[Stevensville Mike]

Looks like Roger has taken over all of Hulman & Company, not just the Indianapolis Motor Speedway and the IndyCar Series. It will be interesting to see who in Hulman management may be kept - if they desire to do so.

************

https://www.indycar.com/News/2019/11...INDYCAR-Penske

INDYCAR, IMS acquired by Penske Corporation
By INDYCAR | Published: Nov 4, 2019

The Board of Directors of Hulman & Company announced today that it has entered into an agreement to be acquired by Penske Corporation, a global transportation, automotive and motorsports leader. Penske Entertainment Corp., a subsidiary of Penske Corporation, will acquire all Hulman & Company principal operating assets, including the Indianapolis Motor Speedway, the NTT IndyCar Series and IMS Productions. The transaction will close following receipt of applicable government approvals and other standard conditions.

The acquisition by the Penske organization will carry the future of the legendary Speedway and the IndyCar Series forward for the next generation of racing fans.

It was the vision of Carl Fisher to build the Indianapolis Motor Speedway (IMS) in 1909 and the track hosted its first races later that year. Eddie Rickenbacker later purchased the Speedway in 1927 before selling it to Tony Hulman and Hulman & Company in 1945. IMS has been the host of the world’s largest single-day sporting event – the Indianapolis 500 Mile Race – for more than 100 years. The iconic venue has also hosted NASCAR, Formula One and other racing series events throughout its storied history. The NTT IndyCar Series continues to be the premier open-wheel racing series in North America and is one of the most competitive championships in the world. IMS Productions is a leading video services and production company.

“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.”

Penske Corporation has a rich history of managing major motorsports properties, beginning with the acquisition of Michigan International Speedway in 1973. Over the course of its history, Penske and its subsidiaries have also operated the Grand Prix of Cleveland, Nazareth Speedway and California Speedway, along with investments in North Carolina Motor Speedway and Homestead-Miami Speedway. Penske Corporation currently promotes and operates the Detroit Grand Prix, hosted annually at the Belle Isle Park street circuit.

“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.”

“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,” said Mark Miles, President and CEO of Hulman & Company. “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.”

Hulman & Company’s financial adviser was Allen & Company LLC, and its counsel was Ice Miller LLP for this transaction.

[racefan20]

Originally Posted by hoosierhillbilly There is an 8 hour race planned for 2020 per this article. https://www.wthr.com/article/new-end...oming-ims-2020

8 or 12 would be great

[Vookie]

Originally Posted by racefan20 8 or 12 would be great

In the presser RP talks of a 24 hour race and F1. He also keeps calling IndyCar the IRL.

[Jerry Shaw]

To me, the bottom line is that if the track must change hands, it's not going to fall into the hands of someone who loves and reveres the place more than Roger does. And sounds like he would like to put the facility to a little bit more use than it has been, but isn't interested in making too many changes to the management structure. The track will be in steadier hands than it has been in a while, IMO.

Jerry

[brsteg]

I'd like to see F1 back, as I was a pup and not in the area when it was in town. i think enough time has passed and enough has changed that folks would support it for a couple years. Idk about it being a hit as a yearly tradition from here on forward.

I'd check a 24 hour race out.

Sightlines are the only bummer. Feel like sightlines in regards to RC is worse than oval. Stands on pit side are a real kill joy and will never change.

[chrismattlin]

Originally Posted by Vookie In the presser RP talks of a 24 hour race and F1. He also keeps calling IndyCar the IRL.

For what it's worth, the series is still a legal entity named INDY RACING LEAGUE, LLC d/b/a IndyCar. So, he's not technically wrong.

[btg1963]

Can you imagine what it would like if The Captain was 20 years younger? I know there are mixed emotions regarding Tony George, but this has to be satisfying that he had control of the process and not the girls.

[captrat]

Originally Posted by nathans1012 I always thought having a 12 or 24 hour endurance race there would be awesome kind of on the same level as Daytona 24, Sebring 12 hours, 24 hours at Le Mans, and Petite Le Mans at Road Atlanta. Indy is already known world wide as on the big name tracks in the world along with the city of Indianapolis it’s self. Us Hoosiers have been fortunate enough to to have had Indy, NASCAR, F1 race at the track over the years and I’ve been lucky enough to seen it at one time or another. Hope the dirt track stays. It think it gives racers and fans a sort of an incentive to hopefully get to race there some day for those that will never make it to the top levels of Motorsports.

Suppose that depends how one defines the "top levels of motorsport". If marketing is the main criteria as opposed to competition then I agree.

[Non wing lover]

Not sure I like this chuck

[mc/rider]

My Captain,My Captain ,I salute you Like La Salle Indy is probably more suited special events than a weekly show