Dreyer& Reinbold Racing announced today that they have purchase one charter from Rahal Letterman Racing and will compete full time in the 2027 IndyCar Series. DRR has been an Indianapolis 500 only entry since 2013.

It had been the dream of late owner Dennis Reinbold to return to full-time status.

“I want to thank Bobby Rahal, Mike Lanigan, David Letterman, and (RLL president) Jay Frye for the way they approached this from our very first conversation,” Reinbold said in a news release. “They treated this as a partnership between two organizations that want to see each other succeed, and this announcement today reflects that.”

The first purchase of a charter, this one rumored to be $13 million, establishes relative values for other teams. A charter from Chip Ganassi racing or Team Penske could potentially be worth around $20 million or more.

RLL issued the following statement:

Now the question is who will drive for DRR and who is out at RLL? Graham Rahal and Louis Foster are signed for 2027 while rookie Mick Schumacher is a free agent. Conor Daly is considered the favorite for the DRR seat, but Schumacher said at Nashville that there is a “high possibility” that he returns next season.

A media availability with Dreyer & Reinbold will take place at 1 pm Eastern this afternoon. More on this story as it develops.