Indianapolis, IN
Indy 500 Winner Josef Newgarden Signs Contract Extension At Team Penske
IndyCar driver Josef Newgarden and his son Kota on May 27, 2024, at the Indianapolis Motor Speedway … [+]
With back-to-back Indianapolis 500 victories, two NTT IndyCar Series Championships and 30 career IndyCar wins including 27 with Team Penske, it made tremendous sense that Josef Newgarden and Team Penske stay together for the future.
It became official Saturday afternoon at the Chevrolet Detroit Grand Prix as the team announced a contract extension with the IndyCar Series star.
“This very much feels like home here to me,” Newgarden said. “This is my eighth year with the team. They’ve provided me with every opportunity that I could have ever dreamed of. I’ve enjoyed my time here immensely, immensely. There’s nothing that’s ever been missing. Very thankful to our partnerships across the board.
“Chevrolet has powered every single one of my IndyCar victories that I’ve ever had, whether that was pre-Penske or during the entire time. Not somewhere else I want to go. I have loved working with Chevrolet, having them support me my entire career.”
Earlier on Saturday, Hitachi Astemo extended the company’s partnership with Team Penske in another multi-year agreement.
“Certainly, the Hitachi relationship was a very good one to receive when I got to Team Penske,” Newgarden said. “I used to watch Helio Castroneves drive the Hitachi car. I thought if one day I had an opportunity to drive for this team, I would love to drive that car. Helio passed the torch in 2018. We were able to follow that up with a championship in 2019.
“I don’t think it’s farfetched to say we nearly could have had four championships together in that time span. We finished second, runner-up, three years in a row. A couple were very close.
“I think for me what I look at, which is most gratifying, is the potential still has not been reached. There’s a higher ceiling here that we haven’t maxed out yet. That makes me excited for the future.”
Team owner Roger Penske (left) and Josef Newgarden on May 27, 2024 at the Indianapolis Motor … [+]
Newgarden’s victory was team owner Roger Penske’s record-extending 20th Indianapolis 500 victory.
“Josef Newgarden is a true winner, and we are excited that he will continue as a part of Team Penske for years to come,” said team owner Roger Penske. “What he did Sunday in the Indianapolis 500 shows how Josef consistently delivers for our team and our partners on the track, and he is just as impressive off the track as well. We are proud to have Josef continue with our organization as his skill and passion embody what it means to be a Team Penske driver.”
Newgarden is one of the biggest stars in the IndyCar Series and has called Team Penske home since the 2017 season. In his seven-plus seasons with the organization, Newgarden has totaled 27 wins, 16 NTT P1 Award pole positions, and two IndyCar Series championships in 2017 and 2019.
A well-rounded driver that can win on any circuit, Newgarden has established himself as the top oval racer in the series and his 30 career victories place him alone in the 13th position on the all-time series wins list.
Most-notably, the Nashville, Tenn. native took the checkered flag in the Indianapolis 500 in 2023 and 2024, becoming the first driver since 2002 to win the race in consecutive seasons. His 2024 Indianapolis 500 victory on Sunday afternoon gave Team Penske 20 wins in “The Greatest Spectacle in Racing.” This extension will allow Newgarden to chase immortality as the first driver to win three-consecutive Indianapolis 500s with the most-successful team in the race’s 108-year history.
Josef Newgarden in victory lane after the Rolex 24 at Daytona International Speedway on January 28, … [+]
In addition, this year Newgarden became the first driver in Team Penske history to win the Indianapolis 500 and the Rolex 24 at Daytona in the same season when he helped the team to the overall win in the endurance classic for the first time since 1969.
“Driving for Roger Penske and this iconic team is a dream that I never thought I would realize,” Newgarden said. “I’m thankful for the opportunities that I’ve been given during my time at Team Penske. I have a great amount of respect for the individuals that comprise our group, including the partners who support us.
“Our time together has been filled with hard work, teamwork and dedication; and I’m so excited that we will continue on for many more years to come. I’m sure that we can achieve much more in the future. I still believe we haven’t reached our full potential together just yet.”
Newgarden is seventh in the 2024 IndyCar Series standings with one win and two top-five finishes in the No. 2 Team Penske Chevrolet. He is a 2019 winner of the Chevrolet Detroit Grand Prix, site of this weekend’s sixth round of the 2024 IndyCar Series championship that can be seen live on the USA Network at 12:00 pm ET on Sunday, June 2.
Team Penske is one of the most successful teams in the history of professional sports. Cars owned and prepared by Team Penske have produced more than 625 major race wins, over 685 pole positions and 44 championships across open-wheel, stock car and sports car racing competition.
Entering its 58th season in 2024, Team Penske has also earned 20 Indianapolis 500 victories, three Daytona 500 Championships, a Formula 1 win, victories in the 24 Hours of Daytona and the 12 Hours of Sebring, along with a win in Australia’s legendary Bathurst 1000 race.
In 2024, Team Penske will compete in the NTT IndyCar Series, NASCAR Cup Series, IMSA WeatherTech SportsCar Championship and the FIA World Endurance Championship.
“The timing was kind of perfect,” Newgarden said. “You never know when you’re going to win the Indianapolis 500. The fact that we did, we have this great extension with Hitachi Astemo, we’re here in GM’s backyard, literally in their house, Penske Corporation is up the road, seemed like a good time to put this together.
“This has been coming for a little while now, so not surprised.”
INDIANAPOLIS — One person is in critical condition following a shooting on Indy’s near east side.
According to the Indianapolis Metropolitan Police Department, around 8:10 p.m., officers were called to the 2000 block of East Washington Street on reports of a person shot.
Upon arrival, police located a 50-year-old man with injuries consistent with a gunshot wound.
