IndyCar News: Graham Rahal company sued over Mercedes deal

The Indy Star newspaper reports that longtime IndyCar driver Graham Rahal’s company, Graham Rahal Performance LLC, is being sued for allegedly failing to procure and deliver a limited-edition Mercedes Project One, then failing to return the deposit for the vehicle.

Rahal’s company serves as a dealer and broker of high-end, limited-edition performance vehicles. The company is separate from Rahal Letterman Lanigan Racing.

Plaintiff IRB Capital Holdings LLC filed the complaint against Graham Rahal Performance LCC on Oct. 3, according to documents out of the Indiana Commercial Court obtained by Indiana Lawyer. IRB is suing for breach of contract, account stated, quantum meruit/unjust enrichment, and rescission.

In the lawsuit, IRB says it and GRP committed to a purchase and allocation agreement for GRP to deliver a limited-edition Mercedes Project One, also known as a Mercedes AMG-One, in March 2019. Mercedes-Benz only planned to make 275 of that specific vehicle, according to the lawsuit, and IRB paid GRP $1.2 million of a deposit to secure the car and deliver it to the Montana-based company.

Over five years later, IRB says in the lawsuit that Graham Rahal’s company has not gotten the vehicle promised and has no plan to secure it at this time.

Graham Rahal allegedly told IRB principal Israel Bernal in March 2024 that GRP would return the $1.2 million deposit amount, but that has not yet happened, despite Bernal’s consistent ask for updates.

In a statement to IndyStar, general counsel for GRP said, “Graham Rahal Performance LLC denies the allegations in the complaint and intends to vigorously defend itself.”

IRB Capital Holdings LLC could not be reached for comment by the Indy Star.

This article originally appeared on Indianapolis Star: Graham Rahal’ company sued for failing to procure limited-edition Mercedes