Mike Shank, co-owner of Meyer Shank Racing, talks through building a top-tier motorsports team from scratch and what it takes to stay competitive in IndyCar and IMSA. He credits a technical alliance with Chip Ganassi Racing for continuity and improved communication, while stressing MSR’s independent culture and relentless focus on weaknesses. Shank revisits the turning point of winning the 2012 Rolex 24 at Daytona and the life-changing 2021 Indy 500 win with Elio Castroneves. He also discusses IndyCar’s current momentum, the independent officiating board, and why rookie performance is so hard.
"This week we're joined by Mike Shank, co-owner of Meyershank Racing, one of the most respected and resilient teams in North American motorsports."
Meyershank Racing is a professional racing team. In this episode, they’re described as a serious, long-lasting team that competes in major North American racing series.
Meyershank Racing is the racing team Mike Shank co-owns. The episode frames it as a North American motorsports organization that competes at the top levels of sports car racing and IndyCar.
"...where technology cycles move faster than ever, driver development is more complex, and the business side of motorsports is as demanding as the competition on the track."
Driver development is how a racing team helps a driver improve and move up the ranks. It’s not just driving fast—it’s learning race strategy and working with the team to get the car set up.
Driver development refers to the process of training and progressing drivers through coaching, seat time, simulator work, and performance feedback. In today’s environment, it’s more complex because teams must optimize for car-specific data, racecraft, and rapid technical changes.
"...driver development is more complex, and the business side of motorsports is as demanding as the competition on the track. We'll talk about leadership under pressure, the importance of partnerships,"
Racing teams have to run like businesses. They need funding, sponsors, and good organization—not just a fast car.
Motorsports is as much a business as it is a competition—teams rely on sponsorship, partnerships, staffing, logistics, and long-term planning. The episode highlights that these off-track demands can be as intense as on-track performance.
"Love to talk to you about everything IndyCar. Another year rolling around. Did the off season really go that fast, Mike?"
IndyCar is the main open-wheel race series in the U.S. It’s where teams and drivers race on tracks like ovals and city streets throughout the year.
IndyCar is the top open-wheel racing series in the United States, best known for oval racing and street circuits. Teams and drivers compete for championship points across a season of races at tracks like St. Pete.
"We're looking forward to St. Pete this weekend, and I have a lot of momentum from last year and really look forward to seeing all the folks out at the Grand Prix this weekend."
“St. Pete” is a race in St. Petersburg, Florida, that happens early in the IndyCar season. It’s on a street course, so the track conditions can be tricky.
“St. Pete” refers to the St. Petersburg Grand Prix, an IndyCar street-circuit race held in St. Petersburg, Florida. It’s an early-season event that’s often used to gauge how teams have progressed since the previous year.
"Yeah, we're in our second year with a technical alliance with Chip Ganassi Racing, which has turned out to be really a great thing... It's the second year with CGR."
Chip Ganassi Racing is a well-known racing team. Here, they’re working together with Shank Meyers Racing through a technical partnership, and that teamwork is helping the cars and the program perform better.
Chip Ganassi Racing (CGR) is a major American motorsports team. In this segment, Mike Shank explains that MSR’s technical alliance with CGR has improved testing continuity and overall competitiveness.
"The root insurance is a direct that'll be on the six car for Marcus this weekend is a direct result of that marketing cooperation."
In a race, each car has a number so everyone can track it. “Six car” means the car numbered 6 that Marcus will drive this weekend.
“Six car” refers to the race entry number assigned to a specific car/driver in a multi-car event. Car numbers are used for identification in timing/scoring, strategy discussions, and communications during the weekend.
"I mean, like, I just today, I woke up with tons of emails wondering about budgets, where's the money at, you know, every day."
Budgets are basically the spending plan. In racing, the budget affects what upgrades you can afford and how you run the team day to day.
Budgets are central to motorsports operations because they determine how much the team can spend on car development, parts, travel, and personnel. Budget pressure also influences decision-making during the season (e.g., when to upgrade vs. when to conserve).
"2017, we finally got a factory program for Acura to run in the NSX and MSU in 2017..."
A “factory program” means the car company is officially backing the team. That usually brings better cars and more technical help.
A “factory program” means the automaker directly supports a racing team—typically with cars, engineering, parts, and strategy input. It often accelerates a team’s competitiveness because the team isn’t relying only on customer support.
"...it took us to 2017 to get, you know, the factory deal in IMSA. And then also finally took tip or toe in to Indycar."
A “factory deal” means the car maker is partnering with the team for racing in that series. It often comes with extra support and better equipment.
A “factory deal” in IMSA usually indicates a manufacturer-backed partnership for racing in that series. It can include dedicated support, development work, and access to the latest-spec race cars.
"But to go beyond that to really, for me personally, it was always the Indy 500, right?"
The Indy 500 is a huge open-wheel race in the U.S. It’s a big deal in racing, and teams plan their whole seasons around trying to compete well there.
The Indy 500 (Indianapolis 500) is one of the most prestigious open-wheel races in the world, held at Indianapolis Motor Speedway. It’s a major goal for many IndyCar teams and drivers because of the scale, competition, and visibility.
"There's no 401k. She nuts away some money here and there, but not enough to sustain."
A 401(k) is a retirement savings account in the U.S. The point here is that they didn’t have one, so they couldn’t rely on normal retirement planning while building the racing program.
A 401(k) is a U.S. employer-sponsored retirement savings plan. The speaker is contrasting having long-term retirement benefits with the reality of funding a racing career without steady corporate support.
"It's May 30th, 2021 and the 105th running of the Indian apolis 500. And of course, you know, like every team starts this season with one goal in mind..."
The Indianapolis 500 is one of the biggest races in American open-wheel racing. It’s a major event where teams race hard for the win, and strategy matters a lot.
The Indianapolis 500 (often called the Indy 500) is a premier American open-wheel race held at Indianapolis Motor Speedway. The segment uses it as a key event date (May 30, 2021) to discuss race strategy and outcomes.
