Verizon, Team Penske, Colts Pledge $6 Million for Veteran Debt Relief
In a groundbreaking collaboration to address veteran debt relief and showcase technological innovation, Verizon, Team Penske, and the Indianapolis Colts have announced a $6 million commitment to help veterans in Indiana over the next two years.
This initiative, unveiled at the Indianapolis Motor Speedway, features significant contributions and technological advancements designed to improve the racing experience and support the veteran community.
Driving Innovation and Tackling Veteran Debt Relief
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At the Indianapolis Motor Speedway, Verizon, Team Penske, and the Indianapolis Colts announced a substantial $6 million commitment to tackle veteran debt in Indiana over the next two years.
This initiative is part of a larger $22 million debt relief program across the Great Lakes region. The collaboration includes:
- $4 million collaboration with Team Penske during the Month of May
- $1 million in veteran debt relief committed for 2025
- An additional $1 million if Will Power, driver of the No. 12 Verizon Team Penske Chevrolet, finishes in the top 10 at the 109th Running of the Indianapolis 500
- $2 million in debt relief 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,* said Andy Brady, president of Verizon’s Great Lakes Market.
*Together, we aim to make a lasting impact on the lives of veterans across Indiana, both on the racetrack and in the community.*
Significant Technology Investment Powers the Racing Experience
As part of this commitment, Verizon has made a significant technological infrastructure investment at the Indianapolis Motor Speedway.
This ensures fans, teams, and media can stay connected throughout race events. The 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
*Verizon has always been a leader in innovation and a company that makes a difference in people’s lives,* said Roger Penske, founder and chairman of Team Penske.
*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.*
The 109th Indianapolis 500 and Its Impact
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. ET as 2018 winner Will Power attempts to win his second Indy 500 and secure another $1 million in debt relief for Central Indiana veterans.
Verizon’s Broader Commitment to Veterans
Verizon’s initiative to relieve debt is part of its ongoing commitment to supporting veterans, in partnership with ForgiveCo.
This effort builds on previous successes, such as the relief of more than $4 million in debt for over 4,800 veterans in 2024. The current focus is on Indianapolis, aiming to alleviate up to $6 million in veteran debt.
*At Verizon, we believe in honoring our veterans not just with words, but with action,* Brady said.
*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.*
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, making it easier for veterans to receive the support they deserve.
Verizon’s Commitment to Military and Veterans
Verizon currently employs more than 8,000 veterans nationwide and has been nationally recognized as a Military Friendly company for seven years in a row.
The company 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’s military page or visit a local participating Verizon store for details.
Conclusion
This collaboration between Verizon, Team Penske, and the Indianapolis Colts shows how corporate partnerships can help communities. They are working to address veteran debt relief and improve the racing experience with new technology.
These organizations are making a positive impact on veterans in Indiana. As the 109th Indianapolis 500 approaches, the excitement extends beyond the race to the support for those who have served our country.
For more information on this initiative, visit the official announcement.
