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Penske Corporation Buying IndyCar And Indianapolis Motor Speedway from Hulman & Company

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Indianapolis Motor Speedway

INDIANAPOLIS, IN (Pittsburgh Racing Now) – The winningest car owner in the history of the Indianapolis 500 is buying the Indianapolis Motor Speedway, the NTT IndyCar Series and IMS Productions.

The Board of Directors of Hulman & Company announced on Monday 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  the track, series and production company following government approvals.

“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,” said Tony George, Chairman of Hulman & Co.  “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.  There is no one more capable and qualified than Roger and his organization to lead the sport of IndyCar racing and the Indianapolis Motor Speedway into the future.”

George and his family recently decided that it was time to sell the Speedway and reached out to Penske following the conclusion of the 2019 IndyCar season.  The acquisition by the Penske organization will carry the future of the legendary Speedway and the Indycar Series forward for the next generation of racing fans.

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“My passion for racing began at the Indianapolis Motor Speedway in 1951 when I attended the Indianapolis 500 with my father,” said Penske.  “We have so much respect and appreciation for the history and tradition of the Speedway and the sport of IndyCar racing.  I want to thank Hulman & Company for the opportunity to build on this legacy and it will be an honor for Penske Corporation to help lead these great institutions forward into a new era.”

Penske Corporation has a history of managing major motorsports properties, beginning with the acquisition of Michigan International Speedway from bankruptcy in 1973.  Penske and its subsidiaries also operated the Grand Prix of Cleveland, Nazareth Speedway and California Speedway.  Penske Corporation currently operates and promotes the Detroit Grand Prix at the Belle Isle Park street circuit.

Carl Fisher built the Indianapolis Motor Speedway in 1909.  Eddie Rickenbacker purchased the Speedway in 1927 before selling it to Tony Hulman and Hulman & Company in 1945.

The announcement comes one year-and-a-day after the passing of Mari Hulman George, the only daughter of Tony Hulman and Mary Fendrich Hulman.  Mari Hulman George, Tony George’s mother, passed away November 3, 2018.

Penske expects the sale to close in January of 2020.

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Josef Newgarden Leads Day 2 Of Indy 500 Testing

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Photo: James Black

INDIANAPOLIS, IN (Pittsburgh Racing Now) – Sunny skies and better weather conditions contributed to higher speeds in Day 2 of open testing at the Indianapolis Motor Speedway in preparation for next month’s 105th running of The Indianapolis 500 presented by Gainbridge.

Team Penske’s Josef Newgarden topped the speed chart with a fast lap of 226.819 mph in the No. 2 Chevrolet. That easily eclipsed the 224.427 top speed from the rain-hampered first day on Thursday that was set by Sebastien Bourdais in the No. 14 AJ Foyt Racing Chevrolet.

“It was a pretty good day,” said Newgarden. “I was happy enough with the car. I think we still need some work, for sure, but to just get an initial read on where we’re at is good. Obviously, there are a lot of new parts and differences to the last couple of years, so we’re just trying to assess what we need to really work on these last couple of weeks before we get back here in May. But I’m pretty happy.”

Two-time and reigning Indy 500 winner Takuma Sato was second on the speed chart at 226.369 in the No. 30 Rahal Letterman Lanigan Racing Honda.

Two-time 500 winner and 1999 CART Champion Juan Pablo Montoya was third quickest at 226.123 in the No. 86 Arrow McLaren SP Chevrolet.

“Today was good,” said Montoya. “We worked through a lot of things. We found a lot of good things and a lot of bad things like you always do.  It was nice to get back a little bit in the draft. A lot to catch up again and learn and understand again what you need to do and the timing.  Everybody at Arrow McLaren SP has done a great job and this test has been very, very, useful.”

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6-time and defending NTT INDYCAR SERIES Champion and 2008 Indy 500 winner Scott Dixon was fourth fastest in the No. 9 PNC Bank Chip Ganassi Racing Honda with a fast lap of 225.906.

Rahal Letterman Lanigan Racing’s Graham Rahal rounded out the top five with a fast lap of 225.644 in the No. 15 Rahal Letterman Lanigan Racing Honda.

The 105th Indianapolis 500 presented by Gainbridge is scheduled for Sunday, May 30 at IMS.

The green flag drops on the 2021 NTT INDYCAR SERIES with the season opening, Honda Indy Grand Prix of Alabama presented by AmFirst on Sunday, April 18 at Barber Motorsports Park in Birmingham, Alabama. NBC and the INDYCAR Radio Network will provide live coverage starting at 3 p.m. (ET).

