Steinbrenner Racing has joined forces with Harding Racing to run two cars driven by up-and-coming teenagers Colton Herta and Patricio O'Ward in next year's IndyCar Series, the teams announced on Wednesday.
Harding Racing has just finished its first full season IndyCar while Steinbrenner Racing, run by the grandson of former New York Yankees owner George Steinbrenner, competed in Indy Lights last year.
"I am extremely excited to make the leap into the IndyCar Series," said 22-year-old George Michael Steinbrenner IV.
"Since I was a kid, it has been my goal to be a team owner in the IndyCar Series and I'm so excited to be doing that with Harding Racing.
"They are a team that shares our values that they don't want to just be here, but to be a dominant mainstay in the series."
Harding Racing owner Mike Harding called the 2018 IndyCar season a "tremendous learning experience" and said he was eager to join Steinbrenner Racing to create a racing powerhouse.
"I believe Harding Steinbrenner Racing will quickly impress the IndyCar paddock ... Let's go racing!" Harding said in a statement.
The team boasts two of the most promising young drivers in the sport.
Mexican O'Ward, 19, won the Indy Lights championship this year after ending the season with nine wins and 13 podium finishes and set a new series record for pole positions in a season with nine.
Herta, 18, is the son of American Indy Car team owner Bryan and came in second Indy Lights with four wins, three pole positions and 13 podium finishes.