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.”

Charlie Kimball joins A.J. Foyt Racing; Tony Kanaan expected back

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A.J. Foyt has hired Charlie Kimball to drive its No. 4 Chevrolet in the 2020 NTT IndyCar season.

Kimball will return to a full-time schedule after seven races last season with Carlin Racing. This will mark his 10th consecutive season of driving in IndyCar. In 141 starts, he has one victory (in 2013 at Mid-Ohio).

“I wouldn’t have survived another partial schedule, and I’m not sure my marriage would have survived,” Kimball said Wednesday during a conference call with reporters. “It was really tough watching in races when I wasn’t in the car. The consistency allows me to stay in the rhythm.”

A.J. Foyt Racing fielded cars last year for Matheus Leist in the No. 4 and Tony Kanaan in the No. 14. Team president Larry Foyt told reporters that the No. 14 car’s 2020 schedule was “a work in progress and hopefully have some news on that in the next few weeks.”

Asked if Kanaan, who has driven for Foyt since 2018, still will be with the team, Foyt said, “I’m sure he will. We’ve been working together and getting everything buttoned up.”

Here’s the full release from A.J. Foyt Racing:

Veteran IndyCar driver Charlie Kimball joins AJ Foyt Racing as the full-time driver of the No. 4 Chevrolet with backing from his long-time sponsor Novo Nordisk. The 2020 NTT IndyCar Series season marks Kimball’s 10th consecutive season in IndyCar and his 12th season of partnership with the global healthcare company.

Kimball, who ran a partial season of seven races in 2019, returns as a full-time driver in the 17-race NTT IndyCar Series this year. The No. 4 car will carry a Novo Nordisk branded livery in the following races: Firestone Grand Prix of St. Petersburg, Acura Grand Prix of Long Beach, GMR Grand Prix (Indianapolis), Texas Indy 600 (Ft. Worth), Bommarito Automotive Group 500 at Gateway (Madison, Ill.) and the Firestone Grand Prix of Monterey. Novo Nordisk will be an associate marketing partner in the remaining 11 races.

“I’m excited and honored to join AJ Foyt Racing and be a part of a team that has such deep roots in history at the Indianapolis Motor Speedway and IndyCar,” said Kimball, who lives in Indianapolis. “Continuing the partnership with Novo Nordisk is also special since they have been an integral part of my career since I was diagnosed with Type 1 diabetes. I’m more motivated than ever to work with the team to succeed at every IndyCar race in 2020. Thank you to AJ Foyt Racing, Novo Nordisk and our other partners for this opportunity.”

Team President Larry Foyt expects the partnership with Novo Nordisk and the addition of Charlie Kimball, an IndyCar Series race winner at Mid-Ohio (2013) and a pole winner at Texas Motor Speedway (2017), to invigorate his No. 4 Texas-based team this season.

“Charlie brings a great deal of experience and skill to the team,” Foyt said. “He is motivated to show what he can do behind the wheel, and his recent experience of helping develop cars will be beneficial as we work to get the 4 car moving up the grid. Novo Nordisk has been a long-time supporter of Charlie and IndyCar. We want to welcome them to AJ Foyt Racing and we look forward to joining them in their effort to increase the awareness of diabetes.”

Kimball has posted six podium (top-3) finishes, and an additional eight top-5s. He has finished in the top-10 (6th through 10th) 41 times and has led 163 laps in 141 races.

“We are proud to continue our long-term partnership with Charlie Kimball and look forward to an exciting 2020 IndyCar season with the legendary AJ Foyt Racing,” said Brian Hilberdink, Senior Vice President, Commercial Diabetes at Novo Nordisk. “For more than a decade, we’ve utilized our involvement in IndyCar to share Charlie’s inspiring journey living with diabetes through the Race with Insulin initiative. Charlie is one of the most active ambassadors in the diabetes community and his passion and commitment to making a difference in the lives of those who are living with diabetes is unwavering. We look forward to continuing this tradition with AJ Foyt Racing, Charlie and the diabetes community throughout the IndyCar season.”

Foyt expects to make further announcements regarding new primary sponsors for the team in the near future.