PREMA undergoes ownership shake-up; clock ticking on search for new backers

PREMA Racing, the parent team to the PREMA Racing IndyCar Series program that debuted in 2025, has undergone a major leadership change as co-founder Angelo Rosin, his son Rene, and Angelina Ertsou, Rene Rosin’s partner, left the Italian firm on Monday.

Although the circumstances that led to the wholesale departure of PREMA’s day-to-day management group are unknown, RACER has confirmed their exit through numerous sources. The change is expected to have a considerable effect across its multitude of engagements in racing series that launch their seasons in the coming months.

PREMA was purchased earlier in the decade by the DC Racing Solutions firm established by Deborah Mayer and Claudio Schiavoni, who took a controlling interest in the vast PREMA business that spans international junior open-wheel racing from grassroots series to the highest level in the FIA Formula 2 championship.

DCRS has also made use of PREMA behind the scenes in sports car endurance racing and branched out into IndyCar – its first foray with a major North American program of its own – under the leadership of PREMA Racing IndyCar CEO Piers Phillips, who built a state-of-the-art shop to field the two-car Chevrolet-powered team from Indiana.

The sudden and surprising absence of the Rosins and Ertsou, however, should not hinder the ongoing efforts by Phillips to find new funding for the IndyCar team to continue into its second season.

PREMA’s IndyCar program has been in a state of flux for the better part of six months as the team, which made use of PREMA veterans Callum Ilott and Robert Shwartzman as its drivers and scored a hugely popular pole position at the Indianapolis 500, endured financial hardships during its opening IndyCar campaign.

Rumors of an alleged funding freeze by DCRS, which bankrolled the IndyCar team’s formation and operating budget, surrounded the program for the first time in May and by the end of summer, sources within the team acknowledged the need to find a new investor for the team to return in 2026.

Efforts to infuse the team with new funding have taken place since the end of season, and while it was believed the initiative focused on keeping the team under the PREMA banner, multiple sources have told RACER of a desire to find a new owner that would allow the team to continue as wholly independent program with no affiliation to PREMA. It’s believed DCRS would support the sale; a call to Phillips on Tuesday to discuss the matter went unreturned.

RACER is aware of one or more interested parties who have inquired about buying the team, and while rumors of a sale have circulated this week, two of the supposed high-profile buyers have been ruled out, but talks are said to be ongoing with potential candidates.

The most pressing matter facing Phillips is the approaching IndyCar season, which has two major tests in February ahead of the first race set for the weekend of Feb. 27-March 1 in St. Petersburg, Florida.

Although Ilott and Shwartzman are known to be under contract and could continue driving the Nos. 38 and 83 Chevys on short notice, a looming deadline to secure season-long engine and tire supplies for both cars is understood to be the most critical juncture on PREMA’s horizon.

Using previous timelines as a guide, both Chevrolet and Honda have drawn a line at the end of January for full-season teams to execute supply contracts – at a series-capped sum of $1.45 million per car in 2026 – with some degree of significant payment attached in order for their 2.2-liter twin-turbo V6s to be made available.

Provided the end-of-January timing remains unchanged, it would give PREMA approximately two weeks to commit millions for engines and make another seven-figure outlay to secure Firestone tires for the 17-race championship.

Adding to the pressure, other Chevy-powered teams are known to covet the engines that have been earmarked for PREMA. Those engines could be deployed with extra entries at the Indy 500, or for teams to use at other races if PREMA’s cars do not take the 26th and 27th spots in field. IndyCar limits its races to 27 cars, with exception of the 33 starters for the Indy 500, and would have two open grid positions to fill if PREMA does not resolve its funding and/or ownership matters before the series’ engine and tire vendors close their books for the year.