ED’s note: Since Ganassi issued its release earlier today, Palou has responded with a series of tweets claiming that he ‘did not approve’ the release, and stating that he plans to align himself with McLaren after this season. Full story to follow.

Chip Ganassi Racing has confirmed it will retain reigning NTT IndyCar Series champion Alex Palou after exercising the option it holds on the Spaniard.

“Alex’s track record speaks for itself,” said Chip Ganassi, who confirmed his 2023 lineup in a recent interview with RACER. “He’s a proven champion and one of the most formidable drivers in the world. We are very excited to continue working together.”

After watching Palou receive significant interest earlier in the year from Arrow McLaren SP, CGR was expected to keep the 25-year-old off the market for next season, and beyond, through the options it holds on its championship frontrunner.

“It’s a great feeling knowing I’ll be back with Chip Ganassi Racing next season,” said Palou. “The team welcomed me with open arms from day one, and I’m excited to continue working with Chip, Mike Hull, the folks on the No. 10 NTT DATA car and everyone within the organization. The goals remain the same and we will continue to work relentlessly towards achieving them.”

Heading into Sunday’s Toronto race, Palou sits fourth in the standings, three spots behind teammate and championship leader Marcus Ericsson and two positions ahead of CGR’s Scott Dixon.