Penske Corp. Completes Purchase Of IMS & IndyCar

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Penske Corp. Completes
The Indianapolis 500 has been moved to August as the result of the ongoing COVID-19 pandemic. (Al Steinberg photo)

INDIANAPOLIS – Penske Corp., a global transportation, automotive and motorsports leader, announced Monday that it has completed its acquisition of the Indianapolis Motor Speedway, the NTT IndyCar Series and IMS Productions.

“We are looking forward to carrying on the tradition of the Indianapolis Motor Speedway and Indy car racing,” said Roger Penske. “We have been diligently working with the teams at IMS, IndyCar and IMS Productions over the last two months to ensure a smooth and productive transition and we are ready to hit the ground running.

“Now, it is time to get to work as we continue the growth of the Speedway and we build on the momentum of the NTT IndyCar Series.”

The purchase of IMS, the NTT IndyCar Series and IMS Productions by Penske was announced Nov. 4, ending a decades-long legacy of ownership by the Hulman-George family.

Penske Corp. becomes just the fourth owner in the history of the famed Indianapolis Motor Speedway, which has hosted the world’s largest single-day sporting event – the Indianapolis 500 Mile Race – for more than 100 years.

Penske joins Carl Fisher, who built the track in 1909; Eddie Rickenbacker, who purchased IMS in 1927; and Tony Hulman and Hulman & Company, which has owned and managed the Speedway since 1945; as an owner of the historic race course.

The iconic venue has also hosted NASCAR, Formula One and other racing series events throughout its storied history.