Why IndyCar Is Growing Again: Mike Shank, Honda, and the Series' Quiet Momentum

It’s no revelation that motorsports as a collective entertainment entity has been experiencing a bit of a boon during the past several years. The easy answer is that Netflix’s Drive to Survive Formula 1 “reality” show was the most obvious catalyst for this, quickly pouring gallons of fuel on what began as more of a curious spark that subsequently propelled F1’s breakthrough in the U.S. market. But as someone who’s followed various racing series for more than 30 years now, with a decade spent as a full-time motorsports editor and journalist, I’ve repeatedly experienced things I not long ago never would have imagined when it comes to F1.

It’s mostly arrived in the form of I don’t know how many people on the street striking up a conversation with me about the sport simply because I happened to be wearing a random F1-related hat or T-shirt. Even immediate family members who never took any interest or cared about it despite seeing me watch it and hearing me talk about it and even making it a big part of my job are suddenly texting me ahead of every race asking for thoughts and predictions. I’m not sure if this will ever stop feeling at least a little bizarre. But since it’s happening, I’ve also taken the opportunity to tell these people, “If you like F1, it’s time for you to start watching IndyCar.”

Quiet but Real Momentum

The maybe even more bizarre thing is that a fair number of folks are already doing so; you just don’t realize it. Perhaps it’s because IndyCar fans have traditionally been concentrated in the Midwest, whereas F1’s surge has more of a foothold in major East and West Coast regions. But for all of F1’s hype in America—three races on U.S. soil, its drivers and cars appearing regularly in national advertising and social media campaigns, and the 2025 F1 movie—the races reportedly averaged something like 1.3 million viewers last year during ESPN’s final season as the series’ broadcast partner. Apple TV, which took over the rights beginning this year, hasn’t released specific figures but says it has seen another viewership surge. That bodes well for F1’s American future, but the NTT IndyCar Series’ overall numbers stack up strongly in comparison. (For context, the NASCAR Cup Series averages approximately 2.8 million per race.)

Likely unbeknownst and unnoticed outside of diehard IndyCar fans and series stakeholders—and mostly ignored by mainstream media outlets that have gravitated to F1’s American invasion—IndyCar last week reported that its first 10 races of 2026 on Fox have averaged 2,033,000 watchers, a 14 percent jump over 2025. The most recent race, a classic “Who’s gonna win this?” lottery of a contest at the spectacular Road America natural-terrain road course in Elkhart Lake, Wisconsin, averaged 1,803,000 viewers. That’s a beyond-staggering 131 percent increase versus the same race last season, with this year’s audience peaking at 2,943,000. They weren’t disappointed by any lack of drama, either, with Arrow McLaren’s Christian Lundgaard driving all the way through the field from last place to claim victory.

Christian Lundgaard at the XPEL Grand Prix at Road America. Credit: Joe Skibinski

That “Who’s gonna win?” uncertainty has long been an IndyCar hallmark, and it’s the first thing I aim to explain to people when telling them why they should tune in. An IndyCar race’s outcome is generally far more difficult to predict than that of an F1 grand prix. Sure, Chip Ganassi Racing Honda driver Alex Palou, the reigning and four-time champion, has dominated the series for several years now to a rarely seen degree, but that still doesn’t lead to quite the same processional inevitability that often—and definitely historically—accompanies F1, and I say that as a person who follows and appreciates F1 as much as I do IndyCar. In other words, none of the above is intended as an indictment of the former; it’s merely an attempt to open more folks’ eyes to the latter because, if you’ve discovered you like racing via F1, I genuinely believe you’re depriving yourself of loads of additional entertainment and excitement by ignoring IndyCar.

Never Straightforward

The quality of IndyCar’s racing action has rarely been the subject of much debate, with no shortage of passes and passing attempts (some rather poorly conceived but always attention-grabbing), at times hilarious driver “feuds” and reactions, race-altering fuel- and tire-strategy gambles, and an overall fun, open-to-all atmosphere. Rather, it’s been the off-track goings-on that have hindered the series’ health over the years.

There isn’t enough space here to sufficiently recap the sport’s politically charged history for new fans unaware of it, including the infamous CART (Champ Car)/Indy Racing League sanctioning-body civil war, known as “The Split,” that ravaged the series and its viewership from their heyday in the late ’90s well into the 2010s and beyond. (There are books devoted to the subject, or just Google it.) Further disagreements about budgets and rules, the withdrawal of OEM automotive partners, and poorly supported TV deals have played a role, too. But going by the latest numbers, something has changed, and the broadcast package is a big part of it.

