By: Tanner Watkins
November 4, 2019 | 9:00 AM
An absolute bombshell dropped on the open-wheel world this morning as Hulman & Company – the parent company of the Indianapolis Motor Speedway and the IndyCar Series – announce that the organization will be sold to Penske Corporation.
Later this morning – at 11:00 AM Eastern – there will be a press conference at the Speedway featuring Roger Penske (Chairman and Founder of Penske Corporation), Tony George (Chairman of Hulman & Company) and Mark Miles, the President and CEO of Hulman & Company.
While Roger Penske metaphorically owned the Indianapolis Motor Speedway previously, by way of his record 18 Indianapolis 500 victories as a car owner, he now literally owns the track, the series, and additionally, IMS Productions.
The sale of Hulman & Company is being made specifically to Penske Entertainment, a subsidiary of Penske Corporation.
We will have more details on today’s breaking news as the morning progresses. Stay tuned to Open-Wheels!
Header image by Tanner Watkins/Open-Wheels.com.