INDYCAR: Montoya takes Penske Indy deal

Juan Pablo Montoya will remain with Team Penske in 2017. At present, the veteran's deal is for just one event, the Indy 500, in a fifth Penske entry.

"To be honest it's my best opportunity to win Indy again and I know all the people and how things operate," Montoya told RACER. "There's a lot of uncertainty with other deals, and I'm not 25 anymore so I don't have time to develop cars."

Although he is wary of joining a still-maturing program, developing a sports car for Penske is still a possibility in the future. For now though, Montoya says that he is focusing on next May.

"Let's worry about Indy first and then we'll figure things out as they come," he said. "If Roger and Tim (Cindric) know I'm going to stay, then they can do some long-term planning. I know I can focus on Indy and do other things if they come along."

The ability to spend more time with his son Sebastian, a rising karting prospect, also proved to be a significant factor in his final choice.

"First of all, I had a blast being with Sebastian [in Europe]  and helping him and it definitely made a difference," said Montoya. "He's going to run here in the States at the beginning of the year and then we're going to Europe this summer to the highest level of karting, and I'm going to be with him. And I still have the best ride at Indianapolis."

After exiting the NASCAR Sprint Cup series in 2013, the two-time Indy 500 winner and 1999 CART IndyCar champion joined Team Penske in 2014, where he claimed five wins and a runner-up finish in the 2015 championship. Following a disappointing 2016 campaign the 41-year-old Colombian was replaced by Josef Newgarden as the full-time pilot of the No. 2 Chevy, and had been weighing his options in the paddock.

Despite holding talks with AJ Foyt Racing, Andretti Autosport, Chip Ganassi Racing, and Ed Carpenter Racing, among others, the 15-time IndyCar race winner was unable to secure a season-long opportunity, which led him back to sign for the reigning IndyCar champions in a reduced role.