INDIANAPOLIS -- Meyer Shank Racing will be expanding again next season, adding Liberty Media as a partner.
On Friday, co-owner of Michael Shank announced the parent company of Formula One has made a minority equity investment in the Ohio-based team, which will help fund its IndyCar operations as well as its recently announced multiyear deal with the Acura DPi program.
“We have worked to build our IMSA and IndyCar racing programs step by step and this is another big progression for our organization to have Liberty Media make an equity investment in MSR,” Shank said. “The investment by Liberty Media will enable us to continue to build and develop our programs.”
A special message of THANKS from Mike Shank after a big week for the team. 🙏🏻 pic.twitter.com/bk0RaSDOS6
— Meyer Shank Racing (@MeyerShankRac) October 2, 2020
The deal came just hours before the IndyCar Series held the opener of the race weekend doubleheader on Indianapolis Motor Speedway’s 14-turn, 2.439-mile road course. England’s Jack Harvey, who drives the No. 60 Honda for Meyer Shank, qualified sixth.
Shank’s budding team has been steadily ramping up its operations since shifting its focus to sports cars and Indy cars. It won the 2019 IMSA team and driver titles and this is the first year it has fielded a full-time IndyCar team.
It plans to compete in the IMSA series and IndyCars again next season as well as teaming up with Acura for the progression to the DPI series beginning with the 2021 Rolex 24 at Daytona in January.
Shank says more information about its 2021 plans will be coming soon.
The 16-year-old team broke ground Tuesday on a new 43,000-square-foot shop in Pataskala, Ohio, that is within a mile of its current shop. The new facility is scheduled to be completed in mid-2021 and is dedicated to Shank’s late father, Al, whose initials will be above the front enrance.
“I wouldn’t be where I am today if it weren’t for my father,” continued Shank. “My dad taught me everything about racing, about mechanics, and even though I didn’t realize it at the time, about life. We lost him 31 years ago and I want to walk under the “AHS” initials every time I come into work.”
Today we broke ground on our new 43,000sq ft shop.
— Meyer Shank Racing (@MeyerShankRac) September 30, 2020
Thank you to everyone who came to celebrate today and show their support. 🙌🏻 pic.twitter.com/CSo8VLNoVn