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HVM set to receive $1m entrant's subsidy

HVM Racing is among the teams selected to receive a $1 million subsidy from the IZOD IndyCar Series, all-but confirming that the team will run an entry in 2013 after all.
HVM Racing looks set to return to the IZOD IndyCar Series in 2013 after all, after being among the teams selected to receive a subsidy of at least $1 million dollars from the championship's Leaders Circle program.

The program distributes revenue raised from the series' commercial income in 2013 - including TV rights and sanctioning fees - among the various full-time competitors in an effort to ensure the quality of on-track competition is balanced throughout the field. To actually receive the funds, the entrant must successfully qualify for the Indianapolis 500 in May.

Last year the series limited the subsidies to 20 teams, but this time the organisers have used their discretionary powers to extend the program to all 22 returning full-time entries in the 2013 season. That will include Sarah Fisher Hartman Racing's Josef Newgarden as well as one of the Dragon Racing entries - almost certainly that of Sebastien Bourdais - which otherwise would not have been eligible.

But the surprise is the additional inclusion of HVM Racing in the list of Leaders Circle recipients, as the team's participation in the new season had been thought to be in considerable doubt until this point following the exit of their former driver Simona de Silvestro to take up a seat at KV Racing Technology. (See story.)

De Silvestro had been with HVM since her IndyCar début in 2010, and her departure also meant the team lost her sizeable personal sponsorship backing from Entergy Nuclear, AREVA and the Nuclear Clean Air Energy campaign, seemingly leaving HVM with little left in the cupboard with which to mount a 2013 entry.

The team's exit from IndyCar became even more likely last month when it announced a partnership with Status GP to field a Lola Coupe in the LMP2 class of the 2013 FIA World Endurance Championship. (See story.)

But the Leaders Circle funds mean that HVM will indeed be back in IndyCar in 2013, even though no formal announcement has yet been made and no drivers have been linked with the now-vacant race seat. The team said on Wednesday that their car would be a co-branded entry with another operation.

“We'll be collaborating with another team on our entry, the details of which will be revealed shortly,” said team owner Keith Wiggins, who confirmed that the Leaders Circle funds had been received contingent on that to-be-confirmed relationship.

HVM's inclusion among the teams receiving the $1 million subsidy was only possible because three of last year's entries are no longer running: Ganassi has stepped down to a three-car team with the departure of Graham Rahal to Rahal Letterman Lanigan for this season, while KV Racing is set to be a two-car line-up after losing both EJ Viso and Rubens Barrichello in exchange for de Silvestro running alongside retained team stalwart Tony Kanaan.




Related Pictures

Click on relevant pic to enlarge
15-21 MAY, 2010, Indianapolis, Indiana, USA #21 HP de Ferran Dragon Racing`s Davey Hamilton.
Sam Schmidt Motorsports` Tristan Vautier and Simon Pagenaud at Sebring International Raceway in December 2012. (Photo Credit: J. Hendrick for IndyCar Nedia)
Simon Pagenaud in action on the streets of Baltimore. (c) 2012 Phillip Abbott (Photo Credit: INDYCAR/LAT USA)
HVM Racing`s Simona de Silvestro testing at Sebeing - February 2012. [Photo Credit: HVM Racing]
Simona de Silvestro in the #78 Nuclear Clean Air Energy Lotus HVM Racing car  during pre-season testing at Sebring. March 2012. [Photo Credit: Michael Levitt - LAT for IndyCar Media]
Justin Wilson and Ryan Hunter-Reay discuss practice at IMS (Photo by: Chris Jones for IndyCar Media)
The podium of Josef Newgarden, Graham Rahal, and Scott Dixon celebrate with champagne following the Honda Indy Grand Prix of Alabama at Barber Motorsports Park on Sunday April 26 2015. (Photo by: Chris Owens for IndyCar Media)
Josef Newgarden crosses the finish line to win the Honda Indy Grand Prix of Alabama at Barber Motorsports Park on Sunday April 26 2015. (Photo by: Chris Owens for IndyCar Media)
Josef Newgarden in action in the Honda Indy Grand Prix of Alabama at Barber Motorsports Park on Sunday April 26 2015. (Photo by: Chris Owens for IndyCar Media)
Graham Rahal in action in the Honda Indy Grand Prix of Alabama at Barber Motorsports Park on Sunday April 26 2015. (Photo by: Chris Owens for IndyCar Media)
Graham Rahal celebrates in victory lane after finishing second in the Honda Indy Grand Prix of Alabama at Barber Motorsports Park on Sunday April 26 2015. (Photo by: Chris Jones for IndyCar Media)
The podium of Josef Newgarden, Graham Rahal, and Scott Dixon celebrate in Victory Circle following the Honda Indy Grand Prix of Alabama at Barber Motorsports Park on Sunday April 26 2015. (Photo by: Chris Jones for IndyCar Media)
Josef Newgarden celebrates in victory lane after winning the Honda Indy Grand Prix of Alabama at Barber Motorsports Park on Sunday April 26 2015. (Photo by: Chris Jones for IndyCar Media)
The podium of Josef Newgarden, Graham Rahal, and Scott Dixon celebrate in Victory Circle following the Honda Indy Grand Prix of Alabama at Barber Motorsports Park on Sunday April 26 2015. (Photo by: Joe Skibinski for IndyCar Media)
The podium of Josef Newgarden, Graham Rahal,and Scott Dixon hoist their trophies following the Honda Indy Grand Prix of Alabama at Barber Motorsports Park on Sunday April 26 2015. (Photo by: Joe Skibinski for IndyCar Media)
The podium of Josef Newgarden, Graham Rahal,and Scott Dixon hoist their trophies following the Honda Indy Grand Prix of Alabama at Barber Motorsports Park on Sunday April 26 2015. (Photo by: Joe Skibinski for IndyCar Media)
Scott Dixon, driver of the #9 Coke Chip Ganassi Racing Chevrolet IndyCar V6, races to a third place finish Sunday, April 25, 2015 during the Verizon IndyCar Series Grand Prix of Alabama at Barber Motorsports Park in Birmingham, Alabama. (Photo by Phillip Abbott/LAT for Chevy Racing)
Josef Newgarden, driver of the #67 Hartman Oil CFH Racing Chevrolet V6 IndyCar, celebrates his victory Sunday, April 25, 2015 after winning the Verizon IndyCar Series Grand Prix of Alabama at Barber Motorsports Park in Birmingham, Alabama. This is Newgarden`s first victory in the IndyCar series. (Photo by Gregg Ellman/LAT for Chevy Racing)

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shaken - Unregistered

February 07, 2013 2:26 PM

.......there is a snag, they still have to qualify for the 'Greatest Spectacle in Racing' (thats the Indy500) in May! That much said, may I wish them all the best and good racing!

shaken - Unregistered

February 07, 2013 2:27 PM

.......there is a snag, they still have to qualify for the 'Greatest Spectacle in Racing' (thats the Indy500) in May! That much said, may I wish them all the best and good racing!



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