Roger Penske bought the Indianapolis Motor Speedway (IMS) and IndyCar Series from Hulman & Company on Monday and said he plans to invest new money into the famed track and may even look into bringing Formula One racing back to the venue. Financial terms of the deal, which will see Penske Corp. subsidiary Penske Entertainment acquire all principal operating assets of family-owned Hulman & Company, were not disclosed. Penske, who is the most successful owner in the Indianapolis 500 race with 18 victories, was very bullish when speaking about the future of the Indianapolis Motor Speedway, which is already the highest-capacity sports venue in the world. Rival team owner Michael Andretti said Penske’s purchase is positive news for both the speedway and the IndyCar Series. “Roger has always strived to do great things for both IMS and IndyCar racing and I’m sure he will continue to do so in this new ownership position,” said Andretti.

Source: National Post November 04, 2019 19:07 UTC