Team Penske and Chip Ganassi Racing are dominating the early narrative leading into next Sunday’s 109th Running of the Indianapolis 500 presented by Gainbridge. Combined, they’ve won 25 Indy 500s, including the last three.

They’ve owned the speed charts this week, sweeping the top four spots Tuesday and Wednesday and going 1-2 on Thursday.

Alex Palou, who is 0-for-27 on ovals in his NTT INDYCAR SERIES career, was third fastest Tuesday, fastest Wednesday and sixth Thursday. He doesn’t believe, despite four wins in five races this season, that he should be the favorite.

“We’ve never won here,” Palou said. “I feel we could win, but I wouldn’t call ourselves the favorite. I think Josef (Newgarden) is the favorite.:

Newgarden, the two-time defending winner, was second, third and fastest in his No. 2 Shell V-Power NiTRO+ Team Penske Chevrolet during practice this week.

“The early signs of where we’re at, I think is great,” Newgarden said. “I think we’re in a really good window. My car feels fantastic.”

Andretti Global drivers believe they belong in the conversation. Colton Herta shrugged off Newgarden’s confidence.

“Good for him (Newgarden),” Herta said. “I don’t feel any sort of way from his comments. I think he’s just hyping himself up.”

Herta believes his No. 26 Gainbridge Honda is competitive but thinks his teammate Kyle Kirkwood looks the best. Kirkwood, driver of the No. 27 Siemens Honda, is the most vocal and confident.

“I think we’re really good,” Kirkwood said. “I think we’re either the best, or we’re very close to that. I don't see any other cars doing anything better than what we can do at this time. We're very happy with the race car. We're not really doing much to it at this time. We're just kind of balance-checking for track conditions.

“We put a massive effort in getting our speed back up for qualifying, but also for the race. Our no-tow pace has been phenomenal. We’re a pretty good chunk ahead of the rest of the field. We’re looking very positive at this time and very confident.”

Kirkwood was also asked about Newgarden’s confidence and if Newgarden should recognize him as a threat.

“He knows,” Kirkwood said.

Andretti Global Poised for Resurgence

Andretti Global appears poised for a potential resurgence in the “500” thanks to a focused effort to reclaim its past oval dominance. Once a powerhouse on the 2.5-mile oval, having won three out of four races from 2014-17 – the team has gone winless for the past seven Indy 500s, managing one top-five finish and leading a mere six laps in the last three editions.

Herta’s breakthrough oval win last September at Nashville – especially as the season finale – is a major milestone not just for him, but the team overall, validating the development work. Kirkwood also earning NTT P1 Award honors at Nashville and led the most laps, showing the speed is coming from across the garage, not just a single car.

“Got through the ‘500’ last year, and we thought we put a big enough effort in going into last year and we were probably the best Honda team, but we still needed a lot more,” Kirkwood said. “Penske really upped everyone's game last year, and this year we've come back with a lot more, and it's due to all of that. I think we've shown through some of the short ovals we showed at, I think we've brought our A-game.”

Marcus Ericsson struggled in his maiden “500” start with Andretti in 2024. He crashed in practice, nearly failed to earn a starting position and then, as a last-row starter, was collected in Tom Blomqvist’s accident in the first turn. He noticed the year-over-year difference in his No. 28 Allegra Honda.

“You can just feel the difference,” Ericsson said. “I think the team has stepped it up even more. They’ve put a ton of effort into preparing the cars for the ‘500,’ and that's been impressive to see all the effort has gone into it. If we can continue to improve, I think we should be in the mix.”

Castroneves Thinks Newgarden Can Three-Peat

Newgarden is the sixth driver to attempt to win three Indianapolis 500’s in a row, joining Wilbur Shaw (1939-40), Mauri Rose (1947-48), Bill Vukovich (1953-54), Al Unser (1970-71) and Helio Castroneves (2001-02).

Neither accomplished the rare feat.

Castroneves, the last to try, finished runner-up to teammate Gil de Ferran in 2003. He won three of his record-tying four “500” races with Team Penske and believes Newgarden has the pedigree to make history.

“No question,” Castroneves said. “Team Penske, there's a great potential, especially with Josef (Newgarden) the way he did it the last two years. He's in the hunt. He is another competitor that I know is going to be very, very tough to beat, and because I know the history of that team, and I know how much they want it. We’ve got to watch out for those guys.”

VeeKay’s Phone Buzzing More Lately

Rinus VeeKay is quietly putting together one of the more compelling underdog stories of the 2025 season.

