Click here to view original web page at Roger Penske’s INDYCAR deal ‘great momentum’ for sport
With a record 18 victories in the Indianapolis 500, Roger Penske has owned the Indianapolis Motor Speedway.
By announcing on Monday morning, he is purchasing INDYCAR and the world’s most famous race course, now it’s official.
In a historic move that is both stunning in terms of magnitude and impact on the sport, and the fact Penske and the Indianapolis Motor Speedway were successful in keeping it under wraps, the most successful team owner in auto racing history now owns the series and the “World’s Greatest Race Course.”
The purchase was announced by the 82-year-old Penske along with Indianapolis Motor Speedway Chairman of the Board Tony George and Hulman & Company President and CEO Mark Miles, who is also the CEO of INDYCAR.
Penske becomes just the fourth different owner of the Indianapolis Motor Speedway since it was built by Carl Fisher, Arthur Newby, James Allison and Frank Wheel in 1909. The first Indianapolis 500 was held in 1911 and won by Ray Harroun.
It was sold to World War I flying ace and former Indianapolis 500 driver Eddie Rickenbacker in November 1927. It was shut down for World War II from 1942-45 and Rickenbacker sold the facility to Terre Haute, Indiana businessman Tony Hulman in November 1945.
It has been owned by the Hulman-George Family ever since until Penske completed a deal, pending government approval, Monday.The entire Hulman-George Family were in attendance at Monday morning’s announcement.“It was an important decision for our family, especially at this time,” George said. “Over the course of business […]