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INDIANAPOLIS, IN - Today at Indianapolis Motor Speedway, Verizon, Team Penske and the Indianapolis Colts announced a $6 million commitment to tackle veteran debt in Indiana over the next two years.

This initiative includes a $4 million collaboration with Team Penske during the Month of May. One million dollars in veteran debt relief has been committed for 2025, with an additional $1 million contingent on Will Power, driver of the No. 12 Team Penske Verizon Chevrolet, finishing in the top ten at the 109th Running of the Indianapolis 500. An additional $2 million in debt relief will be provided in collaboration with the Indianapolis Colts over the next two seasons.

"This partnership between Verizon, Team Penske and the Indianapolis Colts represents a unique opportunity to address veteran debt relief while showcasing innovation and excellence.  Together, we aim to make a lasting impact on the lives of the veterans across Indiana, both on the racetrack and in the community, " said Andy Brady, President of Verizon's Great Lakes Market.

Significant Technology Investment Powers the Racing Experience

As part of this commitment, Verizon has made a significant technological infrastructure at Indianapolis Motor Speedway.  This investment includes:

• Comprehensive upgrade to the Distributed Antenna System (DAS).
• Modernization of all wireless capabilities with new 4G equipment and addition of 5G coverage across 71 zones throughout the facility.
• Enhanced high-capacity antennas to support the massive data demands during race events.
• Improved connectivity at main gate areas to streamline ticketing and enhance the fan entry experience.

These technological advancements ensure that fans, teams and media can stay connected throughout the race events while enabling innovative new racing applications and improved spectator experiences.

"Verizon has always been a leader in innovation and a company that makes a difference in people’s lives. Verizon’s commitment to helping veterans through this debt relief initiative is a testament to their values and dedication to creating positive change. At Team Penske, we are proud to stand with Verizon in supporting those who have served our country and creating meaningful change for our veterans," said Roger Penske, Founder and Chairman of Team Penske.

The 109th Indianapolis 500 presented by Gainbridge is scheduled for Sunday, May 25 at IMS. Fans can tune into the FOX network broadcast beginning at 10 a.m. as 2018 winner Power attempts to win his second Indy 500 and secure another $1 million in debt relief for central Indiana veterans.  

“Verizon’s dedication to innovation and reliability is second to none, and the Indianapolis Colts are honored to partner with a brand that truly takes care of its community.  This collaboration represents the best of what teamwork and shared values can achieve, supporting those who have served our nation while making a lasting impact across Indiana,” said Carlie Irsay-Gordon, Vice Chair/Owner of the Indianapolis Colts.

Veteran Debt Relief

As part of its ongoing commitment to supporting veterans, Verizon continues its initiative to relieve debt across the Great Lakes region through its partnership with ForgiveCo. Building on previous successes, Verizon is now focusing on Indianapolis, aiming to alleviate up to $6 million in veteran debt.  This effort is part of a broader $22 million debt relief program across Great Lakes over the next two years.  In 2024, Verizon successfully relieved more than $4 million in debt for over 4,800 veterans.

"At Verizon, we believe in honoring our veterans not just with words, but with action.  Relieving up to $6 million in veteran debt in Indianapolis is a testament to our dedication to providing meaningful support to those who have given so much for our country," said Brady.

Those receiving this debt relief will be contacted by ForgiveCo., a company that identifies and handles the clearing of debt for veterans in need. There is no enrollment process for eligibility.

Verizon currently employs more than 8,000 veterans nationwide and is nationally recognized as a Military Friendly company for seven years in a row.

Verizon also provides special offers and discounts to veterans and military members across the nation, allowing them to save on mobile or home internet plans. To check for discount eligibility and to get started, visit verizon.com/military or visit a local participating Verizon store for details.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) powers and empowers how its millions of customers live, work and play, delivering on their demand for mobility, reliable network connectivity and security. Headquartered in New York City, serving countries worldwide and nearly all of the Fortune 500, Verizon generated revenues of $134.8 billion in 2024. Verizon’s world-class team never stops innovating to meet customers where they are today and equip them for the needs of tomorrow. For more, visit verizon.com or find a retail location at verizon.com/stores.

ForgiveCo is a Public Benefit Corporation that provides business advisory services to corporations, non-profits, and brands for the acquisition, administration, and cancellation of consumer debt, and advisory services in the fields of branding, goodwill creation, and bulk debt management – Transforming debt into goodwill. ™ To learn more about ForgiveCo, please visit forgiveco.com and follow ForgiveCo on all major social media channels.

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