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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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Chip Ganassi Racing’s Alex Palou Wins NTT INDYCAR SERIES Championship

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Chris Owens/INDYCAR

LONG BEACH, CA (Pittsburgh Racing Now) – In just his first year with the team Chip Ganassi Racing’s Alex Palou is your 2021 NTT INDYCAR SERIES Champion.

Palou’s 4th-place finish in Sunday’s season-ending Acura Grand Prix of Long Beach guaranteed the 24-year-old native of Spain his first INDYCAR Championship in his second season and the Ganassi team their 14th title since 1996.

“This team is amazing,” said Palou. “I’m super proud to be a part of Chip Ganassi Racing, all our partners. I’m super proud to be a champion and for the opportunity these guys gave me. What a race, what a year, what a season.”

“People win Championships,” said team owner Chip Ganassi. “The driver, the team, and especially the people behind the scenes, leaving the shop in the winter when it’s dark out and snowing, that don’t get the notoriety.”

Palou started the race in tenth position in the No. 10 NTT Data Honda.  Palou’s closest Championship rival, Arrow McLaren SP’s Pato O’Ward, started the race in eighth position.  Team Penske’s Josef Newgarden started on the pole position with Palou’s CGR teammate Scott Dixon alongside in second place in the No. 9 PNC Bank Grow Up Great Honda.

Newgarden took the lead in turn one with Dixon in tow as the field took the green flag.  The race wasn’t even 2-laps old when Dale Coyne Racing with Vasser Sullivan’s Ed Jones made an ambitious attempt to pass James Hinchcliffe, but made contact with O’Ward with Palou right behind Jones!

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O’Ward brought out the caution flag a short time later on lap 20 when the right rear driveshaft failed on the front stretch.

The caution flag shuffled the field as some cars went to pit road for service while other cars stayed out to gain track position, giving the lead to Helio Castroneves, who took a turn at the front of the field until he went to pit road on lap 34, giving the lead to Colton Herta.

Herta earned his turn at the front as he was making moves through the field throughout the race and following the last restart, it was Newgarden and Dixon giving chase.  Palou was behind Dixon in fourth doing what he needed to get the car to the checkered flag in one piece.

Herta pulled away in the end to a .5883-second victory, his ?? win of 2021.  Newgarden finished second to jump O’Ward for second in the Championship, 38-points behind Palou.

Dixon finished third followed by Palou in fourth. Team Penske’s Simon Pagenaud rounded out the Top 5.

Alexander Rossi, Jack Harvey, Sebastian Bourdais, Takuma Sato and Will Power made up spots 6 through 10.

Honda claimed the Engine Manufacturer’s Championship for the fourth straight year.

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Josef Newgarden wins pole position for INDYCAR Acura Long Beach Grand Prix

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Chris Owens/INDYCAR

LONG BEACH, CA (Pittsburgh Racing Now) – Team Penske’s Josef Newgarden is on the pole position for Sunday’s NTT INDYCAR SERIES season-ending Acura Grand Prix of Long Beach.

Newgarden’s fast lap of 1-minute, 8.2241-seconds around the 11-turn, 1.968-mile street circuit was .2181-seconds faster than Chip Ganassi Racing’s Scott Dixon’s best lap in the No. 9 PNC Bank Grow Up Great Honda.

The pole position and valuable Championship point is exactly what Newgarden needs to do to win his third series title.  Newgarden enters the race in third position in the standings, 48-points behind leader Alex Palou, and must win, lead the most laps and hope Palou finishes 25th or worse.

“It’s very improbable for us to win this championship,” Newgarden said. “So, our goal is to win the race tomorrow. Let’s finish our season on a high note, and we’ll see what happens. I think it’s pretty unlikely, but you never say never in this sport.”

The only other driver with a shot at the Championship is Arrow McLaren SP’s Pato O’Ward, who will start eighth in the 28-car field.  O’Ward also needs to win and hope for Palou to finish 25th or worse.

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“Our car has been good,” said O’Ward. “We didn’t roll off the best, but I think we made some really good changes, just kept improving. We had enough for the Fast 6.”

Palou will start 10th in the No. 10 NTT Data Chip Ganassi Racing Honda.  Palou and O’Ward were on flying laps when they were forced to slow for a local yellow for Will Power, costing both valuable lap time which eventually cost both the ability to advance to the final round of knockout-style qualifying.

“That yellow flag didn’t help us at all,” said Palou. “I think we were going to be easy through, but racing stuff, right?  I’m happy because the car’s good, a bit better than yesterday and this morning.”

“Kind of sucks to get hosed by a very odd call,” added O’Ward. “We should have been in the Fast 6.”

Palou must finish 12th or better – or 13th or better if he leads a lap – to clinch his first NTT INDYCAR SERIES championship and CGR’s 14th title since 1996!

Live coverage of the 85-lap race starts at 3 p.m. (ET) Sunday on NBCSN and the INDYCAR Radio Network. A 30-minute warmup starts at noon (ET), live on Peacock Premium.

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Colton Herta goes back-to-back at Laguna Seca

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Joe Skibinski

MONTEREY, CA (Pittsburgh Racing Now) – Andretti Autosport’s Colton Herta won Sunday’s NTT INDYCAR SERIES Firestone Grand Prix of Monterey giving him back-to-back victories two decades after his father accomplished the same feat.  Herta beat Chip Ganassi Racing’s Alex Palou by 1.9747-seconds to pick up his second victory of 2021 and fifth of his career.

“Alex, really the whole race, was right there,” said Herta. “Then Grosjean at the end pressured Alex, therefore pressured me. To go two-for-two so far (at Laguna Seca) is great. We were fast all weekend, and I’m glad we could pull it off in the race.”

Palou continued his march towards his first series title with a second place after last week’s win at Portland, which gives Palou and the No. 10 NTT DATA team a 35-point lead ahead of second place Pato O’Ward.

“Unfortunately we didn’t have the pace that Colton had,” explained Palou. “I think in reds and blacks he had a bit more. As soon as I tried to catch him, which we tried, I would just cook my tires. Yeah, I couldn’t go as fast as him without losing my tires.”

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Palou, O’Ward and two-time series champion Josef Newgarden are the only drivers eligible to win the Astor Challenge Cup at the season finale. Newgarden is third in the standings, 48 points back.

Six-time series champion Scott Dixon and Chip Ganassi Racing teammate Marcus Ericsson were eliminated from contention at this race after finishing 13th and sixth, respectively.

“All weekend we didn’t have it,” O’Ward said. “I truly feel like we used every single ounce of energy and pace that this car had. We pulled off a near-miracle in qualifying to start in the first three rows. In the race, honestly, that was as much as I had.

“All we can do at Long Beach is win, and then let everything else fall. I’ve got faith in myself. I know I’m pretty handy around a street course, so let’s see what we can pull off next week.”

Herta’s victory clinched the Manufacturers Championship for the fourth consecutive season.

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