Indianapolis, IN (My Sportsbook) - Former Indianapolis 500 and IndyCar Series champion Dan Wheldon will return to Panther Racing six years after he made his series debut with the team.

Wheldon, who made his first IndyCar start with Panther at the Chicagoland Speedway in 2002, has signed a multi-year contract to drive the No.4 car. He'll replace Vitor Meira, who has been with the team since 2006.

"I'm very excited to be joining the entire Panther Racing crew," Wheldon said. "I know that we'll be fighting for outright victories, the Indianapolis 500 title and the league championship."

Target Chip Ganassi Racing announced Tuesday that Dario Franchitti will replace Wheldon in the team's No.10 car, starting in 2009. Franchitti, the 2007 Indianapolis 500 winner and IndyCar Series champion, will return to the open-wheel ranks after spending one season in NASCAR Sprint Cup and Nationwide Series competition.

Wheldon signed with Panther originally in June 2002 under a testing agreement. He drove for Andretti Green Racing from 2003 to 2005. After winning a series- record six races, including the Indy 500, and capturing the points title in '05, Wheldon left AGR for Ganassi the following year. His current teammate, Scott Dixon, recorded his sixth win of the season last month at Kentucky.

Wheldon, currently fourth in points, has two wins this season -- Kansas and Iowa. His 15 career victories rank him third all-time on the IndyCar wins list.

"Its hard to describe the level of excitement and emotions all of us at Panther have knowing that Dan has come back to drive for us," team managing partner John Barnes said. "I remember watching him drive for the first time in the Indy Lights series years ago, and I knew he was going to be a special talent. Since then hes become one of the best open-wheel drivers in the world, and for him to make his return to our team at the height of his racing career is a tremendous compliment to our team. I know hes excited about getting into the No.4 car for the first time, and we've got a tremendous future ahead of us."

Wheldon will drive the car for the first time in the October 26th Nikon Indy 300 exhibition race at Surfers Paradise in Australia.