The sigh of relief could be heard throughout Miami today as Brazilian racecar driver Helio Castroneves was acquited on all 6 charges of tax evasion. The jurors proclaimed the two time Indy 500 winners innocence early this afternoon. The deliberations lasted almost 6 full days but finally went in the favor of the IndyCar star. His attorney (Alan Miller) as well as his sister (Katiucia Castroneves) were also found not guilty on the charges of tax evasion. Alan Miller was also acquited on the charge of conspiracy.

However, all is not rosy with the outcome for the Castroneves siblings. The charge of conspiracy was deadlocked by the jurors and leaves open the possibility of a retrial on that count. But for now, this painful episode is in the rear view mirror.

What does this mean for the #3 machine at the Grand Prix of Long Beach?

It means that HELIO WILL RACE!!! Breaking news shows that he will be the pilot of the #3 Team Penske entry for the weekend. As of this entry, there is no word on where that leaves Will Power who had been the fill in. Will Power will be in the #12 car since the regular driver of the #3 is back in business.

I will post again later this evening with a look ahead to the 35th Toyota Grand Prix of Long Beach as well as any more information I have on this developing story.

Give em’ HELL HELIO!

also follow me @ejwassonmsf on twitter for updates as well.

Helio Castroneves, the 33 year old Brazilian star and one of the most recognizable faces in the IndyCar Series, has received some horrible news. U.S. District Judge Donald Graham has rejected all requests for delaying the start of the trial for Tax Evasion charges against the racing phenom. The trial is set to begin in Miami on March 2nd, 2009.

This presents several challenges for Helio Castroneves, as well as his current employer, Penske Racing. Helio’s contract stipulates that he must be able to participate in each of the IndyCar Series events. The first race of the 2009 season is just one month after the start of the trial. The likelihood of a Federal tax evasion case being opened and closed within one month is unknown, but historically these can take several weeks, if not months, to come to a conclusion. If the verdict goes against the two-time Indianapolis 500 winner, appeals can lengthen the process even more.

Helio Castroneves and Penske Racing officials had requested the trial be delayed until November of 2009 to allow Helio to compete in the 2009 campaign. As of now, that is very much in question.

Publicly, Roger Penske has said he is behind their driver, but as the months get closer to the opening race the activity to replace the long-time Penske driver will have to begin. As one of IndyCar’s most successful racing teams, they will want to have a qualified candidate ready to roll off as the season begins if Helio Castroneves is not ready to be behind the wheel.

(Editor’s note: In related news, the Dancing With the Stars co-contestant of Helio Castroneves, Mark Cuban, has recently found himself in his own water. Cuban was recently charged with insider trading by the SEC.)

[tags]helio castroneves, tax evasion, dancing with the stars, indycar[/tags]