INDYCAR Will Not Race in Argentina For 2024

The IndyCar Series has ruled out the possibility of holding an exhibition race in Argentina in 2024, as reported by Mark Miles, President and CEO of Penske Entertainment.

At the end of last year, there was significant interest in holding an event in South America. Miles had indicated in November that everything was going well for the organization of a non-championship race at the Autódromo Termas de Río Hondo, in the province of Santiago del Estero. This event was planned to take place this autumn, after the end of the championship season.

Ricardo Juncos, co-owner of Juncos Hollinger Racing, was working together with the local government as part of a promotional effort to bring IndyCar to his home country. Juncos had initially generated interest by organizing an exhibition event in November 2022 with his team and Agustín Canapino, a multiple champion of the country's touring car series, who at that time had not yet made the full switch to IndyCar.

Discussions progressed quickly, and Miles, along with other members of Penske's leadership, visited the venue last March to inspect the facilities. Despite initial enthusiasm, the decision was made to pause efforts until the conclusion of the presidential elections in mid-November, which resulted in the election of libertarian economist Javier Milei.

However, the economic crisis in Argentina, which led to government spending cuts under the new administration, has influenced the final decision. This situation also led MotoGP to cancel its round at the Autódromo Termas de Río Hondo scheduled for April, as the event largely depends on government funding.

During a media availability on Wednesday, which primarily focused on changes for the 2024 season finale involving Nashville, Miles provided the latest update on the possibility of bringing IndyCar to Argentina. "It's difficult to do business in Argentina at the moment, so I don't see it as a viable option for this year," said Miles. He added that Ricardo Juncos, who has been a key advocate and potential promoter of an event in Argentina, is currently assessing the situation and talking to elected officials and policymakers.