IndyCar releases 2018 Verizon Series schedule

Sebastien Bourdais in qualifying for the Champ Car World Series Grand Prix of Portland in 2006

Sebastien Bourdais in qualifying for the Champ Car World Series Grand Prix of Portland in 2006

Portland city officials will announce at 11 a.m. Thursday, Oct. 12, that the Verizon IndyCar Series will return to Portland International Raceway for an event to be held on Labor Day Weekend of 2018.

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The race will be the second-to-last in the IndyCar series, in which drivers race at speeds in excess of 200 miles per hour and compete for a $1 million prize.

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Between 1984 and 2007, sanctioned races from either Championship Auto Racing Teams (CART) or Champ Car World Series were held at PIR. Speeds at the Portland race will be slower, around 180 miles per hour, due to the track's curves. Notable drivers such as Al Unser, Jr., Mario and Michael Andretti, Bobby Rahal, Emerson Fittipaldi, and Alex Zanardi won at Portland International Raceway over the years.

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"Having the premier open-wheel series in the United States brings not only the excitement to thousands of fans, but also terrific exposure for the city of Portland, tens of thousands of visitors, and millions of dollars of revenue for the city as well", said Portland Mayor Ted Wheeler. The Portland-based Rose Cup Races have taken place every year since 1961. That includes a rental fee, capital improvements the companies will make to the track and a payment to a community benefit fund.

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