Roger Penske now officially owns Indianapolis Motor Speedway and the IndyCar series
The American racing mogul has big plans for both IndyCar and The Brickyard
ASSOCIATED PRESS via autoblog.com
Jan 7th 2020
Roger Penske completed his purchase of Indianapolis Motor Speedway on Monday, becoming just the fourth owner of the historic facility and subsidiaries that include the IndyCar Series.
When the deal was first announced in November, Penske said he had big plans for The Brickyard and the IndyCar series. Those hopes could even include bringing Formula One racing back to the venue.
Terms of the sale have not been disclosed, but people familiar with the transaction have told AP some of the discussions involved offers of $250 million and $300 million for the package, with a promise of additional capital improvements to the speedway.
The speedway had been owned by Tony Hulman and Hulman & Co. since 1945, but the family approached Penske in September for advice when Tony George and his three sisters decided to sell. Penske jumped at the opportunity.
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