IndyCar
Penske Corporation Buying IndyCar And Indianapolis Motor Speedway from Hulman & Company
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.
“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.
MOORESVILLE, NC (May 7, 2024) Team Penske has suspended four members involved in the push-to-pass cheating scandal including team President Tim Cindric.
Managing Director Ron Ruzewski, No. 2 Race Engineer Luke Mason and Senior Data Engineer Robbie Atkinson join Cindric on the sidelines for the next two NTT INDYCAR SERIES races, this weekend’s Sonsio Grand Prix on the road course at the Indianapolis Motor Speedway and the Indianapolis 500.
The NTT INDYCAR SERIES discovered that Team Penske installed software that bypassed the push-to-pass system at the season opening Firestone Grand Prix of St. Petersburg and stripped race-winner Josef Newgarden of the victory and third-place winner Scott McLaughlin of his podium finish. The Series said the software was discovered prior to the Acura Grand Prix of Long Beach.
INDYCAR’s subsequent investigation and penalties were announced prior to last week’s race at Barber Motorsports Park and the series said it was over and done with, but not for Penske.
Team Owner Roger Penske, who also owns the series and Indianapolis Motor Speedway, met with several team owners and team principals at Barber but apparently felt he needed to take further action.
“After a full and comprehensive analysis of the information, Team Penske has determined that there were significant failures in our processes and internal communications,” Team Penske said in a statement.
“I recognize the magnitude of whaat occurred and the impact it continues to have on the sport to which I’ve dedicated so many decades,” said Team Owner Roger Penske in the same statement. “Everyone at Team Penske along with our fans and business partners should know that I apologize for the errors that were made and I deeply regret them.”
LEEDS, AL (April 28, 2024) Team Penske’s Scott McLaughlin put an emotional week in the rear-view mirror by winning Sunday’s Children’s of Alabama Indy Grand Prix presented by AmFirst.
McLaughlin employed a three-stop, flat-out pedal to the floor strategy while several others attempted a two-stop strategy. McLaughlin’s move paid off with the victory, his second in-a-row at Barber.
McLaughlin, who led 58 of the 90 laps after earning the NTT P1 Award in qualifying Saturday, took the lead for the final time on Lap 76 after his final pit stop.
“Definitely one of my best drives in terms of execution and just knocking out the laps,” said McLaughlin, who had his third-place finish at the Firestone Grand Prix of St. Petersburg presented by RP Funding stripped earlier in the week for illegal push-to-pass software and using it. “Very happy we could advance to the checkered flag there and bring home a W for Team Penske and for Roger (Penske).”
Will Power made it Team Penske 1-2 by finishing second in the No. 12 Verizon Chevrolet, 1.3194 seconds behind McLaughlin.
“It was a hard-fought 1-2 for Penske,” Power said. “We were certainly fast, but obviously a lot of strategy played into that. We were able to use our speed to come out in front again.”
Chip Ganassi Racing rookie Linus Lundqvist rounded out the podium by finishing third in the No. 8 American Legion Honda, the best finish of his young career.
“Man, it was amazing,” said Lundqvist of his sixth career start. “I think for the first time ever I was not on the save fuel strategy. I was not the one being passed, which was nice.”
The next race for the NTT INDYCAR SERIES is the Sonsio Grand Prix on Saturday, May 11 on the Indianapolis Motor Speedway road course, which kicks off the Month of May activities at IMS culminating in the 108th Indianapolis 500 presented by Gainbridge on Sunday, May 26 on the IMS oval.
INDIANAPOLIS, IN (April 24, 2024) Scott Dixon and the No. 9 PNC Bank Chip Ganassi Racing team are leading the NTT INDYCAR SERIES Championship standings after Team Penske was penalized for violating the series ‘push-to-pass’ parameters.
INDYCAR disqualified Josef Newgarden’s win and Scott McLaughlin’s third place finish in the season-opening Firestone Grand Prix of St. Petersburg and docked Will Power 10-Championship points for the infractions.
Dixon’s epic win in this past Sunday’s Acura Grand Prix of Long Beach vaulted him into second position in the Championship standings, 12-points behind Newgarden. That changed following Wednesday’s penalties.
Dixon now holds a 2-point lead over Andretti Global’s Colton Herta and a 12-point lead over teammate and reigning INDYCAR Champion Alex Palou.
Arrow McLaren’s Pato O’Ward sits in fourth position, 15-points back, following his elevation to winner at St. Pete. Power sits in fifth position, 20-points behind Dixon despite the 10-point reduction.
Dixon heads into this weekend’s Children’s of Alabama Indy Grand Prix powered by AmFirst at Barber Motorsports Park having never won at the picturesque 2.3-mile, 17-turn road course in Birmingham Alabama.
“Barber has been interesting,” said Dixon, a six-time series Champion. “Second six times. Never won there. The goal was always to try and step on the top step again.”
Dixon is hoping a recent test will help him park the No. 9 Honda in victory lane.
“We had a really good test at Barber,” added Dixon. “Only probably half of the grid did, so it will be interesting to see how that applies.”
The first 75-minute practice session gets underway on Friday from 2:40 p.m. to 3:55 p.m. and will be live-streamed on Peacock.
McLaughlin is the defending race winner.
Team Penske Suspends Cindric and Three Others Involved In Push-to-Pass Violation
Dewease and Hammaker Get First Wins for New Car Owners at Williams Grove Speedway
Mother Nature winning the weekend as local tracks cancel events
McLaughlin goes back-to-back at Barber Motorsports Park
Macri Gets Third Straight Kauffman Classic at Port Royal; Amantea and Craig Perigo Also Score
Borden Thrills at Port Royal; Robinson, Covert, and Hart also Score
Team Penske Penalized for St. Pete Infractions. Newgarden Stripped Of Win
Historic Stock Cars to run at Pittsburgh Vintage Grand Prix
Spithaler, Norris, Krummert, and Christian Schneider take Opening Night Wins at Lernerville Speedway
