Monaco Increase Management, the company who represented Alex Palou confirmed on Saturday morning that they have terminated their agreement with the current NTT INDYCAR SERIES points leader.

The news comes after Palou announced on Friday that he will not join McLaren in 2024.

Monaco Increase Management is bitterly disappointed to learn about Alex Palou’s decision to break an existing agreement with McLaren for 2024 and beyond. Together, we had built a relationship that we thought went beyond any contractual obligation and culminated in winning the 2021 Indycar crown and tracing a path to F1 opportunities. Life goes on and we wish Alex all the best for his future achievements.

Palou will start today’s Gallagher Grand Prix of Indianapolis on the IMS road course from 9th place.

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