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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

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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]
Scott Dixon celebrates his win in Victory Circle after the GoPro Grand Prix of Sonoma at Sonoma Raceway (Photo by: John Cote for IndyCar Media)
The cars of Ryan Briscoe and Sebastien Bourdais go off course during the start of the GoPro Grand Prix of Sonoma at Sonoma Raceway (Photo by: Richard Dowdy for IndyCar Media)
The cars of Ryan Briscoe and Sebastien Bourdais go off course during the start of the GoPro Grand Prix of Sonoma at Sonoma Raceway (Photo by: Richard Dowdy for IndyCar Media)
The cars of Ryan Briscoe and Sebastien Bourdais go off course during the start of the GoPro Grand Prix of Sonoma at Sonoma Raceway (Photo by: Richard Dowdy for IndyCar Media)
The field scatters as the drivers avoid the cars of Sebastien Bourdais and Ryan Briscoe at Sonoma Raceway (Photo by: Richard Dowdy for IndyCar Media)
Ryan Hunter-Reay, Scott Dixon and Simon Pagenaud on the podium after the GoPro Grand Prix of Sonoma (Photo by: Chris Jones for IndyCar Media)
Ryan Hunter-Reay on pit lane prior to the GoPro Grand Prix of Sonoma at Sonoma Raceway (Photo by: John Cote for IndyCar Media)
Ryan Hunter-Reay navigates the Turn 9 Esses during practice for the GoPro Grand Prix of Sonoma (Photo by: Chris Jones for IndyCar Media)
Ryan Briscoe enters Turn 3 during practice for the ABC Supply Wisconsin 250 at the Milwaukee Mile (Photo by: Chris Jones for IndyCar Media)
Ryan Hunter-Reay enters Turn 3 during practice for the ABC Supply Wisconsin 250 at the Milwaukee Mile (Photo by: Chris Jones for IndyCar Media)
Ryan Briscoe exits Turn 5 during the final practice for the Honda Indy 200 at Mid-Ohio. (Photo by: Chris Jones for IndyCar Media)
Ryan Hunter-Reay on course during practice for the Honda Indy 200 at Mid-Ohio. (Photo by: Chris Owens for IndyCar Media)
Ryan Hunter-Reay on the pit wall at Mid-Ohio (Photo by: Chris Owens for IndyCar Media)

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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!

T - Unregistered

February 07, 2013 1:07 PM

Newman Hass DID receive leaders circle money when they were an entrant in the series - when they pulled out in 2012 their leader circle money went to Dragon and ECR. Its rumoured circa $10m is required per car to run in the Indy series. Its probable that HVM will run a car on behalf of another entrant - rumoured to be Dragonlast I heard..



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