De Ferran, Luczo Dragon Racing merge

Luczo Dragon Racing and de Ferran Motorsports announced a merger Tuesday, creating an IndyCar team that will leverage science and technology as the foundation for winning.

The new venture, headed by 2003 Indy 500 winner and two-time IndyCar champion Gil de Ferran, Jay Penske, youngest son of Roger Penske, and Steve Luczo, Chairman and CEO of Segate Technologies, will be focused on creating one of the most advanced racing operations in the country.

"Gil and I have known each other for 10 years - when he started racing for my father," Penske said. "Gil has always had ambitions outside of the car and Steve and I have been talking to him about working together for some time. Luczo Dragon Racing and de Ferran Motorsports will live together. We all share the same vision for the future in this industry and with our combined skills we are confident that we can make a real success story of this new venture. We have the resources and the knowledge to build a great motorsport organization together."