INDYCAR: Schmidt working on third car for 2017

Sam Schmidt and Ric Peterson have seen their two-car IndyCar team go from strength to strength in recent years, and if their current plans come to fruition, a third car could be added to the Honda-powered program.

An evolving relationship with ARROW Electronics, the sponsor of James Hinchcliffe's No. 5 entry, and an ongoing relationship with SMP Racing and its driver Mikhail Aleshin should see SPM return next season with the same lineup.

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A possible expansion on the ARROW side, either with another car carrying its branding, or representing one of its affiliates, is said to be a possibility next year, and with a number of young drivers searching for competitive seats to acquire, a third SPM Honda would be a valuable addition to the grid.

"We are right on plan there with Arrow," Schmidt told RACER. "We started the program three years ago and it has been growing every year. We have always had the ambition to have a second technology industry-based car, but we are not quite there with the budget to be able to do that. We are working on it as we speak."

2016 marks the first season SPM has been able to fund both entries with no dramas, shortages or interruptions, and with a few too many seasons of the second car struggling to run with a complete budget, Schmidt says he won't pull the trigger on a third car without solid backing.

"I learned my lesson when I added a second car four years ago," he said. "We added it with half budget and it didn't work out very well, so we are not going to do that again. I would only add a third if it was fully financed, we would get the right people, the right equipment and be properly prepared. I'm not sure if we are going to have the support to do that next year, although we're trying, or if it would be for 2018."

With the season days away from being finished, Schmidt took stock of what he has with ARROW and the annual challenge to introduce more corporate partners to solidify the team's future.

"It is full steam ahead and it is all good with ARROW," he said. "They're getting a substantial return on their investment. Everybody at the company's happy. A lot of things we are doing outside as well as inside provide value; it's the race team, a comprehensive promotions deal that includes the SAM Corvette (pictured), and a lot of off-track activation and events. It's more than just the on-track part.

"All that being said, it's also the toughest thing I've ever done in my life. Going back 20 years to try and find my own budget to drive. And then subsequently put teams together in IndyCar and then Indy Lights, it's not easy, but we have good partners making our team stronger. Honestly, if I wouldn't have started driving the [ARROW-outfitted SAM] Corvette and building upon that, and getting some commercial traction in the technology industry, I don't know where we would be right now."