Alex Palou’s management team has severed ties with the Chip Ganassi Racing driver.
As RACER revealed on Friday morning, Palou is attempting to stay with CGR, despite obligating himself to join Arrow McLaren in 2024.
Through the Monaco Increase Management firm, Palou orchestrated a revised contract with CGR that facilitated his ability to race for McLaren in 2024, but with Palou’s newfound intent to stay with CGR, Palou’s managers announced they will no longer support Palou as he steps into another contractual battle involving powerful racing teams.
“Monaco Increase Management is bitterly disappointed to learn about Alex Palou’s decision to break an existing agreement with McLaren for 2024 and beyond,” the company wrote. “Together, we had built a relationship that we thought went beyond any contractual obligation and culminated in winning the 2021 IndyCar crown and tracing a path to F1 opportunities.
“Life goes on and we wish Alex all the best for his future achievements.”