New IndyCar team in the works

UPDATE We have learned that this new team is a collaboration between AJ Foyt Racing and NASCAR team BAM Racing, which was formed by Beth Ann Morgenthau and her husband Tony, investment bankers from Coral Gables, FL. The goal of combining the resources of A.J. Foyt Racing and BAM Racing is to create the quintessential American team as well as a championship caliber program, something that has been lacking with Foyt's team in recent years.

The team will start as a single car team and expand to a two car effort later this year.

02/10/11 Rumor has it that a new IndyCar team is in the works and will be associated with AJ Foyt. We hear it will be called BamFoyt Racing and will run car no. 49. No word on who the driver is yet.