IndyCar Great Will Power Signs Contract Extension With Team Penske

Two-time NTT IndyCar Series champion Will Power will achieve historic tenured status at Team Penske after signing a contract extension to remain with the team for “multiple years.”

Power and Penske Corporation President Bud Denker both confirmed the extension to me on the evening of March 31 at Texas Motor Speedway, site of Sunday’s PPG 375.

The 42-year-old Toowoomba, Australia native who now lives with his family on Lake Norman in North Carolina is one of the NTT IndyCar Series all-time greats.

He is a two-time IndyCar Series champion and is the all-time leader in IndyCar poles with 68. He broke Mario Andretti’s record of 67 poles when he was the fastest qualifier before last season’s final race, the Firestone Grand Prix of St. Petersburg.

Power is fifth in all-time IndyCar wins with 41, including the 2018 Indianapolis 500.

Power has also joined the ranks with Helio Castroneves and Rick Mears as longest tenured IndyCar drivers at Team Penske. Castroneves drove for Team Penske from 2000 to 2020 for a total of 21 seasons. Mears drove for Team Penske from 1978 to 1992 for 15 seasons.

Power joined Team Penske on a part-time basis in 2009 and became a full-time driver in 2010. He is starting his 15^th season with Team Penske and depending on the length of his “multiple-year contract” will narrow the gap on Castroneves time at Team Penske.

“I’ve been at Team Penske a long time and feel bloody fortunate to be able to drive for (team owner and IndyCar owner) Roger Penske for Roger Penske for that long, be given all of those opportunities to win championships and Indianapolis 500s,” Power told me. “The older you get, the more you realize how blessed you are to be in this situation.”

When Power signed his prior contract extension two years ago, he wanted at least one more contract. With that contract extension now signed, does he want yet another contract extension when this one ends?

“Good question,” Power said. “I haven’t even thought about it.

“It all depends on how well I do.”

After winning his second NTT IndyCar Series championship last season, the big goal becomes another victory in the Indianapolis 500.

“That is something I’m pretty focused on,” Power said. “It would be a great way to end a career with a couple more Indianapolis 500 wins.”

Earlier in March, Team Penske and longtime sponsor Verizon agreed to a long-term contract extension with both the IndyCar team and Penske Corporation. The next step was to extend the Verizon driver.

“Think about how long Verizon has been with us, with Will being the brand for Verizon for all those years and Verizon being with us continuously for all those years, it’s a great, great partnership,” Denker told Forbes.

“It’s great to have last year’s champion signed again.”

Power proved with last year’s championship, that he remains one of the top drivers in the series.

“No doubt, he’s still got it,” Denker said. “He went after Mario Andretti’s record for poles last year, exceeding that in the final race of the year, to go into the championship race as the leader and close it out, no question, he’s still got it.”

Back in March, Verizon and Team Penske announced a contract extension for both the team and Penske Corporation. With the sponsorship deal completed, the next step was to lock down the Verizon-sponsored driver.

“Think about how long Verizon has been with us, with Will being the brand for Verizon for all those years and Verizon being with us continuously for all those years, it’s a great, great partnership,” Denker told me. “It’s great to have last year’s champion signed again.”

Power proved with last year’s championship, that he remains one of the top drivers in the series.

With Power signed, all three of Team Penske’s IndyCar drivers and all three of its NASCAR Cup Series drivers will remain with the team for future seasons.

“We have a great stable of drivers, and it’s great to have them all signed, not only on the IndyCar side, but also on the NASCAR side,” Denker said.