Roger Penske buys Indianapolis Motor Speedway, IndyCar Series

[Mook]

Penske buys Indianapolis Motor Speedway, IndyCar Series

Roger Penske was a car-loving, 14-year-old who regularly listened to the Indianapolis 500 on the radio when his father landed tickets to the 1951 race.

apnews.com

Indianapolis Motor Speedway and the IndyCar Series were sold to Penske Entertainment Corp. in a stunning move Monday that relinquishes control of the iconic speedway from the Hulman family after 74 years.
Tony Hulman bought the dilapidated speedway in 1945 and brought racing back to the corner of 16th St. and Georgetown Ave. after a four-year absence following World War II. Roger Penske will become just the fourth owner of the 110-year-old speedway.
The speedway spun off multiple subsidiaries, including the IndyCar Series and Indianapolis Motor Speedway Productions, which are also part of the deal to Penske Entertainment. That group is a subsidiary of Penske Corp., which is owned by billionaire Roger Penske.

“Great day for our family and our team,” Penske said in a text message to The Associated Press.

The IndyCar Series is on an upward trend with improved television ratings and increased interest. Penske is the winningest team owner in Indianapolis 500 history with 18 victories, including Simon Pagenaud’s win in May. He capped the IndyCar Season with a championship from driver Josef Newgarden, the 15th for the Team Penske organization.

The speedway is to discuss the deal in a news conference Monday. The sale is expected to close in early January, according to a document of message points sent to IndyCar teams on Monday, a copy of which was obtained by the AP.
“We have found the ideal steward of the company and its iconic assets,” the document states. “Penske Corporation — with its 64,000-plus employees and more than $32 billion in consolidated revenue — will bring tremendous energy, leadership and resources to IMS, IndyCar and IMSP.

“For a number of years, the Hulman & Company management and board have engaged outside advisers and experts to consider the full range of strategic options available. Ultimately, it was decided to focus on the possible sale of the company and finding a buyer that would be the best steward of the company and its iconic assets.”

The document states Penske Corp. approached the Hulman board in the fall about the purchase.

Support from rival team owners was immediate. Chip Ganassi said Penske called him early Monday morning before the sale was announced to inform him, adding “the place is going to be run like a business now.”

Michael Andretti called it “positive news” for the series and the speedway.

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[Spivitz]

Dam, he obviously has Dat money

 

[RICH17]

Do people actually watch indycar?

 

[cdh027]

Penske stacks. He must be a member of TCG.

 

[CHI2000GTP]

I don't think many people watch NASCAR at all, but who knows. During the NFL games last night I noticed a change in how they market NASCAR. The commercial was saying to watch the NASCAR Playoffs. Never heard them called "Playoffs" before. I bet they're marketing gurus decided that it would be a good move and bring NASCAR into the lingo of the other immensely popular sport markets and get the hype around Playoffs going. Like a NBA Playoffs or March Madness hype energy.

 

[Gav'sPurpleZ]

I don't think many people watch NASCAR at all, but who knows. During the NFL games last night I noticed a change in how they market NASCAR. The commercial was saying to watch the NASCAR Playoffs. Never heard them called "Playoffs" before. I bet they're marketing gurus decided that it would be a good move and bring NASCAR into the lingo of the other immensely popular sport markets and get the hype around Playoffs going. Like a NBA Playoffs or March Madness hype energy.

NASCAR is on NBC in the fall, so that's why you see the promos
Similarly to how FOX is now promoting Friday Night Smackdown because SD is now on FOX.

I watch the Indianapolis 500 and thats it for Indy car.
PENSKE has the cash, let him invest it

 

[CMNTMXR57]

They switched to that "playoff" format back in 2004... I'm not an avid NASCAR fan anymore, but it was then called "Chase for the Championship" or something along those lines.

As to Penske, I just went looking for jobs with the organization after spending 1,500 miles driving one of his trucks. U-haul sucks after this. All these Penske trucks are new, diesel, clean, well maintained, etc. I was impressed. You may pay more, but you get a hell of a lot more.

 

[Gav'sPurpleZ]

My buddy drives for blackhorse carriers out of Elk Grove, any time they have a truck down, they take it to Penske and Penske gives them a loaner truck.
So I'm sure it's a huge contract worth alot of $$ but sounds like they have a solid gig.
Around the clock diesel mechanics and parts guys etc.

I'm in the wrong business

 

[Bru]

That’s crazy. Dude just buys an entire racing series

I don’t follow as closely as Nascar or F1, but there have been some great races in IndyCar recently. Their car model is pretty good and looks to have allowed for some close racing.

 

[Mook]

Maybe this will mean F1 coming back to Indy?

 

[stock-t-bird]

PENSKE Racing will turn/revive this track into a his "gold mine",he should/ will bring back all racing series.Instead of 3-4 races a year...
he is an investor & knows his goals...INDY car Series is not bad to watch if you follow it & follow the drivers,it beats NAPCAR races....give it a try next year...if it happens...I expect huge results
Expect a lot of events if it happens.$$$$$$

 

[Thirdgen89GTA]

Wish he'd buy Meadowdale raceway in Capentersville, fix it up, and bulldoze all the houses so we can have another great track close by.

Meadowdale International Raceway · Carpentersville, IL 60110

★★★★★ · Racecourse

goo.gl

 

[Mr Baytchos]

Maybe this will mean F1 coming back to Indy?

Hopefully this, and MotoGP