Alex Palou Signs Multi-Year Contract Extension With Chip Ganassi Racing

Since joining Chip Ganassi Racing six seasons ago, Spanish driver Àlex Palou has shown to be a generational talent who is quickly working his way through INDYCAR’S record books.

For that, Palou has earned a multi-year contract extension on his current deal that runs through the 2027 season. The extension was finalized following this week’s two-day Indianapolis 500 test. Ganassi never publicly discloses contract terms.

The reward capped a celebratory week for Palou, who drove into Indianapolis Motor Speedway as the defending Indy 500 winner for testing and saw a larger-than-life banner of himself chugging the traditional winner’s milk. It’s the main banner as you enter the speedway — key placement he’d seen reserved for rival drivers the previous six years.

“I took a picture when I was driving by and sent it to my parents,” Palou said.

Palou has won four INDYCAR championships in five years, including the last three consecutive titles. He won eight times last season, including the 500, as he’s blossomed in INDYCAR since joining Ganassi in 2021.

Ahead of the Long Beach Grand Prix two weeks ago, former Indy 500 winner Alexander Rossi was asked if anything had surprised him through the first quarter of the season. His response was immediate: “Yeah, that Alex has only won two races. And isn’t the points leader.”

Palou responded by winning Long Beach to give him three wins through five races this year and reclaim the top spot in the championship standings.

“It’s incredible, actually amazing,” said rival driver Will Power, a two-time INDYCAR champion and Indianapolis 500 winner. “It’s something I’ve been thinking about the last week or so because, once again, he’s gone out and won three out of five races. I mean [Kyle] Kirkwood’s average finish is like three-point-something, and he’s not leading the championship, which is insane.

“So it’s something I’m absolutely, like, how is he doing that week in, week out? Well, it’s one, he’s qualifying well. Two is he executes in the race and three is the pit stops, you know, top-notch, there’s no mistakes in there. And he’s fast. So that’s what it takes when you’re driving out there.”

His 22 career victories through 103 starts ranks fifth in 121 years of INDYCAR history. Sebastien Bourdais won 31 times in that span in the diluted Champ Car era; A.J. Foyt won 30, Mario Andretti 27 and Ralph DePalma 26.

Palou’s four titles already match Andretti and Bourdais, and in the post-World War II era, Palou’s 61 top-five finishes in his 103 starts trails only Andretti, who had 64.

Dario Franchitti, a four-time INDYCAR champion and three-time Indy 500 winner, is now a driver coach and consultant for Ganassi. He believes there hasn’t been a driver this dominant in the series since Alex Zanardi, who won 12 races and back-to-back titles for Ganassi in 1997 and 1998.

“Winning one championship is one thing, but then the subsequent ones, it gets progressively more difficult,” Franchitti said. “Just watching what he’s done, and at this early stage in his career, it’s something very special. And the level of domination, that’s the icing on the cake.

“You feel sorry for the others. I’ve said to him a number of times, ‘I would have hated racing against you.’ He is the complete package.”

At Long Beach last month, rival driver Pato O’Ward conceded his McLaren team has not closed the gap at all on Palou and the No. 10 Ganassi team.

“The guy goes into every weekend being able to win. Honestly, it’s impressive to see,” O’Ward said. “The gap is as big as it’s been, and we’re working hard to try to be at the level he is of being able to win every race, but we don’t have that.”

Connor Daly believes the domination is a combination of Palou’s flawless performances and the strength of his race team.

“Alex is very good, but that team, when they’re called upon, they don’t make mistakes and that is what is so important about this game,” Daly said. “Everything has to be, everyone has to be on the same page, and he is, like without a doubt, one of the best drivers in the world right now.”

Reporting by The Associated Press.