IndyCar “in good shape” to run exhibition race in Argentina for 2024

Although it wasn’t included when the 2024 schedule was released in September, Mark Miles, president and CEO of Penske Entertainment, mentioned an event in Argentina was still being discussed and evaluated.

North America’s premier open-wheel championship hasn’t had an event outside its continental borders since São Paulo in 2013. Additionally, the series’ last event in Argentina took place in 1971 in Rafaela, Santa Fe province.

Now, though, both of those streaks could be coming to an end as IndyCar gets closer to a long-awaited return.

“Well, it's all in good shape,” Miles told Motorsport.com. “Their presidential election, the runoff, is Sunday. From our perspective, promoter's understanding, the results of the election shouldn't be good or bad determinative as to whether or not we in fact can pull this off.

“We did, however, want to just not hit pause because the work is being done, but get through the presidential election and then see if we can wrap things up, I think we've said for a while now, probably in January.”

The plan remains in place to keep the event as a non-points round at the conclusion of the season.

“Yes, it would be in early October,” Miles said. “It would be a post-season, post championship event.

“We know the facilities. We know the public entities that would be supporting it. We know the team that would be assembled to promote it. They've got a great track record, especially, for example, with MotoGP. I think it will be a very, very stellar, very robust event for us if we do it.”

All signs point to the venue being Autódromo Termas de Rio Hondo, in the province of Santiago del Estero. Dorna Sports, the organizer and commercial rights holder of MotoGP, worked with OSD Group on a recent extension that runs at the circuit through 2025.

However, it is understood that OSD Group is not affiliated as a promoter with IndyCar’s looming return. Instead, the local government in Santiago, as owners of the circuit, are involved and collaborating with a private group that includes Ricardo Juncos, co-owner of Juncos Hollinger Racing.

Juncos Hollinger Racing held a successful exhibition in Termas last November with Argentine and multi-time touring car champion Agustin Canapino, who drove one of its Indy cars. Canapino is fresh off finishing runner-up for 2023 top rookie honors and is already confirmed for next season. While his involvement helps as a fan favorite of the country, it wasn’t a crucial factor in IndyCar’s presence in Argentina.

“For sure, it's really important and will provide that much more excitement if we do the event for Argentine fans,” Miles said.

“I think that his joining the series helped public officials and local officials, just reminding them about IndyCar. But this was way far along before he was rejoining for next year. I think his coming to the series was helpful and his staying in the series will be very helpful in terms of the excitement when we run, but it really wasn't the extension of his agreement that was pivotal.”

One of the other unique factors in the equation is IndyCar’s television deal with NBC Sports that is set to expire at the end of 2024. Given the current timeline, NBC would have the rights to air a race in Argentina on any of its platforms that extend to USA, Peacock or the main network. Should an extension not be reached, though, a transition to any potential new partner isn’t out of the question.

“Our agreement goes through calendar year '23,” Miles said. “Unless they didn't extend, we don't go forward with NBC and we have a new partner, then maybe there could be a discussion about a transition. But my assumption would be that, in any case, it would be NBC.”