IMS, Colts, Team Penske, Verizon team up to help veterans with debt relief

INDIANAPOLIS – The Indianapolis Motor Speedway, Indianapolis Colts, Verizon and Team Penske are joining forces to help veterans tackle debt.

The program is committed to clearing $6 million in debt for veterans over the next two years.

Team Penske is committing $4 million to the initiative during the Month of May. It includes a $1 million donation for 2025, with an additional $1 million added if Will Power finishes in the top 10 during this year’s Indianapolis 500. Another $2 million in debt relief comes in collaboration with the Indianapolis Colts.

“This partnership between Verizon, Team Penske and the Indianapolis Colts represents a unique opportunity to address veteran debt relief while showcasing innovation and excellence,” said Andy Brady, president of Verizon’s Great Lakes Market. “Together, we aim to make a lasting impact on the lives of the veterans across Indiana, both on the racetrack and in the community.”

As part of the initiative, Verizon made a “significant technological infrastructure” investment at IMS. It includes an upgraded antenna system and modernization of wireless coverage throughout the track.

The upgrades are designed to keep race fans, teams and media better connected during events.

“Verizon has always been a leader in innovation and a company that makes a difference in people’s lives,” said Roger Penske, founder and chairman of Team Penske. “At Team Penske, we are proud to stand with Verizon in supporting those who have served our country and creating meaningful change for our veterans.”

Verizon is helping facilitate relief through ForgiveCo, a company that helps clear debts for veterans in need. There is no enrollment process for eligibility. The effort is part of the company’s broader debt relief program in the Great Lakes region.