David Malukas has publicly confronted speculation surrounding his connection to Team Penske’s sponsor amid growing uncertainty about Will Power’s contract status in IndyCar. The AJ Foyt Racing driver firmly denied rumors suggesting he would take over Power’s seat at Penske in 2026, despite the sponsorship overlap raising questions.
Will Power, a two-time IndyCar champion, is currently in the final year of his contract with Roger Penske’s team. In mid-July, Power disclosed that Penske had temporarily halted contract talks, postponing them until August. However, just before the Grand Prix of Portland, he indicated no advancement had been made regarding his extension.
Meanwhile, rumors sparked because Gallagher, a significant Team Penske sponsor, appeared as the primary sponsor on Malukas’s No. 4 Chevy during the Portland race weekend, raising eyebrows given the sponsorship’s usual ties with Penske.
When questioned about the awkward connection, Malukas responded,
“No. I mean, it’s same old, same old. When it comes to the sponsorship, there’s an alliance between Foyt and Penske. Obviously, that transcends through sponsorship, as well.”
This clarifies that the sponsorship overlap stems from a broader alliance rather than a sign of future driver moves. AJ Foyt Racing has maintained a technical partnership with Team Penske since mid-2023, but the Gallagher sponsorship only applies to Malukas’s car, not that of his teammate Santino Ferrucci.
According to reporter Marshall Pruett, Malukas is officially contracted by Team Penske but currently drives for AJ Foyt Racing in the No. 4 Chevy. When directly asked if he was set to replace Power at Penske, Malukas confirmed,
“No, from my side it’s same old, same old. As of right now, I signed a multi-year deal with Foyt. That’s kind of where the trajectory goes right now.”
Will Power’s Contract Negotiations with Team Penske Remain Stalled
Prior to the Grand Prix of Portland, Will Power openly discussed his unsettled contract situation after nearly two decades with Team Penske. The 44-year-old driver admitted the team had not communicated any updates regarding his extension.
Power stated,
“Yeah, I don’t think I’ll know until after the end of, or during the weekend in Nashville,” Power told reporter Bob Pockrass. “I just want to know, to be honest. I would like to know what I’m doing. That would be nice. Sort of the stress will be off me, you know, where am I driving? Am I driving at all?”
In a subsequent interview with Fronstretch, the 2018 Indianapolis 500 winner added that Team Penske’s leadership has been busy and confirmed that following the season finale in Nashville on August 31, he would be free to negotiate with other IndyCar teams.
Despite ongoing speculation, Team Penske appears to have no clear reason to release Power beyond concerns related to his age. The veteran driver has delivered the strongest performances for the team during what has been an unpredictable and difficult season. His teammates, Scott McLaughlin and Josef Newgarden, have struggled amid a series of setbacks affecting the entire Penske operation.
What Lies Ahead for Will Power and Team Penske
Will Power’s unresolved contract situation adds tension to Team Penske’s 2025 season as the season finale in Nashville approaches. With Power potentially free to talk to rival teams after August 31, the uncertainty raises questions about the team’s driver lineup for the coming years. Meanwhile, Malukas’s continuation with AJ Foyt Racing under a multi-year deal solidifies his current focus despite the sponsorship crossover with Penske’s brands.
The ongoing negotiations and alliances illustrate the complicated dynamics in IndyCar team strategies, sponsorship agreements, and driver futures. How this situation unfolds will be closely watched by fans and insiders, especially given Power’s longstanding success and influence within Team Penske.