Hulman & Co selling Indy Car Series to Penske Corp

One America News Network Sports 2 weeks ago

November 4, 2019

(Reuters) – Hulman & Company said on Monday 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 1945, where the crown jewel of American open wheel racing is held each Memorial Day weekend, will be joined by Penske Corp. Chairman Roger Penske for an 11am ET (1600 GMT) news conference to discuss the sale.

Financial terms of the deal were not disclosed.

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

After retiring from driving in 1965, Penske started his own race teams. Over the years he has built an automotive company with one 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, U.S. President Donald Trump awarded one of the nation’s highest civilian honors to Penske when he presented him with the Presidential Medal of Freedom.

(Reporting by Frank Pingue in Toronto, editing by Pritha Sarkar)


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The New York Times › Sports › 2 weeks ago
Hulman & Company said on Monday 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.
Washington Times › Sports › 2 weeks ago
Hulman & Company selling Indianapolis Motor Speedway, IndyCar Series and other properties to Penske Entertainment Corp.
The Boston Globe › Sports › 2 weeks ago
The 82-year-old Indy car legend viewed as the “perfect custodian” of Hulman and Co. properties in one of the biggest motorsports transactions in history.
USA Today › Sports › 2 weeks ago
Hulman & Co. is selling the Indianapolis Motor Speedway, IndyCar and related businesses to Penske Corp, the companies announced Monday.
Chicago Tribune › Sports › 2 weeks ago
Indianapolis Motor Speedway and the IndyCar Series have been sold to Penske Entertainment Corp. in a stunning Monday announcement that relinquishes control of the iconic speedway from the Hulman family after 74 years.
The New York Times › Finance › 2 weeks ago
Indianapolis Motor Speedway and the IndyCar Series have been sold to Penske Entertainment Corp. in a stunning announcement that relinquishes control of the iconic speedway from the Hulman family after 74 years.
ABC News › Finance › 2 weeks ago
Indianapolis Motor Speedway and the IndyCar Series have been sold to Penske Entertainment Corp. in a stunning announcement that relinquishes control of the iconic speedway from the Hulman family after 74 years
New York Daily News › Sports › 2 weeks ago
Indianapolis Motor Speedway and the IndyCar Series were sold to Penske Entertainment Corp. in a stunning move Monday that relinquishes control of the iconic speedway from the Hulman family after 74 years.
The New York Times › Sports › 2 weeks ago
Penske, a wildly successful team owner in auto racing, bought the iconic speedway and the IndyCar Series from the Hulman family, who have owned the track since 1945.
Washington Times › Sports › 2 weeks ago
Roger Penske was a car-loving, 14-year-old who regularly listened to the Indianapolis 500 on the radio when his father landed tickets to the 1951 race. They made the trek from Cleveland, and Penske fell in love when he saw the cars zipping around...
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