A Team Owner’s View

“Sixteen to 24 months ago, I was seriously concerned about where IndyCar was; I think we all were,” Michael Shank said. He’s co-owner of the Honda-powered Meyer Shank Racing team that won May’s Indianapolis 500 with Felix Rosenqvist, who beat Team Penske Chevrolet driver David Malukas to the finish line by just 0.023 second in a thrilling, closest-ever-margin last-lap shootout.

Felix Rosenqvist and David Malukas at the finish of the 110th running of the Indianapolis 500. Credit: Josh Hernandez

“Several factors have played into what we’re seeing today, and they all affect each other and are because of each other,” Shank said. “No. 1, the Murdoch family and Fox bought 1/3 of the series [a year ago], including the Indianapolis Motor Speedway. Now we really can see where [Fox Sports CEO] Eric Shanks and the Murdoch family are starting to full court press this thing at a different level.”

To Shank’s point, Fox’s IndyCar coverage has drawn praise this season. In its second year as broadcaster, it’s made a commitment to delivering innovative solutions, including high-resolution onboard camera angles that provide views of the drivers and cars (and their steering wheel displays/data) that have surpassed what even F1 delivers. Just as impactful, there is the informative, often witty, and above all entertaining play-by-play Fox TV broadcast crew of Townsend Bell, James Hinchcliffe, and Will Buxton, who usually make sense of everything in often chaotic circumstances that casual fans might find difficult to follow.

“And there’s so many other subtle things we don’t even know about,” Shank continued. “How influential were [the new media partners/investors] in getting the Washington, D.C. race, as an example?” IndyCar will compete on D.C.’s streets for the first time on August 22–23.

There was also the well-received inaugural race in mid March around the Dallas Cowboys’ AT&T Stadium in Arlington, Texas.

“It’s just creative new thinking that I think Eric is just a major, major force behind, and we’re lucky to have him and the Fox family involved,” Shank said.

Equally Important Business

Moving to a team franchise model a couple of years ago has been another notable driver of change in the series; it’s a business model intended to make IndyCar squads more financially viable and stable for their owners—a longtime bone of contention.

Felix Rosenqvist and Mike and Mary Beth Shank the day after the 110th running of the Indianapolis 500. Credit: Chris Jones

“From the owners’ standpoint, for me specifically, this is all I do for a living; this is all I’ve got,” Shank said. “It has really solidified making a living in IndyCar. And what I mean by that is, it’s still hard to raise the money we need to race [here], to break even at best. It’s really, really difficult, I’m here to tell you. But at least with the underlying [team] valuations going up and up and up, it makes you feel a little bit better about it. So, the 10 of us that own teams, the 10 groups that own teams, just have a swell about us. And I think that’s a really good thing.”

Honda’s Critical Decision

When Honda and Chevrolet, who have been IndyCar’s sole engine suppliers since 2013 (after a brief, ill-fated Lotus effort in 2012), signed multiyear deals this past February to continue in IndyCar, it alleviated several years of concern that the Japan-based company might leave the series due to concerns about high costs and, it logically follows, what was then a smaller audience averaging around 1.3 million viewers.

Despite Chevy never wavering in its commitment to the series and saying it would supply the entire field with engines, if necessary, such a potential outcome would have been beyond a bad look for IndyCar and made its constituents feel rooted in a culture of struggle; Honda has been part of top-level American open-wheel racing since 1994. Notably, as part of the agreement, both Honda and Chevy will receive single-car charters of their own at no cost, beginning in the 2028 season when a new, more powerful 2.4-liter hybridized twin-turbo V-6 engine formula arrives along with an all-new Dallara chassis.

Talking about the decision to re-up with the series and why racing matters to the company, Honda Racing Corporation USA (HRC US) president David Salters backed up Shank’s thoughts and added some additional ones from the manufacturer’s viewpoint.

“We love IndyCar, and we’ve been doing this for more than 30 years,” Salters said. “So we have a huge amount of history [here]. It was a pretty easy decision. Also, thank you to IndyCar and thank you to Fox because IndyCar is really on the up. Everyone can see the TV figures; everyone can see the energy. So [it was a] pretty straightforward decision.

