Penske Buys Indianapolis Motor Speedway, IndyCar Series

Penske Buys Indianapolis Motor Speedway, IndyCar Series

Monday, Hulman & Company said it has agreed to sell the company and certain subsidiaries, including the Indianapolis Motor Speedway and NTT IndyCar Series to a subsidiary of Penske Corporation.

Executives from Hulman & Company, which has owned the famed track since Y 1945, where the crown jewel of American open wheel racing is held each Memorial Day weekend, were joined by Penske Corp. Chairman Roger Penske for news conference to discuss the sale.

Financial terms of the deal were not disclosed.

Roger Penske began racing in the late 1950’s and won the Sports Car Club of America’s Presidents Cup in Ys 1960, 1962 and 1963. He won Sports Illustrated’s Driver of the Year award in Y 1961.

After retiring from driving in Y 1965, Roger started his own race teams. Over the years he has built an automotive company with 1 of the most recognizable names in American motorsports and employs more than 50,000 people worldwide.

He is the most successful owner in the Indianapolis 500 race, with 18 victories, including this year when driver Simon Pagenaud won the race.

Last month, President Trump awarded 1 of the nation’s highest civilian honors to Roger when he presented him with the Presidential Medal of Freedom.

Have a terrific week.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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