AJ Foyt Racing Shocks IndyCar World by Signing Young Talent Caio Collet to Replace David Malukas for 2026 Season as Will Power Prepares to Depart Team
In a move that has sent ripples through the IndyCar paddock, AJ Foyt Racing announced on November 6, 2025, that Brazilian prodigy Caio Collet will take the wheel of the team’s No. 4 Chevrolet for the full 2026 NTT IndyCar Series campaign. The 23-year-old’s signing comes as a direct replacement for David Malukas, who has secured a coveted promotion to Team Penske to fill the seat vacated by veteran star Will Power. This seismic shift not only reshapes lineups at two historic outfits but also injects fresh energy into a series already buzzing with offseason drama.
The announcement, made from the team’s Speedway, Indiana headquarters, caps a whirlwind silly season that saw Power’s 17-year tenure with Penske end amid speculation and high-stakes maneuvering. Power, the 2018 Indianapolis 500 winner and two-time series champion, confirmed his departure from Penske in early September following a tumultuous 2025 campaign where he led the team in points but struggled with contract uncertainties. At 44, Power cited a desire for new challenges, with rumors swirling that he could land at Andretti Global alongside emerging talents. His exit leaves a massive void at Penske, one that Malukas—long groomed through the team’s technical alliance with Foyt—stepped into seamlessly.
Malukas, 24, arrived at AJ Foyt Racing in 2025 on a Penske-backed deal, delivering the team’s best second-car result in years with an 11th-place championship finish. His consistency on ovals and street circuits, including multiple top-10 runs at Iowa and Mid-Ohio, proved his readiness for Penske’s elite environment. “David’s growth this year was exactly what we hoped for,” said Larry Foyt, team president and son of legendary four-time Indy 500 victor A.J. Foyt. “He’s earned this shot, and we’re proud to have been part of his journey.” For Foyt, Malukas’s promotion is bittersweet—a testament to their partnership with Penske but a reminder of the mid-tier team’s ongoing quest for stability.
Enter Caio Collet, the Sao Paulo native whose rapid ascent has fans drawing parallels to Brazil’s golden era of open-wheel racing. Collet burst onto the American scene in 2024 with HMD Motorsports in Indy NXT by Firestone, clinching Rookie of the Year honors with a third-place points tally, one victory, and six podiums. He elevated his game in 2025, finishing runner-up to Norway’s Dennis Hauger with three wins, nine podiums, and 12 top-five finishes across the season. His adaptability shone on road courses like Road America and ovals such as Iowa Speedway, where he notched pole positions and led laps under pressure.
Collet’s path to IndyCar was paved in Europe, where he dominated French F4 in 2018 before tackling Formula Renault Eurocup and FIA Formula 3. A stint as reserve driver for Nissan’s Formula E team in 2024 added electric racing savvy to his resume, and his Mid-Ohio test with Foyt last month sealed the deal. “I adapted quickly to the car and felt comfortable pushing limits,” Collet recalled. “It’s a big step, but I’m ready.” Backed by Brazilian logistics giant Combitrans Amazonia, whose president Marcelo Camargo hailed the deal as a “dream come true,” Collet will carry the green, yellow, and blue of his homeland into battle. “Brazil deserves this excitement,” Camargo said. “IndyCar is huge there—we’re bringing the flag back full-time.”
Teaming with Santino Ferrucci in the No. 14 entry, Collet forms a youthful duo for Foyt, with Ferrucci entering his fourth season at 27. Ferrucci’s 2025 highlights included a podium at Gateway and consistent top-15 runs, signaling the team’s upward trajectory under the Penske alliance. “Santino’s experience will be invaluable for Caio,” Larry Foyt noted. “Together, they could challenge for that Rookie of the Year title and more.” Analysts agree: Collet’s raw speed and maturity position him as a frontrunner against other newcomers like Hauger at Dale Coyne Racing.
This signing underscores AJ Foyt Racing’s evolution from a family legacy to a competitive force. Founded by the indomitable A.J. Foyt, whose 67 IndyCar wins remain unmatched, the team has weathered lean years but found footing with technical aid from Penske since 2023. Malukas’s success validated that strategy, and Collet’s arrival promises continuity. Yet, the Power-Malukas swap highlights IndyCar’s ruthless meritocracy. Power’s legacy—42 wins, 71 poles, and a record for most victories at the Indy 500 (tied with Rick Mears)—won’t fade, but his move signals a generational handoff. Whispers suggest Power eyes Andretti for a swan song, potentially clashing with ex-Penske teammate Josef Newgarden in 2026’s opener at St. Petersburg on March 1.
For Collet, the pressure is exhilarating. As the first full-time Brazilian since Helio Castroneves’s early 2000s dominance, he shoulders national pride alongside personal ambition. “I’ve dreamed of IndyCar since watching Helio win the 500,” Collet said. “Now, I want to honor that by racing smart and winning races.” Preseason testing at Barber and Sebring will gauge his oval prowess, a notorious hurdle for European imports. If he channels his NXT poise, Foyt could snag its first dual top-10 finish since the 1990s.
As the 2026 grid solidifies—one of the last open seats filled—the series braces for fireworks. Collet’s debut adds unpredictability to a field headlined by Alex Palou’s Chip Ganassi dominance and Scott Dixon’s ageless mastery. For AJ Foyt Racing, it’s a bold bet on youth amid transition. In the words of Larry Foyt, “Caio’s potential is limitless. We’re building something special.” With Power’s shadow lingering and Malukas ascending, IndyCar’s future looks as fast and fierce as ever.
