Mark Miles, CEO of IndyCar parent company Hulman and Company has confirmed that telecommunications company Verizon will not renew their title sponsorship with the series at the end of 2018.

Verizon become the official title sponsor to the IndyCar Series in 2014, replacing apparel brand IZOD.

Miles has confirmed that IndyCar have already set up research groups to explore the value of the sport and to take that to potential new title sponsors.

Despite the announcement that they will no longer be title sponsor, Verizon will remain in IndyCar as they are continuing their partnership with Team Penske.

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