He is currently reported to be in extremely critical condition.
No additional information has been made available at the time of this article’s publication.
This is a developing story; check back for updates.
The Indiana Utility Regulatory Commission on June 17 gave AES the nod to raise electricity rates enough to earn an additional $71 million each year, a decision that drew reproof from Indiana lawmakers who called it another blow to cost-burdened consumers.
The approved rate represents less than half of the $192 million increase that AES initially requested. It’s also less than the $91 million increase proposed in an October settlement agreement between AES, the city of Indianapolis and major electricity consumers like Kroger and Walmart.
But the new rate is still significantly more than what the Indiana Office of Utility Consumer Counselor, the state agency representing ratepayers in the case, recommended in September. The OUCC’s proposal would have capped AES’s annual operating revenue at $21 million less than the current level.
The rate increase authorizes AES to earn a total of nearly $2 billion each year, or an estimated $384 million in profit.
The higher base rate comes as a double whammy for Indianapolis-area households, who are already paying more for electricity this summer after AES temporarily raised rates to account for higher-than-anticipated fuel costs during last winter’s storms. The increase also arrives against the backdrop of inflation, which rose to a three-year high last month, and surging gas prices due to the war in Iran.
Gov. Mike Braun wrote in a Wednesday post to X that he was “deeply disappointed” by the IURC’s approval of the rate increase.
“Hoosiers have spent years tightening their belts and making tough financial decisions,” Braun wrote. “It’s time for utility companies to do the same.”
The IURC’s decision also drew fire from the other side of the aisle. In a June 17 news release, five Democrats representing Indianapolis in the state Senate – J.D. Ford, Andrea Hunley, La Keisha Jackson, Fady Qaddoura, and Greg Taylor – chastised Indiana’s Republican supermajority for failing to rein in rising utility costs.
“Hoosiers pay more. Monopoly utilities collect more. And the leaders in the super-majority who promise affordability over and over again show those are just empty words,” the news release said. “Instead, they continue to defend a system that takes more and more out of our paychecks.”
The consumer advocacy group Citizens Action Coalition also slammed the rate increase. Ben Inskeep, CAC’s program director, said the decision left him “less optimistic that this commission is willing to do things differently and to actually hold utilities accountable.”
He said the IURC should have penalized AES for issues that plagued customers after the utility updated its billing system in 2023, including duplicated withdrawals for the same monthly bill.
The rate increase will take effect in two phases, with rates going up in July 2026 and January 2027. AES officials anticipate the hikes “will be less than $5 per month per phase” for a household that uses 1,000 kilowatt hours of electricity per month, according to a Wednesday news release from the utility.
“The IURC’s decision reflects a thorough, transparent process and balances the need for continued investment in the electric system with a focus on customer affordability,” the news release stated.
Under a state law that Braun signed in February, AES cannot ask for another increase to its base rate until January 2030 — though electricity bills could still go up for other reasons, like the fuel adjustment charge hitting consumers this month.
Three members of the five-member IURC signed off on the rate increase: Andy Zay, David Veleta, and David Ziegner. Commissioner Bob Deig dissented. Commissioner Anthony Swinger recused himself from the decision because he worked on the AES rate case for the OUCC before he was appointed to the IURC by Braun in January.
“None of this was taken lightly,” Zay, the IURC’s chair, said at the Wednesday hearing, adding that the commission and its staff had carefully weighed concerns about affordability. The commissioners did not go into further detail at the hearing.
But the commission’s order shows some of the debates that played out during the rate case. One point of contention was AES’s authorized return on equity — that is, how much the utility can earn each year in profits. Other disputes hinged on how AES forecasts its operating expenses.
The OUCC accused AES of including more than 100 “phantom hires,” vacant positions it did not necessarily intend to fill in its calculations. Last year, AES said that the rising costs of vegetation management, or trimming trees around power lines, also drove the need to raise rates. The OUCC recommended keeping vegetation management costs flat.
One factor that’s not driving higher prices? Data centers.
AES does not currently provide service to any data centers and did not include them in its calculations, AES president Brandi Davis-Handy said in testimony before the IURC.
Tilly Robinson is a Pulliam fellow for the Indianapolis Star. She can be reached at tilly.robinson@indystar.com.
Interactive radar | Weather alerts by county
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(WRTV) — A tornado watch has been issued through 1 a.m. EDT Thursday for much of Indiana, the National Weather Service’s Storm Prediction Center said.
The watch area covers 47 of Indiana’s 92 counties, and includes Indianapolis and its surrounding counties.
Counties in the watch area are Bartholomew, Blackford, Boone, Brown, Carroll, Cass, Clay, Clinton, Daviess, Decatur, Delaware, Fountain, Grant, Greene, Hamilton, Hancock, Hendricks, Henry, Howard, Huntington, Jackson, Jay, Jennings, Johnson, Knox, Lawrence, Madison, Marion, Martin, Miami, Monroe, Montgomery, Morgan, Owen, Parke, Putnam, Randolph, Rush, Shelby, Sullivan, Tippecanoe, Tipton, Vermillion, Vigo, Wabash, Warren, and White.
WRTV Meteorologist Ryan Morse says Wednesday afternoon’s rain was the first of two rounds coming to the Hoosier state. A line of supercells were expected to form in Illinois and travel into central Indiana.
In neighboring Illinois, dozens of counties are under a tornado watch until 10 p.m. CDT/11 p.m. EST.
All threats of severe weather were on the table: damaging wind, strong tornadoes, large hail, and flooding.
Severe storms should exit Indiana in the early morning hours.
WISH-TV Meteorologist Keith Gibson says people should have multiple ways of getting alerts and have electronic devices fully charged in case they lose power.
The next chance for rain after these storms could be on Saturday.
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