"That car is still going to be at the end of the speedway. So, and I don't think the museum folks quite understand that..."
A speedway is a race track—usually an oval—where cars run laps at high speed. In this segment, it’s where the race and the big crowd reaction happened.
A speedway is an oval track designed for high-speed racing, often associated with stock-car style events. Mentioning the speedway frames the setting and explains why the team talks about laps, fences, and crowd behavior.
"But the basis is, you know, on the IndyCar program is also a guy called Adam Rovisini. He is the Chief Operating Officer of the company now."
A Chief Operating Officer is basically the person who makes sure the company runs smoothly day to day. In a racing team, that can include coordinating the work that keeps cars and events on track.
Chief Operating Officer (COO) is a top executive responsible for day-to-day operations and ensuring different departments function effectively. In racing teams, that often includes logistics, staffing, budgeting, and coordinating technical and race-day activities.
"But the basis is, you know, on the IndyCar program is also a guy called Adam Rovisini. He is the Chief Operating Officer of the company now."
Adam Rovisini is the company’s COO in this story. That means he helps run the day-to-day business side that supports racing.
Adam Rovisini is identified as the Chief Operating Officer (COO) for the company managing the IndyCar program. This is a notable leadership role because it ties business operations directly to racing execution.
"He was a crew chief on one of my GTD cars. But I asked him, let's see, let's go do the Indy500."
A crew chief is the person who helps run the team on race day. They coordinate strategy and work with the engineers and pit crew so the car is set up to perform.
A crew chief is the senior team leader for race strategy and car setup decisions during competition. In open-wheel and endurance racing, the crew chief coordinates engineers and the pit crew to execute race plans and respond to changing conditions.
"He was a crew chief on one of my GTD cars. But I asked him, let's see, let's go do the Indy500."
“GTD” refers to a class of sports car racing (GT Daytona) where teams compete with production-based grand touring cars. The host mentions a crew chief coming from GTD experience before moving into IndyCar, illustrating how skills transfer across racing disciplines.
"And especially when you look at like in the month of May, this past May, was really tough for all of us. I mean, it was especially hard on Mr. Penske."
“Mr. Penske” refers to Roger Penske, a major figure in American motorsports and a key IndyCar team owner. The speaker notes that recent challenges were especially hard on Penske, framing it as part of the series’ broader turbulence.
"...because of that, we got some direction, we got a lot of good ideas coming in from OEMs and from the team owners."
OEMs are Original Equipment Manufacturers—companies that build the major components and systems used in race cars (and often the engines/powertrains or related technology). The speaker says they received “good ideas” from OEMs during the recovery period, highlighting manufacturer involvement in solving series issues.
"Almost all the engineers have been almost all the teams in the Paddock at this point. So everybody is just fine honed this car down to a razor's edge."
The paddock is basically the team’s home base at the race. It’s where the crew works and where the cars are prepared.
The paddock is the area where teams operate between sessions—where engineers, mechanics, and team personnel are based. The speaker uses it to describe how teams and engineers are deeply familiar with the current cars.
"So everything really counts. Strategy, pit stops, time in, time out of the pits, pit stop itself is so critical to get track position."
A pit stop is when the car pulls into the garage area to get serviced. Doing it at the right time (and quickly) can put you ahead on the track.
Pit stops are scheduled stops in the pits to service the car—commonly tires, fuel, and adjustments—while the driver changes track position. In IndyCar, the timing and speed of pit stops can heavily influence race results.
"Just ride on it immediately with a plan and execute the plan."
“Execute the plan” means doing what you decided before the race—like the setup and race strategy. It’s about carrying it out correctly during the chaos of racing.
“Execute the plan” refers to following the pre-race strategy and setup choices while adapting to what happens on track. In racing, the best strategy is only useful if the team and driver can carry it out consistently.
"both our cars were at the top of, toward the top of the time sheets the whole time."
Time sheets are the official timing results from a session. Teams look at them to see who is fast and how their car is improving.
“Time sheets” are the posted timing results from practice, qualifying, or test sessions. Teams use them to judge pace, compare setups, and track progress over a session.
"And Elio was sixth and we ran him out of fuel, made a mistake. You know, so we always, we, I'm really pleased with our quality packages for any 500."
That means the car didn’t have enough gas to finish the race. In racing, teams have to plan fuel carefully, and mistakes or changing race conditions can cause a fuel problem.
“Ran him out of fuel” describes a race strategy failure where the car doesn’t have enough fuel to finish, forcing an early stop or retirement. In IndyCar, fuel strategy and consumption modeling are critical because cautions and pace changes can swing fuel usage quickly.
"so we always, we, I'm really pleased with our quality packages for any 500. So I'm happy there."
“Any 500” means the big 500-mile races. They’re long, so planning fuel and keeping the car reliable matters a lot.
“Any 500” refers to IndyCar’s 500-mile races (most famously the Indianapolis 500). These events are long-distance tests where strategy, fuel management, and reliability are as important as outright speed.
"The business side of IndyCar has always been difficult. Raising the money to get this to happen is really tricky, especially with NASCAR out there and doing so well right now."
NASCAR is another major U.S. stock-car racing series and a major competitor for sponsorship dollars. The speaker argues that even if IndyCar and NASCAR are “different markets,” they still compete for the same entertainment and marketing budgets.
"...it will be a tough year for him to learn everything. It looks to me like he's doing a fine job in his work. He should be in the testing and stuff, but he'll find out real quick when you have very limited track time."
Limited track time means the driver doesn’t get many practice laps. With tight street tracks, that makes it much harder to learn fast and stay confident.
Limited track time means the driver has fewer practice sessions or fewer laps to learn the circuit before racing. The segment argues that this makes it harder to adapt quickly, particularly on street courses with little margin for error.
"...there is no relief for you just because you're a rookie. They're going to drive over the top..."