“But we always need to evaluate these things. We need to justify our existence. We need to think if it’s the right fit for Honda, as always, but again, thank you to IndyCar. Thank you to Fox and the general level of competition. What [does Honda] do it for? It helps us develop our people, our tech.

Barry Wanser and David Salters at the Firestone Grand Prix of St. Petersburg. Credit: Joe Skibinski

“Also, things can change a bit. We [will] get to run [our own] car [due to the charter acquisition]. You can see what we’ve done in [winning races and championships in the IMSA WeatherTech SportsCar Championship with Acura]. That’s been brilliant for us. It helps develop our people. It gets us a bit quicker and more reactive and all that sort of stuff. [We] take on a new dimension [here in 2028] when we’re also engineering a car [ourselves during races], so then that expands what we do and gives our people opportunities, so even better. ... And then for the new car, it will evolve to get more powerful and lighter. Racing’s good at making things smaller and lighter and putting it in places it doesn’t want to fit. That’s what racing’s actually for, so let’s use it for [achieving] smaller, lighter, more powerful, [in a] more arduous environment.

“ ... [For example, the hybrid powertrain tech], I also think the point of racing is you try different things, right? ... How do we take it a step forward? How can it help the performance of the car? How do we challenge our people? That’s why we’re in it. How can we do something different?”

Marcus Armstrong and team at the Indianapolis 500. Credit: Travis Hinkle

Chevy hasn’t announced its plans for its charter entry, but Meyer Shank Racing will be Honda’s partner for its car, presumably with more of the Acura branding seen recently on Rosenqvist’s entry in April’s Grand Prix of Long Beach and on the Indy 500 car of teammate Marcus Armstrong, especially now that financial issues affecting Honda as a whole led to it electing to withdraw Acura from IMSA GTP competition with MSR at the conclusion of the 2026 season. Armstrong’s car will feature Acura branding once more this season, at this weekend’s Mid-Ohio event.

Coming Full Circle

Put the business considerations aside—which is impossible to actually do, but you get the point—and Shank, like all IndyCar supporters, circles back to the strong on-track product. No, it’s not perfect in terms of hardware, as both Honda- and Chevrolet-powered teams have experienced annoying and aggravating reliability issues with the spec hybrid system that has irritated some drivers who have described it as something “we didn’t want” and that “100 percent of drivers” would get rid of if given the option.

Meanwhile, the Dallara-built chassis all teams use is in its 15th season, a Cretaceous amount of time in race car terms. As Salters alluded to, there’s an all-new car slated to arrive for 2028, and it’s unfortunate it hasn’t come sooner, if only because the existing model isn’t one of the world’s best-looking, and lap-time performance could use a boost. The new version aims to address those criticisms, but it has yet to be shown publicly. People who have seen it call it “evolution more than revolution,” with perhaps a 75-pound weight reduction and at least a few F1-ish styling cues and a better-integrated aeroscreen surrounding the cockpit.

Regardless, “We still are managing to have mostly very, very good races, very close, a lot of action-packed, a lot of personalities coming out,” Shank said. “All of that is getting stronger. And so that feeds the timeline a little bit, I think, on why [IndyCar has] the momentum it has. ... [Combine that with] Fox, and creating an environment where team owners potentially have an option to get their investment back later someday. ... We have to move on from the old days and old ways. We have to. We have to make progress. And progress is moving forward, and it’s not always going to be fun. But in my opinion, we needed something like this to jolt us awake a little bit, shake us a little bit. And we’re not done being shook, by the way. We’ve got to continue to drive forward and try to get that audience [to keep growing inside and outside that traditionally heavy Midwestern core], get that demographic down younger, and get people more involved, whatever that takes.”

Alex Palou at the XPEL Grand Prix at Road America. Credit: Chris Jones

One up-and-running way the series is trying to do that is by introducing its stars to fans through All In: IndyCar, a Drive to Survive–like docuseries profiling drivers and teams that’s available to watch on the IndyCar on Fox YouTube channel, Fox Sports TV, and Amazon Prime Video. As for the next round of live racing, the Honda Indy 200 at Mid-Ohio airs on Fox on Sunday, July 5, at 12:30 p.m. Eastern, with practice and qualifying occurring on Friday and Saturday and airing across FS2 and FS1, and all on-track sessions also streaming live on Fox One. If you haven’t already been watching IndyCar, it’s a perfect time to start.

Photography by Penske Entertainment: Joe Skibinski, Josh Hernandez, Chris Jones, Travis Hinkle