uncertainty looms large. Both drivers expressed optimism during the test, with Ilott quipping about his “brunch-ruining” Indy penalty while praising PREMA’s garage ingenuity. Phillips, meanwhile, has remained tight-lipped, focusing on engine mapping tweaks for the hybrid era debuting next year.
As autumn leaves swirl across the Brickyard, Boles’ update injects hope into a narrative teetering on exodus. PREMA’s saga – one of grit against the grind – could redefine IndyCar’s roster, proving that in open-wheel’s high-stakes arena, resolve often outpaces rumor. With Andretti’s chapter closed and the grid’s other independents circling wagons, PREMA’s bid to endure isn’t just survival; it’s a statement of faith in America’s racing heartbeat.
