IndyCar News: Ed Carpenter Racing takes on new co-owner

Indianapolis businessman Ted Gelov, owner of Heartland Food Products Group, has joined Ed Carpenter Racing (ECR) as co-owner of the team.

Additionally, the new partnership will bring Heartland FPG’s iconic brands, Splenda (www.Splenda.com) and Java House (www.Javahouse.com), together with Ed Carpenter Racing as the team begins preparations for the 2025 NTT INDYCAR SERIES season.

Gelov and Heartland are positive additions for the Indianapolis-based team.

“INDYCAR is growing and attracting high caliber brands and in Ted’s case, also a strong business partner for our team,” said Ed Carpenter. “Ted (Gelov) will help us to continue to strive for excellence both on and off the track.”

Gelov, owner of Heartland, expressed excitement for the new partnership.

“We manufacture all our products here in Indiana and employ over 1,200 people,” said Gelov. “We are committed to the Indiana community and are extremely excited to continue that by joining Ed Carpenter Racing. I am ready to do my part to help Ed (Carpenter) and ECR in any way we can to get on the podium and win races!”

He continued, “Ed (Carpenter), Tony George, and Stuart Reed have all been wonderful to me through this process. They have welcomed my family and I into their family. Ed is an incredible guy, in all respects, and someone you are drawn to be associated with. He embodies the ideals that I look for in a partner.”

Heartland FPG is best known for their consumer brands Splenda and Java House Coffee. The Splenda® Brand is the most recognizable and iconic low-calorie sweetener brand in the world, having sold more than 100 billion yellow packets since its launch in 1991. Java House, an innovative cold brew coffee brand, is known for amazingly smooth coffee and versatile Peel n Pour™ single serve beverages. Java House also owns and operates cafes in the Indianapolis and Lafayette, IN markets.

Carpenter (Pictured) quickly knew Gelov and Heartland would be the right fit for ECR.

“It’s fantastic to find a partner that so closely aligns with our values and shared vision for the future of Ed Carpenter Racing,” Carpenter added. “We also plan on having a Java House or Splenda car on track next season, which would be special for us to work with one of our own brands. There is more to come!”

2025 will mark ECR’s 14th season of competition in the NTT INDYCAR SERIES. The stable of the No. 20 and No. 21 Chevrolet will return to the paddock with an updated lineup, with an announcement planned for tomorrow afternoon. The Streets of St. Petersburg, Florida will host the 2025 season opener on March 2nd.