Penske buys IndyCar series

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Sports

November 5, 2019 - 10:21 AM

Roger Penske speaks before the Consumers Energy 400 NASCAR race at Michigan International Speedway on Aug. 11. MARY LEWANDOWSKI

Roger Penske was a car-loving, 14-year-old who regularly listened to the Indianapolis 500 on the radio when his father landed tickets to the 1951 race. They made the trek from Cleveland, and Penske fell in love when he saw the cars zipping around Indianapolis Motor Speedway.

Now he owns the iconic speedway, its hallowed grounds, “The Greatest Spectacle in Racing,” the IndyCar Series and all its properties in a stunning deal announced Monday. By early next year, Penske Entertainment Corp. will take over all those entities owned by the Hulman family for 74 years in one of the biggest transactions in the history of motorsports.

“The bug of motor racing got in my blood,” Penske recalled about that day with his father, Jay. “I hope my dad is looking down at me and this group and saying ‘Son, you did a good job.’”

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