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.”

IndyCar’s Scott Dixon staying fit during lengthy time off

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During a regular racing schedule, five-time NTT IndyCar Series champion Scott Dixon of Chip Ganassi Racing would spend much of his time between races at PitFit in Indianapolis.

The highly advanced workout facility on the northwest side of Indianapolis is run by noted sports trainer Jim Leo. His clientele includes IndyCar Series drivers and other athletes in the area.

In addition to the array of workout machines, Leo’s facility also has advanced equipment to test a driver’s reaction time. These range from a board with lights that rapidly flash, and a driver have to hit the board to turn them off. There are other tests drivers do to keep their skills sharp and reaction time focused.

Times have changed, though.

Indiana is under a statewide lockdown with the exception of essential services only. Instead of going to PitFit, Dixon is working out at his home on the north side of Indianapolis.

His reaction time is being tested by his wife, Emma, throw a tennis ball at him, changing the direction with each toss.

“I’ve gone back to old school, like tennis balls and Emma can drop them or throw them,” Dixon told NBCSports.com. “As long as you keep up with basic cardio and lift weights and work on the neck muscles, that’s the harder part to get ready for. “As we get through this transition, we have 8-10 weeks before these things get lifted.

“I had already stopped going into Pit Fit last week. We had not been doing that for a while. Haven’t left the house for 13 days, now. We went to the grocery store once. The rest of the stuff has been delivered.

“We’re locked down, man, trying to do our best for everyone else.”

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Dixon’s home has an impressive array of workout equipment. That allows the 39-year-old racing legend to stay fit during this extended time off that won’t end until the last week of May at the earliest.

“I have most of the stuff I need at home,” Dixon explained. “Some of the reaction stuff, the D-2s and Synaptic machines plus some of the upper-body machines are pretty unique machines. Those are the machines that Jim Leo has at PitFit.

“As far as cycling, running, general weights, skiers and rollers, I have that at home.”

It seems like a lifetime ago when the world was normal. That was before the dreaded COVID-19 outbreak has literally sent society underground and locked in while a solution to this fatal virus is found.

Photo by Chris Graythen, Getty Images

Before this unexpected shutdown, Dixon would go into PitFit to work on specialized equipment on Mondays, Wednesdays and Fridays. He would do the rest of his physical workout at home.

“I started skipping that when we got home before the lockdown,” Dixon said. “Before the lockdown, Jim could have stayed open because he never has more than 10 people at once.

“Typically, he would have the drivers spaced out where Tony Kanaan and I would go in at 8 in the morning and Alexander Rossi and James Hinchcliffe would go in at 9:30 and then Zach Veach and Spencer Pigot and Charlie Kimball would go in around 11. There were only about five of us going in at once.”

Two weeks ago, Leo dropped off some equipment at Dixon’s house along with more instructions to focus on his workouts during the layoff.

Sacrifices are being made all throughout the world, including racing.

“You can’t be selfish,” Dixon said. “It sucks for the drivers, but it sucks a lot worse for a lot of other people. Luckily, the school the girls go to has e-learning. It’s school as usual on the computer from 8:30 to 3 and that has been seamless on that front.

“On a personal note, it’s nice to be home with the baby and bonding as well and that is great. But all of us wish everything was back to normal as soon as possible.”

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Dixon is the father of three, including young daughters Poppy (10), Tilly (8) and infant son, Kit.

This is a time to keep his family safe.

“You hear mixed messages about who is more at risk,” Dixon said. “Obviously, older people with underlying conditions. We’re a fairly healthy family, but still it sounds like something can trigger a pretty bad situation. It’s better to be safe than sorry so we are limiting our contact as fast as possible. The quicker everybody locks down, the quicker we will get through the situation. If we stay home, we will see a decline and hopefully get back to normal pretty quickly.

“It’s a new thing for everybody.”

For now, Dixon works out at home, while the girls continue their classes on the computer. Emma spends time with her infant son, Kit, while taking care of the family.

These days of working out at home will be important because once racing is scheduled to return, tentatively set for May 30 at Detroit, it will be flat-out, racing nearly every weekend.

There won’t be time-off in-between races.

“No, but everybody is having plenty of rest right now,” Dixon quipped. “It’s not what anybody wants. We all keep hoping everybody remains safe and healthy. It’s a difficult time for a lot of people and we’ve been very lucky that we don’t know anybody that has had an issue so far. Hopefully, that remains the same.

“Everybody is ready to go. We were ready to go at St. Pete. This will be welcomed greatly.

“Nothing is normal these days. I think what IndyCar and IMS did was probably the best of the situations. You never want to move the dates of the 500, but you always want the people to be relaxed enough they are going to come to the race, too.

“The way they have done the schedule is pretty cool. It gives them enough wiggle room now with Detroit being the kickoff. What is also fun is the July 4 doubleheader weekend at Indianapolis and St. Pete finishing the season.”

Once life returns to normal, depending on what the new normal will look like, race drivers and athletes will once again be in an area they know.

The difficult part of this, however, is nobody knows when the COVID-19 pandemic will end.

“The hard part right now is there are so many unknowns,” Dixon said. “That is what people hate. They could wrap their hands around two weeks, but it could be another six weeks. People will go crazy.

“That is what we are going through right now. The unknown. Nobody knows what the next step is.”

That is why Dixon has a message for all race fans to take these orders seriously.

“Stay safe. Stay away from people. Lock down. Get this period done with,” Dixon said. “Once we do that, hopefully we can crack on like normal and people can find fixes and therapies. As soon as everybody bunkers down, we will get through this sooner instead of later.

“Let’s get back to normal as quick as possible and get back to racing when we can.”

Follow Bruce Martin on Twitter at @BruceMartin_500