Dragon Racing team owner Jay Penske was arrested on Thursday morning along with his brother Mark in connection with an alleged break-in at a property at the Nantucket Yacht Club in Nantucket, Massachusetts.
According to reports in the American media, the pair were arrested just before 2am on Thursday morning after allegedly running into a house following an altercation with two women in the yacht club's parking lot.
A police report cited by the newspaper states that the incident was initially reported as an assault and battery, although the women are said to have since told police that they do not wish continue with those charges.
The reports state that the brothers spent the night in the Nantucket Police Department's lock-up and were arraigned on charges of "breaking and entering with intent to commit a misdemeanor." Both were released on personal recognisance, with pretrial hearings scheduled for August 20.
Dragon Racing fields cars for Sebastien Bourdais and Katherine Legge.