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Indy 500 winner Josef Newgarden signs contract extension with Team Penske

With consecutive Indianapolis 500 wins, two NTT IndyCar Series championships and 30 IndyCar victories, including 27 with Team Penske, it made tremendous sense for Josef Newgarden and Team Penske to stay together for the future.

It became official on Saturday afternoon during the Chevrolet Detroit Grand Prix when the team announced a contract extension with the IndyCar Series star.

“This feels a lot like home to me,” Newgarden said. “This is my eighth year with the team. They have given me all the opportunities I could have ever dreamed of. I really enjoyed my time here, immensely. There is nothing that has ever been missed. Very grateful for our partnerships across the board.

“Chevrolet has backed every IndyCar win I’ve ever had, whether it was before Penske or all along. Not anywhere else I want to go. I have enjoyed working with Chevrolet because they have supported me throughout my career.”

Earlier on Saturday, Hitachi Astemo extended the company’s partnership with Team Penske in a new multi-year agreement.

“The relationship with Hitachi was certainly very good when I joined Team Penske,” said Newgarden. ‘I used to see Helio Castroneves driving the Hitachi car. I thought if I had the opportunity to drive for this team one day, I would love to drive that car. Helio passed the torch in 2018. In 2019 we were able to follow that up with a championship.

“I don’t think it’s far-fetched to say that we could have almost won four championships together in that period. We came second, second, three years in a row. One pair was very close.

“I think what I look at, what is most satisfying, is that the potential has still not been achieved. There’s a higher ceiling here that we haven’t reached yet. That makes me excited for the future.”

Newgarden’s victory was team owner Roger Penske’s record-extending 20th Indianapolis 500 victory.

“Josef Newgarden is a true winner and we are excited that he will remain a part of Team Penske for years to come,” said team owner Roger Penske. “What he did on Sunday in the Indianapolis 500 shows how Josef consistently performs for our team and our partners on the track, and he is just as impressive off the track. We are proud to have Josef continue with our organization as his skills and passion embody what it means to be a Team Penske driver.”

Newgarden is one of the biggest stars in the IndyCar Series and has called Team Penske his home since the 2017 season. In his seven-plus seasons with the organization, Newgarden has amassed a total of 27 wins, 16 NTT P1 Award pole positions and two IndyCar Series championships in 2017 and 2019.

A versatile driver who can win at any track, Newgarden has established himself as the best oval racer in the series and his 30 career wins place him alone at 13th on the all-time wins list.

Most notably, the Nashville, Tennessee native won the checkered flag in the Indianapolis 500 in 2023 and 2024, becoming the first driver since 2002 to win the race in consecutive seasons. His victory in the 2024 Indianapolis 500 on Sunday afternoon gave Team Penske 20 victories in “The Greatest Spectacle in Racing.” This extension allows Newgarden to pursue immortality as the first driver to win three consecutive Indianapolis 500s with the most successful team in the race’s 108-year history.

In addition, this year Newgarden became the first driver in Team Penske history to win the Indianapolis 500 and the Rolex 24 at Daytona in the same season, helping the team win the endurance classic for the first time since 1969.

“Driving for Roger Penske and this iconic team is a dream I never thought I would achieve,” said Newgarden. “I am grateful for the opportunities I have been given during my time with Team Penske. I have great respect for the individuals who make up our group, including the partners who support us.

“Our time together was filled with hard work, teamwork and dedication; and I’m so excited that we’ll continue for many years to come. I am sure we can achieve much more in the future. I still believe that together we have not yet reached our full potential.”

Newgarden sits seventh in the 2024 IndyCar Series standings with one win and two top-five finishes in the No. 2 Team Penske Chevrolet. He is the 2019 winner of the Chevrolet Detroit Grand Prix, the site of this weekend’s sixth round of the IndyCar Series championship, which airs live on the USA Network on Sunday, June 2 at noon ET.

Team Penske is one of the most successful teams in the history of professional sports. Cars owned and prepared by Team Penske have produced more than 625 major race victories, more than 685 pole positions and 44 championships in open wheel, stock car and sports car racing.

Entering its 58th season in 2024, Team Penske has also racked up 20 Indianapolis 500 wins, three Daytona 500 championships, a Formula 1 win, wins at the 24 Hours of Daytona and the 12 Hours of Sebring, along with a win in the legendary Bathurst 1000 in Australia. race.

In 2024, Team Penske will compete in the NTT IndyCar Series, NASCAR Cup Series, IMSA WeatherTech SportsCar Championship and the FIA ​​World Endurance Championship.

“The timing was actually perfect,” Newgarden said. “You never know when you’re going to win the Indianapolis 500. The fact that we’ve done that, we have this great expansion with Hitachi Astemo, we’re here in GM’s backyard, literally in their house, Penske Corporation is down the road, I thought it would be a good time to put this together.

“This has been going on for a while, so it’s not a surprise.”