Prema joined IndyCar this year with series rookie Robert Shwartzman and Callum Ilott.
The team’s first campaign was headlined by Shwartzman’s shock pole position effort at the Indianapolis 500. Ilott finished 21st in the championship while Shwartzman was 24th.
Rumours have persisted of financial trouble for the team, and its drivers are said to have explored alternative driving options for 2026 despite being contracted to Prema.
Ilott is reportedly eyeing up a return to the FIA World Endurance Championship or a move to the IMSA SportsCar Championship.
Ilott spent two IndyCar seasons with Juncos Hollinger Racing in 2022 and 2023 before moving to WEC with Jota in 2024 as part of its Porsche Hypercar program.
Ilott made a return to IndyCar in 2025 with Prema, scoring four top 10 finishes in a strong end to his third full season.
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Now he and Shwartzman may end up being forced out due to Prema’s apparent financial issues.
Prema is uniquely positioned as one of the few teams not chartered. Teams that are chartered are eligible for the Leaders Circle, which is paid to the top 22 championship finishers.
Amid rumours that the team may fold its IndyCar program, Boles said he is in contact with Prema boss Piers Phillips about plans for 2026.
“I talked to Piers at Prema last week. I know they’re working really, really hard to continue to be on the grid,” Boles told reporters during an IndyCar test at IMS on Tuesday (local time).
“All kinds of crazy rumours in the sport, as you know, especially in the off-season when we’re not racing, people dive into those rumours.
“I hear, like everybody else does, but so far, my conversations with Prema is they’re continuing to work on finding ways to make sure they’re on the grid.
“We’ll just stay in touch with him and we’ll see where it goes, but I don’t have any confirmation or any direct information to pass along.”
The aforementioned rumours have prompted suggestions someone like Michael Andretti could acquire the team. However, he shut that down on the same day that Boles spoke.
“Just to set the record straight, I have no intention what so ever to become an owner of an INDYCAR team,” he wrote.
Prema is motorsport’s pre-eminent F1 feeder series team, with entries in Formula 2, Formula 3, Formula 4, and Formula Regional competitions globally.
Prema’s IndyCar team is co-owned Rene Rosin by Deborah Mayer of Iron Lynx and Iron Dames fame.
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