Roger Penske buys Indianapolis Motor Speedway, IndyCar Series
Indianapolis Motor Speedway and the IndyCar Series were sold to Penske Entertainment Corp. in a stunning move Monday that relinquishes control of the iconic speedway from the Hulman family after 74 years.
Tony Hulman bought the dilapidated speedway in 1945 and brought racing back to the corner of 16th Street and Georgetown Avenue after a four-year absence following World War II. Roger Penske will become just the fourth owner of the 110-year-old speedway.
The speedway spun off multiple subsidiaries, including the IndyCar Series and Indianapolis Motor Speedway Productions, which are also part of the deal, to Penske Entertainment. That group is a subsidiary of Penske Corp., which is owned by billionaire Roger Penske.
"Great day for our family and our team," Penske said in a text message to The Associated Press.
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