Note: The Penske Entertainment editorial staff is looking back at the 10 biggest moments of 2024 in the NTT INDYCAR SERIES in this year-end series, with one installment appearing on the site per day in countdown fashion from Dec. 22-31.
Owners of nine teams competing in the NTT INDYCAR SERIES accepted charters for 25 entries, effective with the announcement in September.
The charter system was the first to be introduced in the history of the NTT INDYCAR SERIES. A chartered entry is guaranteed a starting position on the grid at all NTT INDYCAR SERIES races, excluding the Indianapolis 500 presented by Gainbridge. Entrants must still go through the standard qualifying process to earn one of the 33 starting positions in “The Greatest Spectacle in Racing.”
An entry also must be chartered to qualify for the annual NTT INDYCAR SERIES Leaders Circle program, an annual award program that compensates the 22 top finishers in the prior year’s NTT INDYCAR SERIES championship. The terms of the initial, long-term charter agreements are committed through the end of 2031.
“This is an important development that demonstrates an aligned and optimistic vision for the future of our sport,” Penske Entertainment Corp. President and CEO Mark Miles said at the time of the announcement. “I want to extend my sincere appreciation to our team owners for their collaboration and ideation throughout this process. Ultimately, we’re pleased to have a system in place that provides greater value for our ownership and the entries they field.”
Charters were extended to team owners based on full-time entries over the previous two seasons, with a maximum of three awarded per team.
Five teams received three charters each: Andretti Global, Arrow McLaren, Chip Ganassi Racing, Rahal Letterman Lanigan Racing and Team Penske.
The other four teams were issued two charters each: AJ Foyt Enterprises, Dale Coyne Racing, Ed Carpenter Racing, Juncos Hollinger Racing and Meyer Shank Racing.
As PREMA Racing will be a new full-time team to the NTT INDYCAR SERIES in 2025, it did not receive a charter and therefore must qualify for all races based on speed. Twenty-seven car-and-driver combinations will be permitted to start all races other than the “500.”
Owners of NTT INDYCAR SERIES teams hailed the charter system as a win for the future.
“I believe this is a path that is beneficial for all of the owners and for INDYCAR while also maintaining the availability for open competition,” said Larry Foyt, president of AJ Foyt Enterprises.
Meyer Shank Racing’s Michael Shank called the charter system “the single-most important piece for the future of the series.”
Added Chip Ganassi Racing’s Chip Ganassi: “When you look back in the modern era of INDYCAR racing, you will look at a few important moments, the first being the unification of the sport, the next being Roger Penske buying the INDYCAR SERIES and IMS, and I truly believe the third will be the charter system.”