"Peter has been on our radar since he was a competitor at Andretti Autosport last year," team owner Brian Belardi said. "We saw how immensely talented and quick he was, and mentally put him into consideration for the future. At the beginning of this season we had two great drivers fill our two full-time seats, so things just weren't right at the time.
"Unfortunately, this season has not worked out the way we had anticipated. With Peter now on our team, we expect this to be a step in the right direction. Everyone is looking forward to his first race with us in Toronto."
Dempsey made his debut in Firestone Indy Lights in 2011, splitting his time between O2 Racing and Andretti Autosport and earning four podiums. So far in 2012, Dempsey has competed in the Freedom 100 at Indianapolis Motor Speedway and the Detroit Belle Isle Grand Prix with Younessi Racing.
"First off, I want to thank the team, Belardi Auto Racing, Brian and (team manager) John (Brunner) for giving me this opportunity," Dempsey said. "As soon as one door closes, another opens, so I'm delighted to be given the opportunity to get back in the Firestone Indy Lights series and have a more solid deal than what I'm used to for the remainder of the season.
"Hopefully, I can bring my knowledge and experience to the team and put us up to the front as quickly as possible and challenge for a couple of good results. Definitely going into Toronto we want to be at the front, and I'd love to finish off the season with a couple of great finishes for the team. I'm really looking forward to Toronto. Jorge has been my teammate before so we should work well together, and we'll see how it goes."