A rookie is a first-year or new driver in a series, often lacking experience with the car, team routines, and race-day pace. The segment emphasizes that rookies can struggle with the aggressive pace of pit lane and on-track driving.
"Sunday night, we'll start talking about Phoenix. We had a test there. What happened at Phoenix?"
A test is when the team runs the car to learn what’s working and what isn’t. They use that information to adjust the car before the next race.
A “test” in racing is a dedicated session where teams gather data to improve car setup and performance. It’s used to evaluate changes to aerodynamics, suspension settings, and tire management so the team can arrive at the next race better prepared.
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The automobile is one of the most important inventions that revolutionize the modern world.
In America, the rich history of car culture runs deep.
As technology continues to shape the future of the industry,
Jason Stein is here to share the stories of people passionate about cars,
from industry leaders and innovators to car-obsessed celebrities.
Buckle up as Jason takes you inside the boardroom, onto the track,
and around the bend on Cars and Culture on SiriusXM Business Radio.
Welcome into episode 245 of Cars and Culture on SiriusXM. I'm your host, Jason Stein.
Great to have you back, listening again this week. Thanks for being along for the ride.
This week we're joined by Mike Shank, co-owner of Meyershank Racing,
one of the most respected and resilient teams in North American motorsports.
From its roots as a scrappy, independent operation,
to becoming a championship-winning organization competing at the highest levels of sports car
racing and IndyCar. Meyershank Racing has built its reputation on perseverance, precision,
and a relentless pursuit of performance. Mike's journey into racing wasn't conventional.
He didn't inherit a legacy team or step into a fully built organization.
He helped create one from the ground up, brick by brick, sponsorship by sponsorship,
and result by result. That entrepreneurial spirit still defines the team today,
as Meyershank Racing continues to compete against one of the most well-funded operations in the sport,
while maintaining a culture rooted in grit, accountability, and constant innovation.
In our conversation, Mike reflects on what it takes to build and sustain a competitive racing
organization in today's environment, where technology cycles move faster than ever,
driver development is more complex, and the business side of motorsports
is as demanding as the competition on the track.
We'll talk about leadership under pressure, the importance of partnerships,
and the state of IndyCar today. We'll also look at how Meyershank Racing has evolved
across different series and what success really looks like in modern motorsports.
All of that with Mike Shank on Cars and Culture.
Hi, it's Mike Shank, and this is Cars and Culture with Jason Stein.
Today we're joined by one of the most entrepreneurial and compelling figures in American motorsports,
and it's a pleasure for me to have Mike on the program. Welcome in ahead of the season.
I know you're getting ready to get going, but I really appreciate you being on the program.
Thank you. I appreciate you having me. Love to talk to you about everything IndyCar.
Another year rolling around. Did the off season really go that fast, Mike?
Well, it didn't seem at the time, but now that we're in it, we're knee-deep in it.
We've come out of four days of testing over the last 10 days. It feels like we're
fastly approaching it. We're looking forward to St. Pete this weekend,
and I have a lot of momentum from last year and really look forward to seeing all the folks out
at the Grand Prix this weekend. How do you spend your time getting ready for the season?
I know there is no off season, Mike, but when you think about the goals that you want to
accomplish after a year like last year, where are you really focused? How do you try to make the
most of the time that you're not going from one track to another?
Honestly, for me, and this is sometimes hard because it's hard to look at where you're weak,
sometimes at least for me, but really what we do is we go back and review what our weaknesses were
almost more than our strengths because I want to face them. I want to understand what they were,
whether it's me or anybody else or whatever, just circumstance. We understand so that we're
better prepared to deal with it this year. We made a huge gain in performance last year,
and we now want to carry that forward obviously, and we want everyone to feel that. Our expectations
are going to be higher this year for everybody, just not me, just not the drivers, but the team also.
So how do we fix all the little things that caused us some problems in 24 and 25, to be honest?
In 24 and 25, you've got to be, like you said, addressing some of the issues that you wanted
to address, but you also have to be very pleased with where things are right now. Give us a bit
of the structure of the team, what you like heading into this year.
Yeah, we're in our second year with a technical alliance with Chip Ganassi Racing, which has
turned out to be really a great thing. I really love Chip and all his folks that work there.
We have some outstanding people that work in our program from CGR, and I think when we go back and
really analyze it and look at it, it was just a huge, huge move for us. So lots of appreciation
there. But now, going to the second year of it, I could just feel in the testing we've had over
the last few weeks, the continuity really means something. And I hear people say that all the
time, but now I'm actually in the middle of really keeping everything pretty much the same,
and it feels better. The communication paths are better. The competitiveness is better.
Lots of positive things that I didn't realize when you can keep a staff together, which is really
difficult in this day and age. So really look forward to that. But basically, MSR is its own
solely independent team. We have our own franchises. We have our own people that run the program. We
side, and we run everything else. But we act as a five-car team, if you will. And it really
works well. Jim Meyer and I got in this in 2018 together, and we chose to go the technical route
package with an alliance. And we've had a couple of them. And it's really been the right thing for
us to do. And we look forward to seeing where this can go. And it's the second year with CGR.
It's very compelling. I mean, Chip and Asi, where do you even begin? What have you learned
from an organization like his? You know, he's a really interesting guy. And if I've learned anything
so far from Chip individually, is to chill out a little bit, right? He thinks I worry too much.
And he also says that, you know, a six months is a long time in racing. A lot can happen,
where in my mind, I've always been switched way forward. It's just the way my mind works.
And I do that with our sports horror program and IMSA. But a little thing that he's taught me
already for me personally is just to take it down a notch and let things evolve naturally.
And don't try to force things to happen until you have to. And then you've got to make a decision.
