Meyer Shank Racing (MSR) co-owner Michael Shank has revealed that the team’s operational costs skyrocketed by more than 40% in 2024, creating new financial challenges for the organization. The increase in expenses has impacted both their IndyCar and IMSA programs, forcing the team to adjust its approach to remain competitive.
Rising Costs Across the Board
In a recent interview, Shank pointed to several factors contributing to the cost surge, including rising prices for parts, increased travel expenses, and overall inflation. Additionally, supply chain issues have continued to affect the motorsports industry, leading to higher costs for critical components.
“The cost of doing business in motorsports has gone through the roof,” Shank explained. “We’re seeing price increases everywhere—from the cars themselves to logistics and even salaries. It’s a significant challenge, but we’re working through it.”
Impact on Meyer Shank Racing
Meyer Shank Racing, known for its success in both IndyCar and IMSA, has been actively working to manage these financial pressures while maintaining its competitive edge. In 2024, the team continued fielding an IndyCar entry for Felix Rosenqvist and an Acura GTP effort in the IMSA WeatherTech SportsCar Championship.
While Shank didn’t specify whether the cost increases could alter MSR’s long-term plans, he acknowledged that securing sponsorship and funding is more important than ever.
“This is where strong partnerships come in,” Shank said. “We have great relationships with our sponsors and manufacturers, and that’s what helps us push forward despite these challenges.”
Broader Industry Trends
Shank’s comments reflect a larger trend in motorsports, as teams across various series have reported significant cost increases in recent years. From NASCAR to Formula 1, organizations are dealing with inflation-driven expenses, along with heightened competition for sponsorship dollars.
Despite the challenges, Meyer Shank Racing remains committed to delivering strong performances on the track. With continued manufacturer backing from Acura in IMSA and strategic moves in IndyCar, the team is positioning itself for long-term success—even in the face of rising costs.
As the 2024 season unfolds, MSR will continue to adapt to the evolving financial landscape, ensuring that it remains a competitive force in both disciplines of racing.
