The NTT IndyCar Series has been attempting to arrange an exhibition race in Argentina following the conclusion of the upcoming 2024 season, but it appears the event is no longer going to happen.
Series officials have been working with Ricardo Juncos, the Argentinian co-owner of Juncos Hollinger Racing, and the Argentine government to make plans for the special event.
Arrangements appeared to be progressing smoothly, with comments as recently as December indicating the exhibition race was likely to happen. But a difficult economic situation in the country has led to the race being put on hold.
CEO of Penske Entertainment Mark Miles described the situation earlier in the week, confirming that it is no longer a viable option for this year.
“Observers have noticed that it’s difficult to do business right now in Argentina, so I don’t see it as a viable option for this year,” said Miles.
“I think everybody understands that Ricardo Juncos has been our strong advocate and prospective promoter if we could do an event in Argentina. He’s there now assessing the situation, talking to the elected officials and policymakers.
“It’s an ongoing conversation, but I don’t think it’s feasible for 2024.”
IndyCar had been pushing for the event in order to take advantage of a wave of popularity the series has seen in the South American country.
With Juncos Hollinger Racing and its Argentinian driver Agustin Canapino displaying healthy amounts of patriotism while racing in the United States, the demand for an in-person event is high.
The economic situation in the country is not favorable, however, with yearly inflation rates soaring over 250%. The political climate in the country is also thought to be part of the decision to hold off on plans to bring the American series to the southern hemisphere.
MotoGP recently cancelled this year’s trip to Argentina as well, which was originally scheduled to be held on April 3-5, after assurances could not be made that all the necessary support would be given.
IndyCar will still host one exhibition race this year, with the inaugural $1 million challenge being held at The Thermal Club on March 24.
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