SPEEDWAY, Ind. —The Indianapolis Motor Speedway has a new owner. Indianapolis Motor Speedway has been sold to Penske Entertainment Corporation, the Board of Directors of Hulman & Company announced Monday. According to IMS, the sale also includes the NTT IndyCar Series and IMS Productions.
“If it was ever going to be sold, you want it sold to Roger Penske,” says Kevin Lee, NBC Sports reporter who has covered numerous Indycar races. “Roger Penske doesn’t fail very often. He also has, I think, the best interests of the Indianapolis Motor Speedway and Indycar racing at heart.”
Lee spoke to 93 WIBC’s Tony Katz Monday morning.
Roger Penske is worth just under $2 billion. Ryan Myrehn, Pit Reporter for the IMS Radio Network, says Penske’s success as a businessman will be beneficial for the Speedway and for the Indycar series. There is one issue he thought of, however.
“You have to look and question the potential conflict of interest, of course, with probably the most well-known team in the series being owned by the same entity as the track, the most prestigious race, and the series itself,” Myrehn said.
Hulman & Company bought the Speedway in 1945 in order to promote its Clabber Girl baking powder. The company sold Clabber Girl in May. A press conference is set for 11 a.m. Monday.
(Photo by Chris Owens/IMS.)