So it's been great. His folks, all the men and women that work there on our program,
and they just have treated us as equals and totally forthcoming, never feel like anything's
being held back, technically, commercially with Tim Meyer on board on my side. And
commercially, we work really well together. The root insurance is a direct that'll be on
the six car for Marcus this weekend is a direct result of that marketing cooperation. So it's
just not technical. It's also marketing. I want to emphasize for those who don't know,
I mean, you built Meyershank Racing from nothing. No legacy infrastructure, no inherited programs.
I mean, I don't know that the audience truly understands that was was credibility harder
to earn than funding? Well, I'll say a couple. Yes, I want to answer that question, but I will
also say it was my family that did get me in racing, but we didn't have a pod to piss in. I mean,
we weren't poor, but we couldn't afford to race. But they were loving and super supportive. But then,
a long time ago, my wife and I, Mary Beth got together. And she's also been a kind of a bedrock
for me personally, because, you know, I want to go race, I got one win. All I do is want to win in
race, you know, and I'll spend everything in front of me and everything behind me to do it.
And she got that conservative nature kind of built into me over years, which really,
really served us well. When it was just her and I running the business up until 20, whatever, 2018,
that that's really important. But it took me, I feel like to answer your question,
I feel like I'm a freshman almost every year, I have this inherent inside of me that feels
like I'm always potentially going to go out of business, even though that's not the case.
I have this material mindset, though. It is. And I was just watching Gordon Ramsey's
documentary last night, actually, and he had this same mentality, which I really can empathize
with. I mean, like, I just today, I woke up with tons of emails wondering about budgets,
you know, where's the money at, you know, every day. And even though I have two fantastic partners
in Jim Meyer and Liberty Media, there's, these are two giants, right? And I still have that
mentality that I need to go earn it almost every single day. And certainly every year.
So yes, it has taken me a long time with the group. That's happened. But to get just respect and get
another thing, get the notice of the OEMs, which are vital in our business at this level,
you have to have OEM support in my mind to really have a shot at beating, you know,
Penske's or Ganassi's, the big, big names in our sports in North America. It's very difficult to
do it without a factory presence. What were those early years like behind the scenes?
They were very interesting. Where we really in 2004, we went to the Grand Amrolex series with
Jim France, and he took us under his arm and never let go. And I give almost all the credit,
kind of with a big name figure finally getting behind me with him. He's just just an incredible
person. And when I saw him going through what he was going through with the Michael Jordan thing,
I just thought it was insane because I know him on a different level. And most generous, loyal
guy, you know, one of the most I've ever been around. And he put his arm around us in 2004.
My wife and I used a line of credit to buy our first Daytona prototype. And he essentially
co-signed the loan to buy the first car that really put us in a level that we could compete
professionally. And that was tough. So we had our house up. There was eight of us that worked full
time. We were ham and egging it the whole time. But we were doing well. And we were very thrifty,
very conservative financially and always worked with the right people, whether it's drivers or
paying drivers or sponsors or whatever it is. We had a really good sense of who was not real
and who was real. And I think that's our Midwest upbringing, honestly. I think it's
a lot of central, you know, part of Ohio and Indiana. We just have this mentality about work
and ethics. Certainly not perfect, but I think it's the bottom line driver to folks like myself,
Jim Meyer, who's from Indianapolis, you know, kind of live by. And early on, I can't tell,
you know, I was offered jobs at major teams with major positions that I could have
shuttered the whole thing. And my wife is like, are you freaking crazy? We've got 20 years at
that point and you're going to just stop. And I'm grateful she did that because times get tough
sometimes and your brain starts going a little wacky. Yeah. When did you first believe that
you could really become a top tier team? I believe, I believe every day I go out there,
I'm a top tier team every single day, whether I'm club racing or I think I'm the best or close
to it, maybe not that day, maybe not that year, but it never escapes me that we're not good enough.
But was there a moment when you, when you truly believe, I'm not talking about, you know,
current day, but in the past where you said, okay, you know what, we got a shot for this,
we can do it. Yeah, let me tell you, like what really changed for us, our world really
changed when we won the 2012 Rolex 24 overall at Daytona. It was the 50th anniversary of the Rolex
24. And we tried for eight or nine years to do it and hadn't been very close. And that year,
we had AJ Elmendinger, Justin Wilson, Oz Negri and John Pugh driving and we won it. And this is
obviously before Justin, that was 2012, Justin passed in 2015. So also started a relationship
with AJ and Justin and that went on, this still goes on today. AJ just drove for me at the Rolex
this past year, you know, but Justin drove for me a lot later than that. But more importantly,
a guy called Oz, Oswaldo Negri, who's a Brazilian professional sports car driver really came into
my life in 2006. And not only was an outstanding driver, but he also was really good at putting
people together and putting money together to make this all happen. And he and I were together
for 13 seasons. So once I won that 2012 with him, then I thought, okay, now we got it. Now I think
we were finally where we need to be. And it went on to do, you know, really good things from there
on out. 2017, we finally got a factory program for Acura to run in the NSX and MSU in 2017. And
that same year, we also did our first Indy 500 with Michael Andretti and Jack Harvey. So that's
important. That's pivotal. 2012, we finally get like where we should be. And then it took us to
2017 to get, you know, the factory deal in IMSA. And then also finally took tip or toe in to Indycar.
And the 2017 Indy 500 was the first and that was Jack Harvey. And also, by the way, where I met
Jim Meyer, where I met Jim Meyer, that same year. Right, right. And now we talked a little bit about
the evolution and bringing in Jim, bringing in Liberty, Elio, obviously, was bringing in outside
ownership about capital credibility or scaling the vision. And I guess, how do you balance that
entrepreneurial instinct that we've talked about with sophisticated partners and the governance
of sophisticated partners? So, so everything you just asked the answer is yes. Okay, so my wife and
I could have kept my wife and I could have kept doing what we were doing. We had just got word
that we received the NSX GTD deal, which is a big deal. We could have financially survived on that.
