By: Tanner Watkins
January 6, 2020 | 1:15 PM
After initially announcing the sale of the Indianapolis Motor Speedway, the NTT IndyCar Series and IMS Productions on November 4, the transaction between Hulman & Company and Penske Corporation was finalized on Monday.
With the move, Penske becomes just the fourth owner of the Indianapolis Motor Speedway, following in the footsteps of Carl Fisher, Eddie Rickenbacker, and the Hulman-George family.
“We are looking forward to carrying on the tradition of the Indianapolis Motor Speedway and IndyCar racing,” said renowned businessman 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.”
In additional correspondence to the IndyCar faithful, Penske noted that changes around the Speedway were to be expected in not only the coming months, but years.
“You can expect to see a few changes in place at the Speedway this year as we are very focused on enhancing your experience at the track and making sure that the Indianapolis Motor Speedway continues to be one of the best entertainment venues in the world.”
Penske Corporation – the new owner of IMS, IndyCar and IMS Productions – boasts an annual revenue of more than $32 billion, managing a variety of businesses around the world. Of course, Penske also fields one of the most notable and successful race teams in the sport’s history, Team Penske, with entries in IndyCar, NASCAR, IMSA, and SuperCars.
Header image by Joe Skibinski/INDYCAR.