Giebler has a Indy 500 ride

Phil Giebler

Majority ownership of Playa Del Racing has been purchased by former Indiana Boxing Commissioner William T. Kelsey and Arizona businessman Eric Zimmerman and will be known as American Dream Motorsports.

American Dream Motorsports will attempt to qualify for the 92nd Indianapolis 500 with 2007 Chase Rookie of the Year Phil Giebler behind the wheel of the No.21 Honda-powered Panoz.

Former Playa Del Racing co-owner Susan Schafer will oversee American Dream Motorsports' Firestone Indy Lights program.

"It's an honor to be a part of the Indy Racing League under the new format," said Zimmerman, an Indianapolis native. "I truly value my new relationship with Susan Schafer."

Giebler qualified 33rd in 2007 and finished 29th after being involved in a single-car accident on Lap 106.

"It's hard to put into words what it means to return to the Indianapolis Motor Speedway for the Indy 500," Giebler said. "I had a huge learning curve in my rookie run last year, but I plan on this being a much better year. To say Indy is all I've thought about for the last 12 months would be an understatement." IndyCar.com