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Penske subsidiary purchases IndyCar and Indianapolis Motor Speedway
Penske Entertainment Corp - a subsidiary of the Penske corporation - has purchased the Indianapolis Motor Speedway and the NTT IndyCar Series from Hulman and Company. The shocking turn of events will now mean Team Penske will compete in a championship that will now be owned by its parent company. Team Penske has enjoyed a long period of success in IndyCar with 10 different drivers claiming 16 championships since 1977, as well as 18 victories in the world-famous Indianapolis 500, the latest coming from 2016 series champion Simon Pagenaud. A short statement released on Monday by IndyCar read: 'The Board of Directors of Hulman and Company are announcing the sale of the company and...
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