Roger Penske to purchase IndyCar, Indianapolis Motor Speedway

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Roger Penske will soon own IndyCar and Indianapolis Motor Speedway.

The development was revealed in a media advisory Monday morning by the track. The Board of Directors of Hulman & Company will announce later this morning the sale of the company and certain subsidiaries, including IndyCar, the historic speedway and IMS Productions to the Penske Entertainment Corp., a subsidiary of Penske Corporation.

The transaction will close following receipt of applicable government approvals and other standard conditions.

Roger Penske is the owner of Team Penske, which fields teams in IndyCar and NASCAR.

Penske the winningest owner in Indianapolis 500 history with 18 victories, including this year with Simon Pagenaud. He won the 2018 Brickyard 400 with Brad Keselowski.

In NASCAR, Indianapolis Motor Speedway is one of three tracks the Cup Series competes on that is owned independently from NASCAR and Speedway Motorsports Inc. The others are Pocono Raceway and Dover International Speedway.

“We recently approached Roger Penske and Penske Corporation about this opportunity and began working to put an agreement in place,” said Tony George, Chairman of Hulman & Company, in a press release. “The Indianapolis Motor Speedway has been the centerpiece and the cathedral of motorsports since 1909 and the Hulman-George family has proudly served as the steward of this great institution for more than 70 years. Now, we are honored to pass the torch to Roger Penske and Penske Corporation, as they become just the fourth owner of the iconic Speedway. There is no one more capable and qualified than Roger and his organization to lead the sport of IndyCar racing and the Indianapolis Motor Speedway into the future.”

Said Penske: “My passion for racing began at the Indianapolis Motor Speedway in 1951 when I attended the Indianapolis 500 with my father. We have so much respect and appreciation for the history and tradition of the Speedway and the sport of IndyCar racing. I want to thank Hulman & Company for the opportunity to build on this legacy and it will be an honor for Penske Corporation to help lead these great institutions forward into a new era.”

Said Mark Miles, President and CEO of Hulman & Company: “The Indianapolis Motor Speedway, the Indianapolis 500 Mile Race and the NTT IndyCar Series have enjoyed considerable growth over the past decade, with significant increases in television, digital and social media audiences combined with record attendance at many of our race venues. With their track record of business success, their venue, operation and event experience and their passion for motorsports, Roger Penske and Penske Corporation will help us take the IndyCar Series, the Indianapolis Motor Speedway and all of our properties to new heights. Everyone on our team looks forward to working with them to capitalize on the momentum that the Series and the Speedway have achieved.”

Here are the starting times for 2020 NTT IndyCar Series action on NBC and NBCSN

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Another important tidbit for NTT IndyCar Series fans is out as INDYCAR and NBC announced starting times for the 2020 season. The full television schedule is also included.

There are different starting times at four races in 2020 from 2019. Those include the March 15 Firestone Grand Prix of St. Petersburg, the AutoNation INDYCAR Challenge at Circuit of the Americas on April 26, a later starting time for the Saturday night race at Iowa Speedway on July 18 on NBCSN

INDYCAR released the green flag times today for the 2020 NTT IndyCar Series season that features starting time shifts at four races – St. Petersburg, Circuit of The Americas, Iowa and Mid-Ohio – and the anticipated evening return to Richmond Raceway.

Those four returning races represent the only significant green flag start time changes from a year ago in the 17-race 2020 NTT IndyCar Series schedule, beginning with the season-opening Firestone Grand Prix of St. Petersburg scheduled for Sunday, March 15.

The August 16 Honda Indy 200 at Mid-Ohio will be moved to an earlier starting time and will be broadcast on NBC. Previously, the race was scheduled for 4:05 p.m., but has been changed to a 12:45 p.m. Eastern Time green flag.

INDYCAR’s return to Richmond Raceway on Saturday, June 27 will begin at 8:15 p.m. ET. That is the only new event on the schedule.

Detailed broadcast information for the entire season will be announced at a later date.

Here are the notable changes to the starting times on the schedule:

The Firestone Grand Prix of St. Petersburg, which began at 1:40 p.m. ET this past season, will now have a 3:30 p.m. green flag. The race on the downtown streets of St. Petersburg, Fla., will be celebrating its 10thanniversary as the series’ season opener and be televised on NBC Sports Network.

The AutoNation INDYCAR Challenge at Circuit of The Americas on Sunday, April 26, will have a similar shift, moving from a 1:43 p.m. ET green flag this past season to 4:10 p.m. (3:10 p.m. local) in 2020. The permanent road course in Austin, Texas, will play host to the fourth race of the season and be broadcast on NBCSN.

The Iowa 300 at Iowa Speedway, set for Saturday, July 18, on NBCSN, will be better accommodated for an evening race under the lights with the green flag moving from 7:15 p.m. ET to 9 p.m. (8 p.m. local).

“The return of a night race for INDYCAR at Iowa Speedway is exciting news for our race fans, sponsors, and the entire region,” Iowa Speedway President David Hyatt said. “The cars look great under the lights, and the competition should be even more fierce given what should be cooler conditions. Our track provides some of the best racing you’ll see anywhere, which will be good for attendance. This will be a can’t-miss weekend for all race fans.”

The return to a true night race at Iowa was the result of fans requesting it. The race will begin at 8:00 p.m. CT on NBCSN and the Advance Auto Parts INDYCAR Radio Network. And for fans and drivers, it is nostalgic, hearkening back to the first race many of them experienced … a night race on a short track.

The series hasn’t held a race that began after dusk at Iowa Speedway since 2015, and drivers and fans are welcoming it. Not only does it look more vibrant — and create sparks as cars bottom out — it also makes for better racing. Tires grip better when the track is cooler. Fans also avoid sweltering conditions during summer afternoons.

The Honda Indy 200 at the Mid-Ohio Sports Car Course on Sunday, Aug. 16, will be the only race among the four that moves to an earlier start time. The race, which had a 4:05 p.m. ET start this past season, will shift to a 12:45 p.m. green flag in 2020 and be televised on NBC.

The NTT IndyCar Series heads to Richmond Raceway – the only new addition on the 2020 schedule – for the 11th race of the season on Saturday, June 27. The field will take the green flag at 8:15 ET for the start of the first Indy car race at the .75-mile oval since 2009. The race will be broadcast on NBCSN.