But to go beyond that to really, for me personally, it was always the Indy 500, right? I've worked
and we tried it long. I don't want to get too much down the road. We tried it in 2012. We bought
a car actually on the DW12 came out. It didn't work out and we had to sell it. And so I went back
to work in sports car. But when we wanted to scale to what I really wanted was a shot at the Indy
500, her and I were just tapped out financially. Number one, number two, our network was not big
enough to support a program like this. So take the money over here. Just we just didn't have enough
mileage, not a mileage. We didn't have enough network, to be honest with you, to run a program
in Indy car and in sports car. So we looked at it and we didn't. And to be honest with you,
her and I did not have a retirement. There was no retirement plan. Okay. And this was the retirement
plan. So our net worth was basically at we had a decent amount of assets at that time. So we
wouldn't be broke, but not enough to do what we're doing today. So we made a decision. This was not
taken lightly. We had some partners early on in our life that we eventually bought out like in the
early 2000s. And we're on our own for about 15 years. And it was just her and I in the bank.
And we made smart decisions, had to go to the bank sometimes, didn't have to sometimes. But finally
to say, Hey, we need something to secure our own, let alone our people, but our own personal health.
We got nothing. There's no 401k. She nuts away some money here and there, but not enough to
sustain. So that's when we recognized we needed it. And when Jim Meyer came along, I had no idea
who the hell he was, had to research it and talk to some people and use my network. And at the
end of the day, her and I looked at each other, I think, and we got to know him and his family
in that time period, which was really unique. And they're just an incredible family. And went
for it. And that happened first. So Jim Meyer happened first. And we closed that deal in the
winter of 2018. Jim and I. Wow. Well, so and so and so to take that another step forward
and COVID happened in 2020. And we're sitting around Jim and I just figuring out how we're
going to survive and what do we have to do and making all these moves. Jim said to me, you know,
this is at the height of Reliberty really boosting Formula One. They just bought it a year or two
before. That's right. Drive to survive it, just come out and it's taken off like a rocket. Jim.
Graeme Faye. So Jim has worked for Greg and John Malone for 20 years at Sirius. They bought Pandora
while Jim was there. Jim's the guy doing Howard Stern's contracts all the time. And he really
built Sirius XM with his team there to an epic level and had a level of trust and
workability with Liberty. He came to me and said, what do you think about we bring these guys in
to help bolster us? And we talked about that and we decided to do another buy in and it's been great.
And Mephaye's not no longer there. Of course John Malone is. They've changed a little, but
we're still a card carrying member of Liberty family. They own a third of our business and
we love being associated with them. So that's how that happened. But it really,
it kind of just secured us to the ground and let me go do the things we need to do. Not crazy,
but let's not worry so much about the basis and let's get out and get the work done.
Yeah, we've had Greg on this program. He and I have talked publicly about he's the
reason why this program exists four and a half years ago because definitely the vision is there.
Yeah. I want to get to the big one now then. It's May 30th, 2021 and the 105th running of the Indian
apolis 500. And of course, you know, like every team starts this season with one goal in mind,
not just the championship, I guess one in one A, but it's also to win that race. So on that day,
you know, what a lot of people might not remember is the two-time winner to Kuma Sato was actually,
defending champion led as late as lap 193, but he was off sequence and he had to pit with
seven laps to go. Eventually finished 14th and somebody else took the lead for the first time
on lap 199. And not only did Elio Castronevis win his record tying fourth in D 500, but you
end up in the winner's circle. How does that change your life?
It's the gift that never stops giving. It never stops giving. It is the best thing that's happened
to us professionally. It's something that's almost unbelievable storybook to think that hit.
That was his first race with us. First race. Yeah. And there's so many stories that go along with
what happened, the lead up to that and how it all happened. And it's just amazing, amazing thing.
And it's changed the way we're perceived. It's changed the way we can talk to people. It's
helped on the marketing side. It's, you know, I don't even know where to get it. It's everything.
You know, it's funny. I really wanted to put that car in the museum, but we're still using it.
That car is still going to be at the end of the speedway. So, and I don't think the museum folks
quite understand that, but I'm saying, Hey, we, you know, it's another $9 million if I want to
replace it. And I'm just not there right now. So, you know, it's, it's just the, it was just the,
I've just never seen, and you know, we were limited capacity that you, they say 150,000,
but I think there were more there because of COVID coming out of COVID. And I, and my wife and I got
to ride, you know, after the race, we all jumped in a Camaro convertible. And Ellie was like,
come on. So me and MB got on the convertible with him and his wife and his kid. And it was the most
amazing five mile an hour lap around the speedway. I've ever been a part of, because people didn't
leave the speedway that day. They are climbing on top of the fence, it gives me chills right now.
They're climbing on top of the fence, screaming his name. And the, I've never felt that much power
directed at my general direction. And I happen to be right next to him, right? So I, I could feel
this love that was just like a missile coming in at him and is so deserved. And he played chess,
the lat, he played chess that entire race. He knew exactly what he was doing and when to do it.
And it all worked out for us. And we had the, you can imagine the biggest party you've ever seen
a few times after that race. And we, and we watched it on YouTube once in a while. So
yeah, I bet you do as you should. Did you think about after the victory, did you think about
the early days and the risks that you took? And I guess Mike, was it validation or was it
relief or was it both? It was both validation for sure. But I think about my mom and dad when
we were doing this and, you know, and all the normal stuff, sleeping in the van, sleeping in crappy
hotels. My dad, my dad died 19, almost 1989, 1990. He passed away at 47 and didn't get to see it,
but my mom did, which I'm really great, you know, my mom did get to see it, which I'm really grateful.
