![]() ![]() Penske was instantly hooked and has missed only six Indianapolis 500s since, five of which came when the Ind圜ar Series was formed by Tony George and split from CART. He brought his 14-year-old car-loving son to the speedway to see the event live after listening to it only on radio for many years. Penske's love of the speedway dates 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. "His many successful business ventures underline the fact that he is the perfect custodian of one of the most historic venues in the world and is the perfect architect to build the foundation for the next 100-plus years of the sport." "Roger Penske's commitment to the sport we love is over six decades long and I am confident that his stewardship of the Indianapolis Motor Speedway and the Ind圜ar Series will ensure a great future for the sport," Rahal said. "Both the Indy 500 and the NTT Ind圜ar Series have been on a rise and I look forward to the continued climb."Īnd Bobby Rahal called him the "perfect custodian" for the speedway. "Roger has always strived to do great things for both IMS and Indy car racing, and I'm sure he will continue to do so in this new ownership position," Andretti said. Michael Andretti called it "positive news" for the series and the speedway. Chip Ganassi said Penske called him early Monday morning before the sale was announced to inform him, adding "the place is going to be run like a business now." Support from rival team owners was immediate. approached the Hulman board in the fall about the purchase. Ultimately, it was decided to focus on the possible sale of the company and finding a buyer that would be the best steward of the company and its iconic assets." "For a number of years, the Hulman & Company management and board have engaged outside advisers and experts to consider the full range of strategic options available. "Penske Corporation - with its 64,000-plus employees and more than $32 billion in consolidated revenue - will bring tremendous energy, leadership and resources to IMS, Ind圜ar and IMSP. "We have found the ideal steward of the company and its iconic assets," the document states. The sale is expected to close in early January, according to a document of message points sent to Ind圜ar teams on Monday, a copy of which was obtained by the AP. The speedway is to discuss the deal in a news conference Monday. He capped the Ind圜ar Season with a championship from driver Josef Newgarden, the 15th for the Team Penske organization. Penske is the winningest team owner in Indianapolis 500 history with 18 victories, including Simon Pagenaud's win in May. The Ind圜ar Series is on an upward trend with improved television ratings and increased interest. "Great day for our family and our team," Penske said in a text message to The Associated Press. ![]()
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