Rahal Letterman Lanigan Racing has become the first IndyCar team to sell a charter under the series’ new system and will become a two-car operation in 2027.
Dreyer & Reinbold Racing is the buyer and will field a full-time one-car effort starting next year. The team has been part-time since 2013 and has only entered cars in the Indy 500 since 2021.
Terms of the sale were not announced, but Racer.com reported that the price is rumored to be $13 million. IndyCar charters trade in a free market, like NASCAR charters, with the price set between the parties involved in each transaction.
and Dreyer & Reinbold Racing said it will confirm its driver later in the season, although many in the sport expect Conor Daly to be the favorite for the seat. Daly drove for the team in the past three Indy 500s.
“I want to thank Bobby Rahal, Mike Lanigan, David Letterman and Jay Frye for the way they approached this from our very first conversation,” Derek Reinbold, DRR chief executive officer, said in a news releae. “They treated this as a partnership between two organizations that want to see each other succeed, and this announcement today reflects that.”
Rahal Letterman Lanigan Racing has not said which of its drivers will leave the team, but Louis Foster and Graham Rahal have long-term contracts, while Mick Schumacher is on a one-year deal. Rahal could retire as a full-time driver, however, and leave the seat to Schumacher, who is coming off a season-best eighth-place finish at Nashville.
“I have always had tremendous respect for Dennis Reinbold, both as a fellow team owner and as a fellow automobile dealer,” RLL co-owner Bobby Rahal said. “His dedication to INDYCAR and the legacy he built over many years earned the respect of everyone in the paddock. As we evaluated the long-term direction of our organization, we made the strategic decision to return our full-time program to two cars beginning in 2027. We believe this positions our team to be able to maximize our level of competition while allowing us to focus our resources as we prepare for the introduction of the new car.”
The IndyCar charter system kicked off in 2025 when it issued 25, which guarantee entry in all races aside from the Indy 500. It has sinced announced that it is eliminating open entries at all races except the Indy 500, starting in 2027. IndyCar also approved two additional charters for its engine suppliers, Chevrolet and Honda, to use as they see fit, which go into effect in 2027. The automakers can either field their own cars or partner with independent teams.
