Roger Penske Buys IndyCar, And The Famed Indianapolis Motor Speedway
The Penske name has always been synonymous with racing. Many are aware that the ...
The Penske name has always been synonymous with racing. Many are aware that the family has been involved in NASCAR racing for quite some time. They’ve risen to become one of the most popular families in the promotion since the 1970s. However, their run with IndyCar racing goes back all the way to the 60s.
Today, they take an even bigger step into the world of IndyCar. In fact, Penske has become the world of IndyCar. In an announcement this morning, we would learn that they would become the controlling interest in the brand.
“The Board of Directors of Hulman & Company announced today that it has entered into an agreement to be acquired by Penske Corporation, a global transportation, automotive and motorsports leader. Penske Entertainment Corp., a subsidiary of Penske Corporation, will acquire all Hulman & Company principal operating assets, including the Indianapolis Motor Speedway, the NTT IndyCar Series and IMS Productions,” a release from Indianapolis Motor Speedway cited.
Tony George, Chairman of Hulman & Company, spoke on the matter, saying “The Indianapolis Motor Speedway has been the centerpiece and the cathedral of motorsports since 1909 and the Hulman-George family has proudly served as the steward of this great institution for more than 70 years. Now, we are honored to pass the torch to Roger Penske and Penske Corporation, as they become just the fourth owner of the iconic Speedway.”
Penske isn’t new to race track ownership, either. Indianapolis Motor Speedway will be added to the list of 13 active race tracks owned by the brand. Having already cemented 19 of 36 NASCAR races at their facilities, this move will give Penske an even more dominant market share in the sport. In turn, we find it is only fitting that such a story racing facility ends up going to a family with such a rich racing history.