But my dad was a true motorhead and a true enthusiast. And he's the one who got me into it. He,
he was a crew member for just club amateur SCCA teams. And, and they did it on the weekends for
fun. And, and I used to beg him to go when I was seven, six, seven, eight years old to Mid-Ohio
in IRP, you know, just Nelson Ledges, all the, you know, little tiny tracks that, you know,
where I grew up and got my racing license. And I think about all those times and all the people
that helped early on, which are, you know, because we didn't have a lot, it took a lot of villages to,
to put me on the racetrack, just not me and my wife. There's partners, the original partners we
had, there's a second partners that came along and then eventually Jim Meyer and Liberty. But
I guess it validates it, but it also validates if you do the right thing all the time, even when
it hurts, if you do what you say you're going to do, even though it hurts, if you just keep pounding
it, it'll come your way. And I think making good decisions at the right time has benefited my wife
and I tremendously. Yeah. You alluded to this a moment ago, but I want to ask it in a different
way. Did winning the race change the perception of Meyer Schenck racing inside the paddock?
Absolutely. Yeah. It has to. I mean, there's a lot of people there that haven't won it,
or haven't won in a long time. And we came in and won it almost, you know, right away.
I think it just, it validated, like you said, what we're capable of and what we're doing.
It's not perfect. We've had some tough years after that, to be honest with you. But now we're
coming back out of a, 23 for us was a really, really tough year. And 24 was better, 25 even better.
So we're just trying to climb out of that hole. But the basis is, you know, on the IndyCar program
is also a guy called Adam Rovisini. He is the Chief Operating Officer of the company now.
And when we started our IndyCar program in 2017, it was him by himself, no one else.
He was a crew chief on one of my GTD cars. But I asked him, let's see, let's go do the Indy500.
And he had done it for 15 years with Chip. And he's like, all right, I'll do it. And so he started
single handedly building our IndyCar program. And today he runs the whole thing. And his baby is
the IndyCar program. But guys like him that had the experience, Matt Swan, there's some people in
our group that have a lot of IndyCar experience that really help us get there quicker, if you will.
And I'm grateful for those folks that came along at the right time in MSR's trajectory.
Beyond the trophy and the ring and everything else, what did the win do culturally inside the
organization? Does it strengthen the brief for everybody or change recruiting for engineers
or mechanics or maybe drivers are attracted to you at a different level, you know,
heads kind of snap in the garage. And oh, I'd like to go run for them. I wonder what they're up to.
Yeah, yeah, I think, you know, I don't know, you put 20, 30% just by tagging that on helps
understanding what we're about. And then come see our shop, our facility, which is really nice.
Understand culturally how we want to treat people by and you do that by talking to other
people that work or have worked for us. All those ingredients are what kind of keep people wanting
to either stay with us or come to us in any position, crew member, engineer, driver, whatever
the case may be, they know we're a capable group. So if you're going to come to MSR,
we're going to push you to be better. We're going to push you to bring your experience.
And we're going to give you an opportunity to win some of the biggest races on the planet.
After the break, I'll continue my conversation with Mike Shank, co-owner of Meyer Shank Racing.
To see more cars and culture interviews, visit the Cars and Culture YouTube channel.
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The automobile is one of the most important inventions that revolutionized the modern
world. In America, the rich history of car culture runs deep as technology continues to
shape the future of the industry. Jason Stein is here to share the stories of people passionate
about cars from industry leaders and innovators to car obsessed celebrities. Buckle up as Jason
takes you inside the boardroom onto the track and around the bend on Cars and Culture on SiriusXM
Business Radio. Welcome back into Cars and Culture here on SiriusXM Business Channel 132.
I'm your host Jason Stein. Now the continuation of my conversation with Mike Shank, co-owner of
Meyer Shank Racing. To see more Cars and Culture interviews, visit the Cars and Culture YouTube
channel. Subscribe, comment, and check out hundreds of conversations with the creators,
collectors, and culture makers driving the industry forward. Let me get your perspective on
IndyCar as a whole right now. Yeah. Where does it sit? What does it need? Where are the opportunities?
You know, I feel ahead of St. Pete here this weekend that there's an energy and an excitement
for all of it again. But what does it need? Well, you know, it's interesting. We have been through
a lot the last couple of years. And you know, that day, number one, let me say this to you,
right now IndyCar is on the best trajectory it's been a part of since I've been on it.
That's how I feel right now today. The stuff and things that are happening today are exactly what
we needed. But we can go back some steps here now a couple of years ago, a year ago, and really see
the issues that we had. And especially when you look at like in the month of May, this past May,
was really tough for all of us. I mean, it was especially hard on Mr. Penske. But it was really
hard. But in a way, it set a flight path for us to pull out of it. We were definitely bottomed out
in May, just from an ownership standpoint, everything just felt really chaotic to me.
Even though we're even though, what's that? The general turmoil you're saying from last year,
it just felt like a bad space, right? Okay, and we and we it looks looking back now, it's looked
like we bought where we kind of bottomed out. But if nothing else, it gave us a ladder to
climb out of the hole with because because of that, we got some direction, we got a lot of good
ideas coming in from OEMs and from the team owners. And we started digging. And of course,
Roger is a is the biggest fighter on the planet. And once he understood what we all felt and look,
he conceded some, we conceded some, we're still in the middle of that whole thing with building
the new board that's going to run the operations and everything, that's still in process, but
everybody knows it's happening. But when you look at, you know, listen, Fox coming in the Murdox,
and, you know, Mr. Shanks that put everything, you know, from the Fox table in, then you had
this Washington DC race, and then they've just announced the OEMs get charters now,
which is a good thing in my opinion. All these things are building up to something. We have
Texas coming up the Arlington race. I it's just all a super positive place. Now, going forward,
to continue this momentum, we need to finish up our officiating side of things, which we're working
on. We need to go to new venues that they are definitely committed to doing. I don't know how
often, but certainly we've got a couple this year, this Washington DC thing will be monster for us.
It has helped in so many ways commercially. Wait till we get there. Wait till that thing happens.
It's going to suck some oxygen out of the room, right? We needed a East Coast race. It just fits
so many. Now, I know I'm being told it's a one and done deal, but okay. So this is all the great
things that are happening in IndyCar. I look forward to being a part of it as it grows.
IndyCar has always been known for tight competition, parity to some extent.
