IndyCar chief executive Mark Miles believes the American motor racing series will announce a new title sponsor before pre-season tests in February.

“I’m optimistic that we’ll have everything finalised by the time we get cars back on track in February,” Miles told the Indianapolis Star this week.

Miles said he is in talks with two brands for the title rights, which have been on the market since telecoms company Verizon opted not to renew its five-year deal, from 2014 to 2018.

Miles told the Star in June that he hoped to confirm a new partner by the end of the 2018 season, which concluded in September.

For analysis from SportBusiness Sponsorship of the Verizon deal, read: ‘Verizon gets IndyCar for lower cash fee than Izod’