Dreyer & Reinbold Racing (DRR) announced on Wednesday (22) the purchase of one of Rahal Letterman Lanigan Racing’s (RLL) charters. The team, which had been competing solely as an Indianapolis 500 entry in recent years, will return to full-time IndyCar competition starting in 2027. However, the deal—the first of its kind since IndyCar introduced its charter system—remains subject to final approval from the sanctioning body.
RLL received three of the 25 charters IndyCar awarded to full-time teams in late 2024. The series introduced the charter system in part to generate added value for entries on the grid, as there was previously no entry fee barrier to joining the competition—a model closely mirroring the system NASCAR adopted in 2016. Provided a team had the infrastructure, they simply needed to pay the entry fee for a race or championship to compete, with no other obstacles in their way.
With RLL’s third car often finding itself underfunded or lacking competitiveness, finding the right buyer to take over the charter emerged as the ideal solution. The sale to DRR also marks the first-ever charter transaction in IndyCar history.
“I want to thank Bobby Rahal, Mike Lanigan, David Letterman, and Jay Frye for the way they approached this from our very first conversation. They treated this as a partnership between two organizations that want to see each other succeed, and today’s announcement reflects that,” said Derek Reinbold, DRR CEO and son of team founder Dennis Reinbold, who passed away in June.
“IndyCar is in the strongest position it has been in for decades, and that is a direct result of Roger Penske’s stewardship and leadership. The growth of this series, on the track and off, made this the right moment for our team to return to full-time racing. My dad built Dreyer & Reinbold Racing and poured his life into it, and our family has been part of the Speedway for four generations. Competing for a full season again is the truest way we can honor his legacy, and we intend to make him proud”, he highlighted.
The estimated sale price for the charter is $13 million, setting an important benchmark for two- and three-car teams in IndyCar regarding asset valuation and establishing a baseline for future charter transactions.
“I always held immense respect for Dennis Reinbold, both as a fellow team owner and as a fellow auto dealer. His dedication to IndyCar and the legacy he built over many years earned him the respect of everyone in the paddock,” said RLL co-owner Bobby Rahal, before explaining the decision behind the sale.
“As we evaluated the long-term direction of our organization, we made the strategic decision to transition back to a two-car full-time program starting in 2027. We believe this positions our team to maximize our level of competitiveness while allowing us to focus our resources on preparing for the introduction of the new car,” he detailed.
“Dennis had expressed interest in acquiring a charter from the moment the system was established, and we had several conversations prior to his passing. We are pleased to have finalized this deal, and we couldn’t think of a more deserving organization to receive the charter. This reflects the Reinbold family’s long-standing commitment to the sport and helps ensure that legacy continues,” he emphasized.
DRR has yet to name the driver for its single entry in the 2027 season. The primary candidate is Conor Daly, who has driven for the team in recent runnings of the Indy 500.
