Mark Miles, president of Penske Entertainment Corporation the owner of the NTT IndyCar Series and Indianapolis Motor Speedway has confirmed that he held talks with Ferrari last year.

Reports from the US on Thursday evening state that Miles visited Ferrari while in Italy for an event with Dallara, the chassis builder to the NTT IndyCar Series.

The news comes as Ferrari team principal Mattia Binotto confirmed this week that the team would consider entering the NTT IndyCar Series when Formula One bring in their budget cap in 2021.

Miles confirmed that although talks took place nothing has been agreed at this stage between Ferrari and the NTT IndyCar Series.

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