Entering the “500” 10th in the NTT INDYCAR SERIES points – after being the final full-time driver signed, by Dale Coyne Racing after five seasons with Ed Carpenter Racing – is no small feat. It's a clear signal of both his resilience and adaptability, especially with limited preseason preparation and likely fewer resources than the sport's top-tier programs.

His early-season form – three top 10s in five races – suggests that he's found a groove with the leaner Coyne operation, possibly bringing out the best in his driving and leadership. Smaller teams often rely more heavily on a driver’s technical feedback and adaptability, and it seems VeeKay is thriving in that role.

“It (the season) exceeded my expectations,” VeeKay said. “We had very little time together being signed that late, and we've maximized them really well so far. It's been a really fun team to work with, definitely a bit smaller than I'm used to, but they get the job done. I mean, getting the biggest mover award, I’ve never seen a crew jumping around and singing and dancing.”

The timing of this resurgence couldn't be better. With his contract status looming and proven Indianapolis 500 speed — top-seven qualifier every year, three top-10s, and 65 laps led — he's a legitimate dark horse for victory in this year’s race and a high-value free agent for 2025.

“There’s been a bit of buzz,” VeeKay said. “I think like the hype around me now is like in 2021 after the (Sonsio) GP win here and the podium in Detroit. I think that kind of buzz is back for the first time. I’m back to where I was on that hype. I definitely feel like the highest-value driver that’s going to be that’s going to be out of a contract right now.”

That "2021 buzz" he mentioned is real. Back then, he looked like a future star. Now, he's reminding everyone why.

“As long as I can focus on what I have right now, if I focus on the moment and we have been doing what we’ve been doing, I’m sure my future will figure itself out, and we’ll get good opportunities,” he said.

Rasmussen Makes Contact in Turn 2

Christian Rasmussen had the first crash of practice week when he spun at the exit of Turn 2 and made slight rear contact with his No. 21 ECR Splenda Chevrolet with the Turn 2 SAFER Barrier.

“Understeer through Turn 2 all day, especially with the wind direction is,” Rasmussen said. “I was a little surprised by getting loose there. I just got loose in the middle of (Turn) 2 and just kind of locked the car up.

“Then, obviously brushed the wall with the right rear. It’s what happens. It’s obviously not where we want it to be, but I think we have fast cars around here, so it’s still a positive day. I got that out of the way, now we move on.”

The TV broadcast noticed Rasmussen was on Firestone Firehawk tires with more than 30 laps of running, which is likely longer than a stint will run during the race. The Danish driver, who had the eighth-fastest speed (222.816) Thursday, admitted that played a role in the incident.

“They were definitely pretty deep, just pushing too hard on them for how deep we were in the stint,” Rasmussen said. “Just trying to learn what the tire does.”

FOX Sports’ New Camera Useful For Drivers, Too

FOX Sports introduced the Driver’s Eye cameras that are placed in the right side of the foam in the drivers’ helmets. Herta used it last week in the Sonsio Grand Prix, although his rough performance of a 25th-place finish didn’t allow a lot of air time.

But Herta said drivers like the camera as a new tool to study what their competition is doing, too.

“You can learn how they use the battery (hybrid system), how they're deploying throughout the lap,” Herta said. “Just what's nice is just seeing their lines, in general, what they're using, if they're changing roll bars and whatnot.”

Odds and Ends

  • David Malukas showed up Thursday with fresh colors via a new sponsorship. AJ Foyt Racing announced that Clarience Technologies has signed as the primary marketing partner of Malukas’ No. 4 Chevrolet in the 109th Running of the Indianapolis 500 and the Chevrolet Detroit Grand Prix presented by Lear on June 1.
  • Pato O’Ward admitted his focus Thursday was the race setup because the conditions made it challenging to get a good read for qualifying setups. He wasn’t happy with how his car handled the first two days of practice, so his No. 5 Arrow McLaren Chevrolet team made changes between Wednesday and Thursday, and they paid off. O’Ward was fourth overall (224.467) on the speed chart.
  • Santino Ferrucci is battling a tough-handling No. 14 Homes For Our Troops Chevrolet for AJ Foyt Racing this week. He turned 21 laps on Opening Day before parking it to go back to last year’s setup sheet. On Wednesday, 26 more laps led the team down the wrong path. After seven laps Thursday, Ferrucci parked the car while his team used its alliance with Team Penske for help. Ferrucci went back out and said the car’s balance was improved.