INDYCAR Practice 3

INDYCAR ROP 2

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Sebastien Bourdais Quickest In Day 1 Of Indy 500 Testing

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Photo: Chris Jones

INDIANAPOLIS, IN (Pittsburgh Racing Now) – A.J. Foyt Racing’s Sebastien Bourdais was the fastest of 32-drivers who took part in the first of two days of testing for the 105th running of the Indianapolis 500 presented by Gainbridge.

Bourdais turned a fast lap of 224.427 mph late in the day during the Veteran Refresher and Rookie Orientation Programs.  Bourdais was required to complete the refresher because he did not compete in ‘The Greatest Spectacle In Racing’ in 2020.

“Pretty good refresher for the A.J. Foyt No. 14,” said Bourdais, a four-time open wheel Champion. “That ROKiT car was pretty good. It always feels a little different when you start at low speeds and the car’s never really settled, but we got through both phases and are ready to go tomorrow and start working properly. It’s all good.”

Conor Daly was the second-fastest driver overall and the fastest in the 90-minute morning session before heavy rain arrived in Indianapolis. Daly’s top lap was 222.714 in the No. 47 U.S. Air Force Ed Carpenter Racing Chevrolet.

Sage Karam was third overall at 222.408 in the No. 24 Dreyer & Reinbold Racing Chevrolet.

6-time and reigning NTT INDYCAR SERIES Champion Scott Dixon was third fastest in the morning session in the No. 9 PNC Bank Chip Ganassi Racing Honda.  Dixon’s fast lap was 220.575 mph.

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2020 NTT INDYCAR SERIES Rookie of the Year Rinus VeeKay suffered a broken finger in a crash in Turn 1 just 11 minutes into track activity in his No. 21 Sonax/Autogeek Ed Carpenter Racing Chevrolet.

Rain halted the opening veterans-only session at 12:30 p.m. (ET). A second heavy shower around 3:15 p.m. delayed track activity until the track reopened at 6:03 p.m. under blue skies and sunshine.

Track activity will take place from 9 a.m.-6 p.m. (ET) Friday, with live broadcast coverage on Peacock. Rookie Orientation and refresher tests will take place from 9-10 a.m., with veterans back on track from 10-11 a.m. The track will open for all drivers from 11 a.m.-6 p.m.

The 105th Indianapolis 500 presented by Gainbridge is scheduled for Sunday, May 30.

INDYCAR Practice 1

INDYCAR Rookie:Veteran Practice

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Indy 500 Testing Thursday And Friday At The Indianapolis Motor Speedway

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Photo: Walt Kuhn

INDIANAPOLIS, IN (Pittsburgh Racing Now) – Thirty-two drivers are scheduled to participate in two days of NTT INDYCAR SERIES testing Thursday and Friday at the Indianapolis Motor Speedway in preparation for the 105th Running of the Indianapolis 500 presented by Gainbridge.

Testing will take place from 11 a.m. to 6 p.m. (ET) Thursday with veterans hitting the 2.5-mile famed oval first from 11 a.m. to 1 p.m. followed by rookie orientation and veteran refresher programs are scheduled from 1 p.m. to 3 p.m.

Two rookies are scheduled for orientation: Cody Ware (Dale Coyne Racing) and Pietro Fittipaldi (Dale Coyne Racing with RWR).

Even Indianapolis 500 winners are not exempt from the veteran refresher program.  Three-time 500 winner Helio Castroneves and two-time 500 winner Juan Pablo Montoya are two of the veterans schedule to participate along with Sebastien Bourdais, James Hinchcliffe, Max Chilton, Ed Jones, Sage Karam and Simona De Silvestro.

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6-time and reigning NTT INDYCAR SERIES Scott Dixon leads the Chip Ganassi Racing squad at the test.  Dixon returns for his quest to tie the legendary A.J. Foyt for a series record seventh Championship in 2021.  Dixon will be behind the wheel of the No. 9 PNC Bank Chip Ganassi Racing Honda.

Dixon’s teammates will also be participating in the test.  Newcomer Alex Palou will be in the No. 10 NTT DATA Honda.  Marcus Ericsson returns in the No. 8 Huski Chocolate Honda and Tony Kanaan is back with CGR in the cockpit of the No. 48 Honda that Jimmie Johnson will drive on the road and street courses.

Rahal Letterman Lanigan Racing’s Graham Rahal will be behind the wheel of the No. 15 Honda.  Rahal will be joined by defending and two-time 500 winner Takuma Sato and Santino Ferrucci will be in a third RLL entry.

The test is closed to the public but will be streamed live to race fans exclusively via NBCUniversal’s new streaming service, Peacock.

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