Power vs. Malukas: Penske’s Crucial Driver Dilemma for the 2026 Season

The current situation at Team Penske is a textbook example of how complex and layered driver development and contract planning can be in top-tier motorsport. At first glance, it might seem like a simple case of a young prospect challenging a veteran for a seat—but underneath that lies a strategic web of timing, performance evaluation, and long-term succession planning.

David Malukas‘ Position

David Malukas may be racing under the AJ Foyt Racing banner in 2025, but he’s widely believed to be a Penske-backed driver—technically signed with the powerhouse team but placed at Foyt as part of a broader development strategy. This arrangement allows Penske to monitor Malukas’ growth in real-time within a controlled technical environment. Foyt’s technical alliance with Penske means that the equipment, setup philosophies, and data feedback systems are closely aligned, allowing the team to gather highly relevant performance metrics on Malukas without the pressure of placing him directly into the Penske lineup just yet.

IndyCar insider Marshall Pruett first broke the news, reporting:

“Malukas is already signed with Penske. He’s racing under the Foyt umbrella, but it’s Penske equipment, Penske engineering — this is all part of a bigger plan.”

This strategy is smart: it offers Malukas the chance to grow in competitive, high-quality machinery, and it gives Penske flexibility without disrupting its current driver structure. It’s essentially a real-world audition for the big leagues—Malukas isn’t just racing for points, he’s racing for his future seat.

Will Power’s Situation

On the other side of the garage is Will Power, a living legend in the series with two championships and an Indy 500 win to his name. Power is in the final year of his contract, and while his performance in 2025 has been strong—marked by a string of top-10 finishes and a podium—his future isn’t guaranteed. The challenge isn’t necessarily about speed or ability; it’s about timing, succession, and long-term planning.

Penske’s management has remained publicly supportive of Power, with team owner Roger Penske himself suggesting that Power is “at the top of the list” for renewal. However, no new deal has been signed yet. The delay has raised eyebrows, especially given that contract negotiations were expected to be resolved earlier in the season. The fact that Power’s management is now being handled by A14 Management—Fernando Alonso’s agency—could indicate a more strategic and commercially driven approach to securing his next deal. It’s possible that both sides are playing the long game: Power wants to be fairly valued, and Penske wants to be absolutely certain about their future direction.

Strategic Considerations for Penske

From a team perspective, this is a high-stakes balancing act. On one hand, keeping Power means retaining a proven, experienced driver who knows how to win championships and has deep integration within the Penske system. On the other hand, integrating Malukas could be a move toward the team’s long-term future, injecting youth, energy, and perhaps even broader marketability as IndyCar seeks to appeal to younger audiences.

Penske’s partnership with AJ Foyt Racing gives them a rare luxury: they can evaluate Malukas in near-identical conditions to their main team, with minimal risk. It’s almost like running a test program within the season—except the results count toward the championship, and the pressure is real. If Malukas continues to impress, especially in high-profile events like the Indy 500 or pace-wise like in Detroit, Penske may feel confident in handing him the reins sooner rather than later.

Power: A Veteran With Unfinished Business

Meanwhile, Will Power, the 2014 and 2022 IndyCar champion, finds himself under increasing scrutiny. His contract runs out at the end of 2025, and despite a solid season — including six top-10 finishes and a podium in Detroit — there’s still no renewal in place.

Power hasn’t publicly expressed concern, but the speculation around his status became so intense that respected broadcaster Will Buxton felt the need to step in.

“Not an accurate quote,” Buxton clarified on X (formerly Twitter).
“I commented on the warmup show that this was the speculation, as it has been this weekend in Detroit… Power confirmed that he had not been told that [he was out].”

This public clarification suggests that while no decision has been made, Power is still very much in the frame — though the silence from Penske leadership about a formal extension is telling.

Roger Penske did offer a hint in May, saying:

“Will’s at the top of the list. He knows how to win, and we know what we have with him.”

But words aren’t contracts, and with Malukas impressing in Penske machinery week after week, the veteran knows his margin for error is razor thin.

The 2026 Dilemma

As the 2025 season progresses, Penske will need to decide whether to stick with the proven veteran or make the bold switch to a rising talent. Even if Malukas is officially signed to Penske, that doesn’t necessarily guarantee he’ll be in a full-time Penske car in 2026. The team could opt to give Power a one-year extension, continue Malukas at Foyt for further seasoning, or even consider rotating roles depending on performance trends. Flexibility remains the key theme.

Ultimately, the decision will come down to a combination of on-track results, contract negotiations behind closed doors, and long-term vision for the team’s future. One thing is clear: both drivers are in control of their own narratives right now—and the next few months will be decisive for them both.

written by Philipp Kraus / Media Credit: Penske Entertainment