Penske Corporation to Purchase Hulman & Company

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Acquisition to include the Indianapolis Motor Speedway, the NTT IndyCar Series, and IMS Productions

Indianapolis, IN. (November 4, 2019) – The Board of Directors of Hulman & Company announced today that it has entered into an agreement to be acquired by Penske Corporation, a global transportation, automotive, and motorsports leader. Penske Entertainment Corp., a subsidiary of Penske Corporation, will acquire all Hulman & Company principal operating assets, including the Indianapolis Motor Speedway, the NTT IndyCar Series, and IMS Productions. The transaction will close following receipt of applicable government approvals and other standard conditions.

The acquisition by the Penske organization will carry the future of the legendary Speedway and the IndyCar Series forward for the next generation of racing fans.

It was the vision of Carl Fisher to build the Indianapolis Motor Speedway (IMS) in 1909 and the track hosted its first races later that year. Eddie Rickenbacker later purchased the Speedway in 1927 before selling it to Tony Hulman and Hulman & Company in 1945. IMS has been the host of the world’s largest single-day sporting event – the Indianapolis 500 Mile Race – for more than 100 years. The iconic venue has also hosted NASCAR, Formula One, and other racing series events throughout its storied history. The NTT IndyCar Series continues to be the premier open-wheel racing series in North America and is one of the most competitive championships in the world. IMS Productions is a leading video services and production company.

“We recently approached Roger Penske and Penske Corporation about this opportunity and began working to put an agreement in place,” said Tony George, Chairman of Hulman & Company. “The Indianapolis Motor Speedway has been the centerpiece and the cathedral of motorsports since 1909 and the Hulman-George family has proudly served as the steward of this great institution for more than 70 years. Now, we are honored to pass the torch to Roger Penske and Penske Corporation, as they become just the fourth owner of the iconic Speedway. There is no one more capable and qualified than Roger and his organization to lead the sport of IndyCar racing and the Indianapolis Motor Speedway into the future.”

Penske Corporation has a rich history of managing major motorsports properties, beginning with the acquisition of Michigan International Speedway in 1973. Over the course of its history, Penske and its subsidiaries have also operated the Grand Prix of Cleveland, Nazareth Speedway, and California Speedway, along with investments in North Carolina Motor Speedway and Homestead-Miami Speedway. Penske Corporation currently promotes and operates the Detroit Grand Prix hosted annually at the Belle Isle Park street circuit.

“My passion for racing began at the Indianapolis Motor Speedway in 1951 when I attended the Indianapolis 500 with my father,” said Roger Penske, whose race team celebrated its 50th anniversary of first competing at IMS this year. “We have so much respect and appreciation for the history and tradition of the Speedway and the sport of IndyCar racing. I want to thank Hulman & Company for the opportunity to build on this legacy and it will be an honor for Penske Corporation to help lead these great institutions forward into a new era.”

“The Indianapolis Motor Speedway, the Indianapolis 500 Mile Race, and the NTT IndyCar Series have enjoyed considerable growth over the past decade, with significant increases in television, digital, and social media audiences combined with record attendance at many of our race venues,” said Mark Miles, President and CEO of Hulman & Company. “With their track record of business success, their venue, operation and event experience, and their passion for motorsports, Roger Penske and Penske Corporation will help us take the IndyCar Series, the Indianapolis Motor Speedway, and all of our properties to new heights. Everyone on our team looks forward to working with them to capitalize on the momentum that the Series and the Speedway have achieved.”

IMS Press Release

Field of 16 Drivers Poised to Kick Off NASCAR’s Playoffs in Las Vegas

INDIANAPOLIS, INDIANA – SEPTEMBER 08: Ryan Newman, driver of the #6 Acorns Ford, Kyle Larson, driver of the #42 McDonald’s Chevrolet, Erik Jones, driver of the #20 STANLEY Wish For Our Heros Toyota, William Byron, driver of the #24 Liberty University Chevrolet, Martin Truex Jr, driver of the #19 AOI Toyota, Clint Bowyer, driver of the #14 Rush/Cummins Ford, Ryan Blaney, driver of the #12 Wabash National Ford, Chase Elliott, driver of the #9 NAPA AUTO PARTS Chevrolet, Denny Hamlin, driver of the #11 FedEx Express Toyota, Alex Bowman, driver of the #88 Nationwide Chevrolet, Kurt Busch, driver of the #1 Monster Energy Chevrolet, Kyle Busch, driver of the #18 M&M’s Toyota, Joey Logano, driver of the #22 Shell Pennzoil Ford, Brad Keselowski, driver of the #2 Discount Tire Ford, Kevin Harvick, driver of the #4 Mobil 1 Ford, Aric Almirola, driver of the #10 Smithfield/Meijer Ford, during the Monster Energy NASCAR Cup Series Big Machine Vodka 400 at the Brickyard at Indianapolis Motor Speedway on September 08, 2019 in Indianapolis, Indiana. Photo by Brian Lawdermilk/Getty Images

DAYTONA BEACH, Fla. – The 16-driver Monster Energy NASCAR Cup Series Playoff field was set Sunday at Indianapolis Motor Speedway with the same kind of drama and storyline fans can expect of the highly-anticipated ten-race Playoff that begins this weekend at Las Vegas Motor Speedway.

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Fan4Racing NASCAR & Race Talk Review of Indianapolis – Monday, September 9, 2019

Guests on this episode include...

Dean Thompson

NASCAR Whelen All-American Series driver with High Point Racing talks about his 2019 season at Kern County Raceway and Irwindale Speedway.

Joe Graf Jr

ARCA Menards Series driver with Chad Bryant Racing talks about his 2019 season and helps preview their upcoming race at Salem Speedway this coming weekend.

Jace Jones

NASCAR Whelen All-American Series driver, with High Point Racing after winning at Kern County Raceway this past weekend.

Join host Sharon Burton and co-host Sal Sigala this Tuesday night 8:30 to 10 pm ET as we bring fans the smartest race talk around on Fan4Racing NASCAR & Race Talk Review!

Stay tuned in 10 to 10:30 pm ET for NASCAR Hot Topics Sound Off with co-host Andy Laskey as our Fan4Racing crew discusses the hottest topics from the weekend of racing,

We’re talking all the latest from Indianapolis Motor Speedway in the Monster Energy NASCAR Cup and Xfinity Series. We’ll also provide a few updates from the Gander Outdoors Truck Series, K&N Pro Series, ARCA Menards Series, and more.

Call 929-477-1790 or tweet @Fan4RacingSite with any questions or comments during our LIVE broadcast.

Our LIVE broadcast starts at 8:30 pm ET on Monday, September 9, 2019.

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