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Former Indianapolis 500 winner Jacques Villeneuve ready to jump back into IndyCar

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FILE - In this May 28, 1995 file photo, Jacques Villeneuve celebrates in Victory Lane after winning the Indianapolis 500 auto race in Indianapolis. Villeneuve is expected to finally compete for a second Indianapolis 500 crown. On Wednesday, Feb. 26, 2014, the 42-year-old Canadian driver is expected to be announced as a driver for Schmidt Peterson Motorsports this May. (AP Photo/Al Behrman, File)The Associated Press

Jacques Villeneuve will finally get a chance to win a second Indianapolis 500.

Almost two decades after winning his first title, the 42-year-old Canadian will return to the historic 2.5-mile oval in May, driving for Schmidt Peterson Motorsports. The official announcement came Wednesday.

In 1995, Villeneuve won the 500 and the CART championship but hasn't started an IndyCar race since then.

He left for Formula One after the '95 season where he competed from 1996 through 2006. He won the world championship in 1997, then moved to stock cars in 2007and has run in a variety of series including Sprint Cup, Nationwide and Le Mans as well as sports cars.

In two IndyCar seasons, Villeneuve won six poles and five races. This year's 500 is scheduled for May 25.