Roger Penske faced his first major test of leadership in the NTT IndyCar Series.
Citing common grievances, a powerful faction of IndyCar team owners banded together in February to discuss issues with the series, which Penske purchased under its Penske Entertainment banner for the 2020 season.
It was the first time in decades that IndyCar team owners had privately hosted a meeting of this kind, and the meeting discussed the overall direction of the series, the rising cost of competition as IndyCar moves toward hybridization, and the 2020 There were a wide range of complaints, including soaring prices. The management and operating fees charged by Penske Entertainment have increased year by year.
Originally scheduled for 30 minutes, the Feb. 8 call, arranged through Rahal Letterman Lanigan Racing, lasted 90 minutes, according to the four teams that have announced their participation in RACER, including Andretti Global, Arrow McLaren, , Chip Ganassi Racing, Ed Carpenter Racing and Meyer Shank Racing participated. .
AJ Foyt Racing, Dale Coyne Racing, Juncos Hollinger Racing and Team Penske did not participate in the meeting.
As the six teams' grievances air behind closed doors, including raising the question of whether Liberty Media would be interested in acquiring the series, team owners are negotiating a unified issue with Penske Entertainment. I ended the call intending to get involved.
The meeting was summarized and the owners decided how to approach Penske, who is prone to anger, in a non-confrontational manner. Unbeknownst to Penske, most IndyCar team owners came together out of concern and concern for the series in which they had invested so much money. It was hoped that he would actively receive the owner's assistance.
Twenty days later, on February 28, a convocation was held by a group representing all 10 full-time teams, joined by Penske and other members of his management team, including Bud Denker and Mark Miles.
“It was expressing a thought and expressing a concern,” Rahal told RACER. “For me, everyone left the meeting feeling good. There was no argument at all.”
Multiple team owners who were asked to share their thoughts on the call with Penske echoed Rahal's sentiments, calling the call a new bridge being built with Penske Entertainment. He characterized the series as demonstrating a willingness to actively participate in identifying problems and finding solutions to them. The issue was well received.
Another important development in the call was how it ended with Penske Entertainment expressing a shared desire to have more discussions with the owners and forge a closer working relationship. Rather than scheduling all future meetings with the entire group, define a smaller group of owners representing different sizes and economic positions within the series, and have those leaders represent all teams in follow-up calls. It was decided to speak out.
“We had a very positive meeting,” Penske Entertainment CEO Mark Miles told RACER. “We also shared some ongoing efforts to grow the series and some important plans for the future. There were many adjustments and helpful conversations. We will continue to do so on a regular basis.” We have agreed to continue discussions.”
RACER said Andretti Global Team owner Michael Andretti and his partner Dan Toris did not participate in the February 28 conference call and were represented by COO Rob Edwards. I understand that it was.
Mr. Andretti met with the media in St. Petersburg on Friday and made some bold observations about Penske's leadership, including that Penske is investing heavily to reach its full potential. It also included a suggestion that if he didn't want to do it, he should sell the series. The comments came at an inopportune time for the ownership group.
Other teams want to maintain a peaceful agreement with Penske, and multiple team owners told RACER on Friday night that public criticism from Andretti has caused newly built bridges with Penske to burn. He said he hopes not. Some said they sympathized with Mr. Andretti's feelings, but had broader concerns about the potential damage they may have caused.