Photo: Joe Skibinski/INDYCAR

Penske Corporation Completes Indy Acquisition

By Luis Torres, Staff Writer

Two months removed from the bombshell announcement of the Penske Corporation acquiring the Indianapolis Motor Speedway, the NTT IndyCar Series and IMS Productions, they’ve made it official Monday. Thus, ushering in a brand new era in the world of Indy car racing and “The Greatest Spectacle in Racing.”

With Penske running the major conglomerates of Indianapolis have to offer, it ends a glorious 74-year ownership by the Hulman & Company, who revived the iconic 2.5-mile circuit from ruins after World War II ended in 1945 and built an empire that lives today.

Roger Penske said he’s ready to take the biggest task of his already legendary career in both motorsports and business.

“We are looking forward to carrying on the tradition of the Indianapolis Motor Speedway and IndyCar racing,” Penske said. “We have been diligently working with the teams at IMS, INDYCAR and IMS Productions over the last two months to ensure a smooth and productive transition and we are ready to hit the ground running. Now, it is time to get to work as we continue the growth of the Speedway and we build on the momentum of the NTT IndyCar Series.”

The Penske Corporation become the fourth IMS owner since the track was built in 1909. The previous three owners were Carl Fisher, Eddie Rickenbacker, and the aforementioned Hulman & Company.

Changes are expected to be made such as enhancing fan experience and provide the best entertainment possible, including the 104th Indianapolis 500 presented by Gainbridge which commences May 24.

Penske driver Simon Pagenaud is the defending race winner, extending the team’s all-time win record to 18 victories in the mecca of American racing.

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From the Pacific Northwest, Luis is a University of Idaho graduate with a Bachelor's degree in Broadcasting and Digital Media. Ever since watching the 2003 Daytona 500, being involved in auto racing is all he's ever dreamed of doing. He's also covered Idaho Athletics and high school football as both a writer and videographer. Additionally, he spent 2017 writing several racing columns as an independent journalist. Luis does video and photography, and is a fan of Seattle sports, a music critic and a motivator who wants to impact people's lives.