Rahal has driven for the team co-owned by IndyCar legend Bobby Rahal, David Letterman and Mike Lanigan since 2013 and has earned six wins, 27 podium finishes and 48 top-5 finishes in his Indy car career to date.

He finished top-six in the points standings for the last three IndyCar seasons.

“It’s nice to continue the consistency we’ve had in the program,” said the junior Rahal. “All of this is thanks to the sponsors that have given our team the stability to allow me to sign for five years.

“Obviously that is a long time. For me as a driver, it’s great to have that commitment and it’s great for our sponsors in terms of long-term planning and obviously due to their current commitment this was possible.

“It’s always been a dream of mine to win the Indy 500 with this team – my dad, Mike and Dave. We have been able to win races together and hopefully we will be able to add many more wins going forward.”

Said Lanigan: “I have had Graham drive for me since he was 17 years old in the Atlantic Series. He has won in every series we have participated in together and I am very pleased to work together for the next five years. He is, and has grown to be, the most complete professional both on and off the race track and I am very proud to have him on board for many more years to come.”

The 29-year-old currently lies seventh in the championship.