Rahal Letterman Lanigan Racing is owned by retired Indy car champion and 1986 Indianapolis 500 winner Bobby Rahal, racing aficionado David Letterman and businessman Mike Lanigan.
The team traces its origin to the formation of Rahal/Hogan Racing in 1992, when Rahal realized a lifelong dream by forming his own race team. A three-time CART champion (1986, 1987 and 1992) as a driver, Rahal became the first rookie owner-driver in series history to capture a championship when he led his team to four victories and the season title in the its inaugural season.
Rahal concluded his Hall of Fame driving career in 1998 with 24 victories and 18 pole positions. He started 265 races and produced 177 top-10 finishes and 119 top-five finishes. Rahal, who was inducted into the International and U.S. Motorsports Halls of Fame in 2004, also captured the 24 Hours of Daytona and 12 Hours of Sebring.
Letterman, an Indianapolis native who has become a television icon, was a regular visitor to the Indianapolis Motor Speedway as a child. The host of the “Late Show with David Letterman” had casual discussions with Rahal since they met in 1986 about his interest in getting involved in racing as a participant. In early 1996, the talk transformed into an agreement as Letterman became a minority-interest owner in Team Rahal.
The team won the 2004 Indianapolis 500 with Buddy Rice behind the wheel.
In 2010, Lanigan joined the team. He's been involved in racing since 1992, when Mi-Jack (one of his companies) sponsored a young Belgian driver by the name of Eric Bachelart in CART. From 2001-06, Lanigan co-owned Mi-Jack Conquest Racing with Bachelart. He also was a partner in Newman/Haas/Lanigan Racing.