History was made for IndyCar, as the Board of Directors of Hulman & Company entered into an agreement to be acquired by Penske Corporation, selling principal operating assets, including the Indianapolis Motor Speedway, the NTT IndyCar Series and IMS Productions to the corporation, ending a legacy with the Hulman family and the racing series, when the Indianapolis Motor Speedway was purchased by Tony Hulman and Hulman & Company in 1945, although the family will have an opportunity from Penske to remain involved with both the series and the speedway, according to ESPN.
“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. “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.”
“My passion for racing began at the Indianapolis Motor Speedway in 1951 when I attended the Indianapolis 500 with my father,” said Roger Penske, whose race team celebrated its 50th anniversary of first competing at IMS this year. “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.”