From an owner's perspective, is the series more competitive now? Is it
than it ever has been maybe? Without question. Even when I got in, you could count on four,
five, six people just not being competitive. It's just not the case anymore. Any given Sunday,
any given Sunday, almost anyone can pop up to the top on a strategy play. And it's really tough.
Now, we get new cars in 2028, but these cars we have now, we have this year, next season.
Everybody knows them so well. Almost all the engineers have been almost all the teams in
Paddock at this point. So everybody is just fine honed this car down to a razor's edge.
So everything really counts. Strategy, pit stops, time in, time out of the pits,
pit stop itself is so critical to get track position. Qualifying is essential because
you need to be at the front now. It is so difficult. And I think you'll notice that when you put
people that haven't been in these cars, no matter who you are, when you come to IndyCar, your first
year is tough, tough, tough. And it's just what you got to pay your due. Your due is 12 months
of a tough year for a rookie. It's really difficult. So if someone comes in as a rookie and does really
well, that is someone you really got to grab because this is such a hard competitive series.
We will have a little bit of a reset in 28 when we get our new cars. So that could be a very
interesting time to be a part of IndyCar also. But listen, we had our tough times,
we bottomed out, we're coming way out of it. And we're not talking like graduate,
we're talking vertical, we're coming out of it in a hurry and proud to be a part of it.
You've got a lot of really engaged folks and people with a lot of experience behind that.
Let's talk about that independent officiating board, the IOB. I know that their charter,
for those who don't know, is really focused on establishing and launching this IndyCar
officiating to clearly define operational and governance separation and transparency to the
points that you just mentioned for the season. And boy, the IOB chairman, the gentleman I know
well has been on this program, Raj Nair. Ray Evernhams has been on this show as well,
secretary and treasurer. I mean, I've got to believe that you think from an ownership standpoint
that there is enough experience and enough credibility behind those individuals, just to name
two, that will put this in the right direction and really finalizing what IndyCar should be.
Is that right? Absolutely correct. And in my attitude has changed a little bit when we first
formed this board, I was in a hurry, hurry, hurry. And this is again, part of the chip
can actually teach in me a little bit. So let's get someone on. Let's get this going. We need
to change our ways a little bit here. But the reality is, is that they're going to make sure
we get the right candidate at that top position. Okay. And they're still, they're still working
on that. I know of the candidates, I know who they are. We've all spoken what our thoughts
about all the candidates and let these three decide ultimately what we do. But we've got
some great candidates to run this thing. And I'm looking forward to seeing where we I would
think fairly soon we'll have a person in that position. And then it's just going to take some
time to get it all in place. And originally, I thought we needed to do something fairly quick,
but I think I was wrong on that. I think we need to make sure we get the right person.
And, and I'm glad, I'm glad they're working hard. We talked with the, you know, I talked to Raj,
you know, a few times already, we're going to see everybody this week at St. Pete and get to face
to face with them a little bit, get a pulse on kind of where we're at. We get updated often
from the group as team owners. And it's going, it's going well, I would say.
When we look at your team, and you know, MSR and word is key losses, you've had none,
you've had none. But gains and changes, you basically, and you alluded to this earlier,
you've embraced the continuity. Continuity is the model for your team during the off season.
And I know your race veteran, Billy Vincent, has now become Marcus Armstrong's full season
race strategist. He joined midway through last year, I think, right? That's right. That's right.
So what, what will the team, how will the team benefit by having that continuity? And really,
what do you expect? Well, I expect more, I expect results to be further up than we were this year.
So last year, I was satisfied with being top 10. And we had a lot of them. You may have the number
in front of you. It's 21 or 22 between the three of them, right? Top 10s. And that is really good.
But now, you know, we need to hover around that top five. And the continuity, at least it appears
to me so far, has been very helpful. Because right away, they went to work at Seabring two weeks ago,
and it's like nothing missed. Just ride on it immediately with a plan and execute the plan.
And both our cars were at the top of, toward the top of the time sheets the whole time. So,
but it's more than this is the time sheets, because Seabring is a tricky little guy. It's just me
watching the group work. And, and I'm, that's all I do. I'm the great observer now. I used to work a
lot. Pick up Kiwi tile and load the truck. I did that up to three or four years ago. But now,
I'm just a great observer, you know, and just watching how people, you know, are working together,
their attitudes. And it's really in a good spot right now. Knock on wood. And the continuity is
something we haven't experienced a lot. So I'll tell you here in a few months. Yeah. What tracks
are you most confident about this year? I, you know, traditionally where we've run well, honestly,
is, you know, like St. Pete, we've always been fairly, the first part of the schedule has always
been decent to us. Indy is, you know, I'm really proud to say over the last two years, we're the
highest qualifying Honda, which is great and always seemed, you know, Felix finished fourth
there last year. And Elio was sixth and we ran him out of fuel, made a mistake. You know, so we
always, we, I'm really pleased with our quality packages for any 500. So I'm happy there.
There's some other tracks that, you know, Felix is really strong at Laguna and Marcus, you know,
Marcus is really good at several different tracks also. So we just need that. We need our two boys,
our two full-time boys, just to take it up just, and they know it, just one notch, just one. We
don't need to go crazy, but we need to get up in that top five more and really make our presence
fill. And we have that capability. I know this. So just getting it all lined up.
And I can imagine when you sit down with your ownership partners ahead of a season like this,
the conversation kind of sounds like this. It's about, yes, it's about championships,
but it's also about commercial growth, long-term enterprise value, maybe expectations that are
just as much performance-driven as maybe they're business-driven. They are. It's totally right.
The business side of IndyCar has always been difficult. Raising the money to get this to happen
is really tricky, especially with NASCAR out there and doing so well right now.
People say they're different markets, but let me tell you something. I compete with them every day.
