The Penske Corporation has now completed its purchase of the NTT IndyCar Series as well as the famed Indianapolis Motor Speedway and IMS Productions.
The purchase agreement was originally announced on November 4 and the two sides have been working through the details for the past two months. With the purchase complete the series will firmly be under the direction of Penske going forward.
Roger Penske has been heavily involved in motor racing and for over 50 years and now will be the driving force behind its continued success.
Penske said of the purchase “We are looking forward to carrying on the tradition of the Indianapolis Motor Speedway and IndyCar racing. 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 Indianapolis Motor Speedway and the Indianapolis 500 represent some of the most revered this is the first time the speedway has changed owners since Hulman & Company acquired it in 1945.
Also part of the agreement is the ownership of IMS Productions, the worldwide distributor of IndyCar handling all aspects of design, editing, and distribution of coverage.
Team Penske will continue to field a full IndyCar lineup for the 2020 season including a four-driver lineup at the Indianapolis 500 in May.
