Penske Buys Hulman & Company Including Indianapolis Motor Speedway

SPEEDWAY, Ind.On Monday the Hulman family announced that the Indianapolis Motor Speedway has a new owner.

The Indianapolis Motor Speedway has been sold to Penske Entertainment Corporation.

The Board of Directors of Hulman & Company announced that sale also includes the NTT IndyCar Series and IMS Productions.

Roger Penske is reportedly worth just under $2 billion.

Hulman & Company bought the Speedway in 1945 in order to promote its Clabber Girl baking powder. The company sold Clabber Girl in May.

Penske is the winningest team owner in Indianapolis 500 history with 18 victories.

The purchase price was not disclosed.

Governor Eric J. Holcomb offered the following statement on announcement of the Hulman & Company’s intended sale to the Penske Corporation.

“The biggest single day sporting event on planet earth is about to get even bigger and better. I couldn’t be more excited about the future of the Indianapolis Motor Speedway with ‘The Captain’ Roger Penske at the helm.

“Mr. Penske’s vision, team and high expectations will ensure Indiana’s most iconic asset continues to grow. Along with IndyCar, the Indianapolis Motor Speedway forms the core of an entire racing industry that employs thousands of people and pumps hundreds of millions of dollars into our economy.

“As a racing fan, my excitement is only equaled by my appreciation for the longtime Hulman George commitment to the past and future of the sport of racing and to our great state.”


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