Ed Carpenter Racing is suing former sponsor Milton “Todd” Ault III, whose companies, including BitNile, were carried on ECR’s IndyCar Series entries from 2022-’24. The lawsuit is for alleged non-payment of a seven-figure sum owed to the team.
Reached by RACER, ECR team president Tim Broyles said “no comment” when asked about the matter.
“Yes,” Ault told RACER, confirming the legal proceedings. “I sponsored the team for a couple years, and in 2024 I didn’t think I could really do much for that year. It was important to me that ultimately I had a path to ownership, and in its most simplistic form, they sold the team to someone else. And my deal was tied to the idea that I would have naming rights and I would have ownership, and basically, the team was sold to someone else.”
ECR, which formed in 2011 and made its IndyCar Series debut in 2012, was owned by Carpenter, Carpenter’s stepfather Tony George, and Stewart Reed through the 2024 season when Ault-owned brands adorned the team’s Chevy-powered entries.
At the end of the 2024 season, ECR announced the addition of Ted Gelov to its ownership base. Gelov’s investment into the team, appointment as its chairman and co-owner, and primary sponsorship provided for all of ECR’s cars through his Heartland Food Products Group company coincided with the end of Ault’s involvement with the team.
According to Ault, the funds being sought by ECR are limited to last season’s involvement.
“They’re definitely seeking seven figures,” he said. “And I dispute it because it has to be adjusted based on the idea that I never signed the contract for 2024 because they would never put in writing, other than emails, that I had the path to ownership and to be able to partially name the team.”
Ault hopes to find an amicable end to the lawsuit.
“I love Ed Carpenter, and the 22 years he’s been at Indy and his family and everyone involved,” he added. “They’re all people that I care about, and I would hope to settle it with them, but the reality is, they sold the team to someone else, and there’s no path for me to have ownership there, so they’re going to have to figure out how to settle with me, because I didn’t sign a contract for ‘24 and they specifically wouldn’t give me one with naming rights and ownership. And so they want to get something that they have to adjust for, because at the end of the day, they sold the team to someone else. Now that being said, I’m sure we can settle it.”
After parting with ECR, Ault returned with two racing team engagements where his askROI company serves as the primary sponsor on the No. 18 Dale Coyne Racing Honda piloted by Rinus VeeKay in IndyCar, and the No. 60 Meyer Shank Racing Acura ARX-06 GTP car in IMSA’s WeatherTech SportsCar Championship.
Ault says the dispute with ECR will have no impact with his ongoing sponsorship programs in 2025.
“Absolutely not,” he confirmed. “I am committed to IMSA, and I’m committed to Indy. I love Indy. I’ve loved it since I was a little kid, and I’m committing to solving the problem with Ed. They just have to be honest with each other about the fact that I have no path to ownership and no path to naming the team.”
