Alex Palou’s management company, Monaco Increase Management, has released a statement saying it is ‘bitterly disappointed’ with the recent news surrounding his 2024 plans.
News came out on Friday that Palou does not intend to honor agreements made with McLaren in regards to the driver’s 2024 plans.
The revelation even sparked a response from Chip Ganassi, who is Palou’s current team owner, which was noteworthy due to the fact that he very rarely issues public comments about contracts with his drivers.
MIM’s statement seemingly confirmed that a deal was in place with McLaren for 2024, and implied that any relationship the company had with Palou has now been severed.
![Lando Norris and Oscar Piastri [McLaren] celebrate their 1-2 finish at the 2025 F1 Austrian GP](https://www.motorsportweek.com/wp-content/uploads/2025/06/Lando-Norris-Oscar-Piastri-McLaren-F1-2025-1-120x86.webp)
“Monaco Increase Management is bitterly disappointed to learn about Alex Palou’s decision to break an existing agreement with McLaren for 2024 and beyond,” read the statement.
“Together, we had built a relationship that we thought went beyond any contractual obligation and culminated in winning the 2021 Indycar crown and tracing a path to F1 opportunities.
“Life goes on and we wish Alex all the best for his future achievements.”
According to MIM’s website, the company manages contracts for multiple drivers including Pascal Wehrlein, David Vidales, and Lirim Zendeli.
Alex Palou’s name and face still appears prominently on the company’s site as of Saturday morning, confirming how unexpected his change of direction was, even to those involved in deciding his future.
Palou reportedly held a call with MIM as recently as Wednesday, two days before the latest dispute became public, and there were no indications he was deviating from their plans.
There will likely be more twists and turns in Palou’s latest saga, which looks to be as messy as his previous contract dispute last year.
