Indianapolis Motor Speedway Is Sold to Roger Penske

Penske’s love of the speedway dates back to 1951 when his father, Jay, scored a pair of tickets to the Indianapolis 500 from the metal fabrication company in Cleveland where he worked. He brought his 14-year-old car-loving son to the speedway to see the event live after listening to it only on the radio for so many years.

Penske, now 82, was instantly hooked and has missed only six Indianapolis 500s since, five of which came when the IndyCar Series was formed by Tony George and split from CART. Penske teams remained in CART, and CART teams were not welcome at the 500.

George, the grandson of Tony Hulman, has long run the speedway and its properties along with his sister and a board of directors. But the family matriarch, Mari Hulman George, daughter of Tony Hulman, died last December and the family has now turned over all of its racing properties to Penske.

The IndyCar Series is on an upward trend with improved television ratings and increased interest. CART was once the most popular form of motor sports in America, but NASCAR swallowed open wheel racing during the tumultuous times after Tony George created the Indy Racing League. The split fractured open-wheel racing in North America and it has never recovered, even after CART conceded and merged into what is presently known as IndyCar.

Article source: https://www.nytimes.com/2019/11/04/sports/autoracing/roger-penske-indianapolis-motor-speedway-indycar.html?emc=rss&partner=rss