Colombian Gabby Chaves has confirmed that he working on putting a deal together to participate in the 101st running of the Indianapolis 500 presented by PennGrade Motor Oil in May.

Chaves who partnered with Juan Pablo Montoya at the 2017 Race of Champions in Miami last weekend failed to secure a full-time seat in the Verizon IndyCar Series for the 2017 season but intends to race at the 500.

Chaves, the 2015 Verizon IndyCar Series Rookie of the Year is believed to be in talks with former Verizon IndyCar Series team owner Larry Curry.

Curry is reportedly in talks with a number of sponsors and has already agreed a deal with Chevrolet to supply with team with engines for the month of May.

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