Ten IndyCar Series team owners were awarded 25 Charters that set a valuation for teams and guarantees starting positions for all races except Indianapolis 500.

IndyCar has finalized a charter system for 25 entrants that pales in comparison to the contentious deal reached between NASCAR and its teams but does give 10 open wheel organizations some guarantees.

In a highly anticipated business move by the NTT IndyCar Series and Penske Entertainment, both entities confirmed Monday that the series will be implementing a new charter system for participating teams.

The IndyCar Series has announced the establishment of the long-awaited charter system with 10 teams agreeing to the terms laid out. The new system will see charters for 25 entries in North America’s premier open-wheel racing series,