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.”

Steve Torrence takes NHRA points lead with Gatornationals victory

NHRA Gainesville Steve Torrence
Jeff Robinson/Icon Sportswire via Getty Images
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GAINESVILLE, Fla. — Two-time defending NHRA Top Fuel champion Steve Torrence took the points lead Sunday in the AMALIE Motor Oil Gatornationals, beating his father, Billy, in the final round at Gainesville Raceway.

Torrence had a 3.809-second run at 322.11 mph to win for the third time this year and 39th overall. He is now on track for another championship despite missing the season opener.

“We’ve got some good momentum and to be in the points lead, it’s a testament to how hard these guys work,” Steve Torrence said after the NHRA Gainesville victory. “We’ve just got to stay focused and concentrate on what the task at hand is, and that’s trying to win a championship. These guys give me an unbelievable race car and you just try not to screw it up.”

Ron Capps won in Funny Car, Alex Laughlin in Pro Stock and Matt Smith in Pro Stock Motorcycle.

Capps raced to his second win this year and 66th overall, beating Tim Wilkerson with a 3.937 at 323.12 in a Dodge Charger SRT Hellcat.

Laughlin topped Aaron Stanfield with a 7.068 at 204.76 in a Chevrolet Camaro for his first win this season and fourth in his career. Smith rode to his first victory in 2020 and 25th overall, topping Andrew Hines with a 6.843 at 196.99 on an EBR.