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Juncos Racing has named Ed Carpenter Racing IndyCar regular Spencer Pigot as the first driver for its Indianapolis 500 debut.

The Road to Indy ladder series outfit is contesting the race for the first time this month, having purchased assets from KV Racing Technology when it folded.

Pigot raced with Juncos to take the Pro Mazda and Indy Lights titles in 2014 and '15, and was set to miss the Indy 500 when Carpenter ruled out running a third car for him alongside his road-course deal.

"This is, hopefully, the next step in our successful relationship together," Ricardo Juncos said.

"I want to thank Ed Carpenter for allowing Spencer to take advantage of this opportunity."

Seven drivers were on the team's list for its two cars, with former Ganassi IndyCar driver and now Ford GT racer Ryan Briscoe coming close to a deal.

Sebastian Saavedra is now likely to drive Juncos's second car alongside Pigot, who made his Indy 500 debut last year Rahal Letterman Lanigan Racing.

"First I want to thank Ricardo for this opportunity," he said.

"We have had a long, successful relationship from karts to the Mazda Road to Indy series and hopefully we can repeat that success at Indy this month."