IndyCar Just Gave Honda and Chevrolet Something No Series Has Ever Offered

And that single move may have solved motorsport’s most persistent business problem

Every major racing series on the planet deals with the same nightmare scenario.

A car manufacturer walks into the boardroom, spends tens of millions of dollars a year on a racing program, wins some races, gets some TV time... and then a new CFO shows up, asks “what exactly are we getting for this?”, and pulls the plug.

It’s happened in F1. It’s happened in NASCAR. It’s happened in Le Mans. The oldest story in motorsport.

But IndyCar chose to change that narrative this time around.

Earlier this month, IndyCar President Doug Boles announced multi-year contract extensions with both Chevrolet and Honda, locking in the series’ engine supply through at least 2030. But the headline goes beyond the length of the deal. The real story is the structure.

Starting in 2028, each manufacturer receives a transferable charter, a guaranteed grid entry that functions as a financial asset, one that appreciates alongside the series itself.

This is the first time in IndyCar history, and arguably in all of top-tier global motorsport, that a sanctioning body has handed manufacturers an equity-like stake in the competition.

Let me explain why this is a much bigger deal than it sounds.

Honda Was Ready to Walk

This deal didn’t happen because everyone was happy.

Honda had been openly threatening to leave since late 2023. American Honda Motorsports Manager Chuck Schifsky wasn’t subtle about it either, bluntly stating that cost was the dealbreaker. And when you see the numbers, you understand why.