Malukas replaces Power at Penske in multi-year IndyCar deal

Credit: Joe Skibinski

David Malukas has joined Team Penske from AJ Foyt Racing on a multi-year deal, beginning in 2026.

The 23-year-old Chicago native will pilot the No.12 entry recently vacated by two-time series champion Will Power, who departed Penske for Andretti Global at the end of his contract after 17 years with the team. Verizon will remain the primary partner.

“Racing for Team Penske is the goal for every young racecar driver and I am honored to be one that gets to live out that dream,” Malukas said. “Will Power is one of the legends of our sport and the No. 12 Verizon Chevrolet is one of the most-recognised cars on the grid. 

“These are big shoes to fill but I look at it as an opportunity because I know that it is one of the best teams in the paddock.”

Graduating from Indy Lights ahead of the 2022 season, Malukas spent his first two seasons in IndyCar with Dale Coyne Racing, finishing 16th and 17th in points. He emerged as a particularly skilled oval driver, achieving successive podiums at World Wide Technology Raceway. 

He earned a drive with Arrow McLaren for 2024 but suffered a pre-season wrist injury in a mountain bike accident, which meant he was released before racing for the team. He returned in June to race the final 10 rounds with Meyer Shank Racing (MSR).

Having impressed for MSR, Malukas signed for Foyt last off-season in a deal widely believed to have been funded by Penske, who have had a technical alliance with Foyt since 2024. His 2025 season was headlined by a runner-up finish in the Indianapolis 500, with only five top-10 race results but 12 top-12 starts and nine top-seven qualifying results.

Credit: Matt Fraver

Malukas ultimately ended the season a career-best 11th in the standings. Since 2002, the only Foyt driver to better this result was Santino Ferrucci with ninth in 2024.

While race-day execution has wavered, Malukas’ pure pace has been clear. And as a result, one of IndyCar’s most prestigious teams have decided he is ready for the step up in 2026 in place of Power, who leaves the team as their winningest driver in history.

“We are excited to add David Malukas as the next driver of the No. 12 Verizon Chevrolet,” said team owner Roger Penske. “We feel that Team Penske will provide David everything needed to take the next step in his career and we are confident that he will continue the great legacy of the Verizon Chevrolet.”

Malukas is the first new addition to the team’s lineup since Scott McLaughlin came onboard on a full-time basis in 2021.

Given his tender age, he is a drastically less-proven quantity than Power, whose 71 pole positions make him IndyCar’s best-ever qualifier and 45 victories place him fourth on the all-time wins list. Three full seasons into his IndyCar career, Malukas is yet to record his first career win and has three podiums to his name compared to Power’s career total of 108.

Credit: Travis Hinkle

The team did eventually offer Power a deal for 2026 after an apparent stalemate, by which point he had made the decision to move on and pursue a multi-year opportunity at Andretti. This has led to them turning to their young prodigy.

Malukas steps into a Penske team reeling from their worst season since 1999. Power was their best-placed driver in the standings in ninth - the lowest Penske’s best-placed driver has been in 26 years - with McLaughlin 10th and Newgarden 12th. It is the first time since 2007 that the team did not have at least one driver inside the top three in points.

Malukas completes the team’s three-car lineup alongside Newgarden and McLaughlin.