I don't feel like dollars. So to your point, you know, we, commercially, we have to compete
better or higher. And it's tough because Tim Myers, you know, on him, he's kind of the commercial
leader and he does it with very little help from anyone else. And we need to get him some help,
actually, but it's not easy. Between Jim and Tim, you know, we work really hard with the partners
that we have now today. We have an exciting new band announcement for St. Pete coming up for
Felix's car, which we'll announce tomorrow, I think, or later today. So just trying to figure
out creative ways that we can get eyeballs on our product and ROI for our partners. And it's
tricky. It's very tricky. Yeah. Yeah. You mentioned just the general excitement number of years ago
with Liberty and Drive to Survive, Netflix and everything else. Well, now, you know, here we
have ex-formula one driver, Mick Schumacher, now joining Ray Hall Letterman. And there are obviously
others who have a lot of experience. What is that? Does that borrow over? Is there, I mean,
it can't hurt, right? No, no, you've got XF one guys that are now in the mix on a regular basis.
It's great. You know, I wish him all the best with those guys. It will be, I promise you, it
will be a tough year for him to learn everything. It looks to me like he's doing a fine job in his
work. He should be in the testing and stuff, but he'll find out real quick when you have very limited
track time. It is tough. What you roll out of the box at a street course with walls right on top of
it. It can be, it can be really daunting. So, but I think it's great. I love that he is open to it.
A lot of the Formula One guys are not open to IndyCar too much anyways, but I love it that he's
coming and it'll bring a lot of eyeballs on us and him and Ray Hall Lannigan. And I think it's
great. And I hope it continues. I really do. Yeah. Yeah. It's funny. We had Jimmy Johnson on the
program probably four and a half years ago talking about the transition that he made
from NASCAR to IndyCar. And he said, I underestimated just how, and especially with St. Pete,
how pummeled you get when you are inside these cars on a street course with the walls on top of
you like that. I think that the transition is oftentimes underestimated when you agree.
It is, it is something to not be trifled with. I mean, like you, it is a struggle to learn this
in a quick way. And then you have all these other veterans that have done this for six, eight,
10 years and they come out of the box on the button. Like there is no relief for you just
because you're a rookie. They're going to drive over the top. They're going to drive over the top
of you in the pit lane just getting out of your pit box. Like just getting out of the pit box.
I'm not kidding you. If you're a rookie, you don't understand the aggressive, how aggressive you
got to be just to exit your pit box. You will get run over. Just a few minutes left, Mike.
Thank you again for being on the program. You started as the founder grinding to keep the lights
on. I mean, unloading, you know, the trucks, you know, just a few years ago, as you said,
now you're leading a team with high profile co-owners, institutional backing, expectations,
Indy 500 victory. How has the transition changed how you define success personally?
Success. Ultimately, I still number one and this is probably a fault of mine a little bit. I look
at results, you know, I mean, not financial results and I need to look at that more. I look at on
track results. That drives everything. If we get the results on the track, everything else will
follow with using our brains some financially. So I pin everything on how we do that weekend
and then I move on. I forget about it. Even if we did well the weekend before, it's off to the
next. It's just a mentality. I think you have to have to push the group and push me. By the way,
that's just the way I am. And so is my partner, you know, Jim Meyer. It's just, it's great. We had
a great weekend. Let's go have a drink and celebrate. But man, you know, Monday, what happened? What
went wrong? What went right? Let's start analyzing where we go next. And I will, you know, Sunday
night, we'll start talking about Phoenix. We had a test there. What happened at Phoenix? What do we
do? You know, it happens Sunday night, this Sunday night and Monday. There'll be meetings.
And it's just this mentality that it's not, it's not good enough. You know, we got to keep pushing.
Are you more patient now? Have you chilled out like Chip said?
I know. No. But, but I, the best news is I see it now. I can see it in myself.
And my OCD has probably gotten worse as the older I've gotten. But, you know,
I can see where that could benefit a lot of people, just not me. Just not me, you know.
Has it shifted your long-term vision for the team?
Just the last couple of years? No, no, you know, no, I mean, we're always looking at
racing as a whole and how can we make a living at it with a bunch of people? You know,
do we need to look at other series NASCAR or anything in NASCAR? Do we need to look somewhere
else that we're not at? But, but mostly I just want to get perfect, perfected what we're doing now,
which is the IMSA Rolex sports car series and Indy car and get these cars where they deserve to be.
We have the staff for it and we have the drivers for it. And I just want everyone to, to, to get
a little juice out of all the work they put in, right? And obviously that happened when we won
the Indy 500 and it's lasted a very long time. But we need to keep, keep building on it. There's
never a better feeling in the world high-fiving people when you're in the fast six or on the
pole or you podium. I mean, it's just, it's just the best plane ride home on Sunday night.
Yeah. And last question when you were on the eve of the season, you look at the season ahead,
the future of Myershank racing as a growing enterprise. What excites you the most right now?
A couple of things I think I think the potential of the Indy car program, the way it sits right
now is really good. And I love the opportunity that I think some of these guys are going to
get this year. So I'm excited to see what everybody does with it. And, and also lastly,
the series in general and Indy car with the trajectory that we're on that you and I discussed
a little bit ago. It is new territory for me and it's really exciting. I'm really curious what we
do next. I said it at the outset. I think you've heard it now. Mike has created one of the most
respected organizations in the Indy car paddock and he's built it from scratch would be a way to
say it and the credit lines on the homes and everything else. You are an absolute shining
example of taking it from that the first floor to the top and we'll be we'll be watching with
great interest. Good luck at St. Pete. Good luck with this season and thank you for being a guest
on Cars and Culture. Love it anytime. Thank you. Big thanks to my guest again today, Mike Shank,
co-owner of Myershank Racing. To see more Cars and Culture interviews, visit the Cars and Culture
YouTube channel. Subscribe, comment, check out hundreds of conversations with the creators,
collectors and culture makers who are driving the industry forward. That's this week's episode
number 245. I'm your host Jason Stein. We'll see you again next time.
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