AJ Foyt signs Conor Daly and Carlos Munoz for 2017 IndyCar season

American Daly switches from Dale Coyne Racing after his rookie season, while Munoz, who finished second in this year's Indianapolis 500, moves across from Andretti Autosport to take over the team's flagship #14 entry previously driven by ex-F1 racer Takuma Sato.

"Both of our drivers are very young and they've got their whole future ahead of them," said team owner AJ Foyt, who turns 82 in January.

"I'm looking forward to being a part of that future."

Daly's car, driven by Jack Hawksworth for the last two years, will be based out of Indianapolis this season in a facility just a few blocks away from the Indianapolis Motor Speedway. The #14 entry will be fielded out of Foyt's longtime racing shop in Waller, Texas.

The move to Indianapolis of the #4 team marks the first time that AJ Foyt Racing will base a team there after Foyt purchased the property on Main Street in October 2014.

"I am thrilled to be reunited with AJ Foyt Racing for the 2017 season," said Daly, who made his IndyCar debut with the team in the 2013 Indy 500.

"Now we get an opportunity to compete as a team for the full season and I couldn't be happier.

"It will also be very special to me as an American to be in a red, white and blue ABC Supply machine.

"This will be a great opportunity for me to continue building my IndyCar career."

Munoz, who has one victory to his name from Detroit in 2015, added: "I am really excited about this new chapter in my professional career.

"I'm looking forward to driving the #14 car, which has so much history, and working with Larry [Foyt] and his dad AJ, who is a legend in auto racing.

"One of my main goals is to be an Indy 500 champion and I know they want to win another one so hopefully we can do it together.

"It is a whole new package for AJ Foyt Racing in 2017 plus the team is adding some new personnel, and we will be pushing hard to be competitive every time out. I can't wait to get started."

Team president Larry Foyt said the amount of changes taking place will result in a busy winter.

"There are many moving parts as we grow and continue to strengthen our weaknesses as a team," he said.

"I can't remember a time when IndyCar has been this competitive from top to bottom, so we know we have to work around the clock this winter to meet our goals before the season starts.

"We've had a great deal of changes in a short amount of time, but the team is committed and the group as a whole is moving in the same direction."