IndyCar introduced a multiyear contract extension with NTT at its title sponsor Thursday, a transfer that solves one of many looming monetary questions dealing with Roger Penske in his second yr as proprietor of the collection.

NTT is a worldwide know-how large that turned the title sponsor of the IndyCar Sequence in 2019. The corporate has since turn out to be the official know-how associate of IndyCar, Indianapolis Motor Speedway, the Indianapolis 500 and NASCAR’s Brickyard weekend.

“Over the primary two years as entitlement sponsor of the collection, the devoted crew at NTT has helped IndyCar turn out to be extra environment friendly and efficient by way of sensible applied sciences,” stated Penske, who turned proprietor of IMS and IndyCar in January 2020. “As our sport continues to develop by connecting with a brand new technology of followers, NTT helps take us down new roads by creating extra partaking experiences by way of our shared digital platforms.”

Subsequent on Penske’s to-do listing is ironing out a brand new tv contract. The present cope with NBC Sports activities is in its closing season, and it stays unclear the place IndyCar might land.

NBC in its present cope with NASCAR will probably be shifting programming to the USA Community when NBC Sports activities Community ceases operations close to the tip of the yr. IndyCar this yr has a report 9 races on NBC, however practices and qualifying have been shifted to its Peacock streaming service.

Penske will little question be on the lookout for a better rights price within the subsequent TV deal, and NBC might select to stroll away.

IndyCar can also be courting a 3rd engine producer, which might not enter the collection any sooner than the 2023 debut of a brand new engine. The brand new V6 engine will go from 2.2 liters to 2.4 and add roughly 100 horsepower. The dual-turbocharged V-6 may even have hybrid tech for the primary time.

“We consider that in each respect the collection is rising,” IndyCar CEO Mark Miles stated. “I hate speaking about being positioned for development. I like development. I feel it is taking place now. All of the metrics are indicating that. Extra followers are paying extra consideration, being extra engaged with us.”

At Indianapolis Motor Speedway, NTT labored with Penske on the 100-foot Pagoda Plaza video board that gives a brand new viewing expertise contained in the historic observe.

The Indianapolis 500 will probably be held Might 30, with qualifying set for this weekend.

The Related Press contributed to this report.