Penske completes IMS, IndyCar Series acquisition

Roger Penske’s acquisition of the NTT IndyCar Series, Indianapolis Motor Speedway, and IMS Productions has been completed. With the Penske Corporation serving as the new owner of the legendary series, 2.5-mile racing circuit, and video production company, the prized assets of the Hulman George family formally pass to the winningest team owner in Indy 500 history.

"We are looking forward to carrying on the tradition of the Indianapolis Motor Speedway and IndyCar racing," Penske said. "We have been diligently working with the teams at IMS, INDYCAR and IMS Productions over the last two months to ensure a smooth and productive transition, and we are ready to hit the ground running. 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."

With the 2020 IndyCar season ready launch in just over three months, the timing of the sale’s completion means few changes to the series are expected in the short term.

Set to fall under a new Penske Entertainment division, the IMS and IndyCar properties will continue to be led by series CEO Mark Miles, who will have a new board of directors installed by Penske to help oversee and improve the racing businesses.