Roger Penske

IMS president discusses possibly lighting historic track under Penske leadership

5 Comments

Track president Doug Boles and Roger Penske were a part of a group that walked the grounds of Indianapolis Motor Speedway Tuesday until they couldn’t.

They simply ran out of light at the historic 2.5-mile track.

“We didn’t leave last night until it got too dark to see in some of the buildings that we’ve turned the power off in different places around the facility (to save money),” Boles said Wednesday on SiriusXM NASCAR Radio’s “The Morning Drive.” “(Penske) finally said, ‘OK, we’ve had enough, that’s great.'”

Penske’s group, which was touring the facility the racing legend will soon own pending government approval, could have kept going if the track had lights to brighten the facility for night racing and other events.

The prospect of lighting the track – which hosts the Indianapolis 500 in May and the Brickyard 400 on July 5 next year – has picked up buzz since it was announced Monday that Penske would purchase the track, IndyCar and IMS Productions from Hulman & Company.

MORE: Penske bullish on Brickyard 400, NASCAR-IndyCar doubleheaders

But Boles told SiriusXM NASCAR Radio the idea of equipping the 108-year old track with lights is not a new one.

“I’ve been there for nine years and I’ve been in this position for six, and over the last several years … we’ve often talked about things we could do to invest and make this (track) way better,” Boles said.

“Lights are one that we’ve had a serious conversations about. But we’ve never really been able to sit down and think about, ‘Ok, does this make sense? How can you invest this and really make it pay off?’ Or how can we look at it and say ‘This is what the investment would be and there’s no way that it ever pays off. So let’s move on.’ Having Roger Penske, the Penske organization, the deep bench that they have to help you understand, look at data, understand how you get from Point A to Point B or how you say, ‘Look, we don’t want to go from Point A to Point B because it doesn’t make sense. We’re going to pivot.’

“That’s what he brings.”

Boles further discussed the “fiscal impact” of lights at IMS.

“There’s ROI (Rate of Investment) impact,” Boles said. “If you invest $20 plus million dollars in lights at the Indianapolis Motor Speedway, how long does it take to pay that off? Not only is Roger passionate about motorsports. He’s a great businessman and he’s going to make an investment that makes sense for everything. So we have a lot to look at. I think that’s something we’ll definitely keep looking at and his team will keep looking at and we’ll see where it goes.”

Boles said any plans for lights would face “a hurdle” with the community in Speedway, Indiana. But Boles said it would really be a hurdle if “we started thinking about an endurance race.”

“The nice thing about our community though is Indianapolis Motor Speedway was built in a corn field and the neighborhood has come up around it,” Boles continued. “Most of the people that live in and around the Indianapolis Motor Speedway live there because they love it. So we have a base there that wants to be supportive of any of our events.”

Part of early discussions about lights have even included an analysis from Musco Lighting, a company responsible for installing lights at race tracks and other sporting facilities.

“Musco’s really helped us understand what it would cost to light not just the race track, but the rest of the facility,” Boles told SiriusXM NASCAR Radio. “So (we’re) walking through those studies at a really high level with Roger and his team so at least that seed he’s sort of planted in the announcement, he can start beginning to look at and decide if it’s something we should move forward with.”

Roger Penske bullish on future of Brickyard, IndyCar doubleheaders

1 Comment

The future of the Brickyard 400 suddenly seems much more secure under new ownership.

In announcing his company’s purchase of the Indianapolis Motor Speedway and IndyCAR NTT Data Series, Roger Penske voiced unwavering support Monday morning for the fabled track’s NASCAR race.

Next year, the Brickyard will move to the July 4 weekend after a two-year run in September, raising questions about its long-term viability amid a decadelong trend of plummeting attendance.

But Penske said his new leadership would “get behind (the Brickyard) in a big way” and cited its longevity – next year will be the 27th Brickyard — as a reason why he wants to look at adding a 24-hour sports car race and possibly bring back Formula One.

“I think you look at 27 years, there’s no reason to break that string of races,” he said.

Penske called NASCAR chairman and CEO Jim France late Sunday night to inform him about the transfer of ownership at IMS, which has been owned by the Hulman-George family since 1945.

“(France) obviously was excited,” Penske said. “We’ve worked together. We were partners with ISC at Homestead. We actually sold our business to them back several years ago. So we have a very close relationship and certainly with Jim and with (NASCAR president) Steve Phelps and (senior vice president) Steve O’Donnell and the entire France family. We would expect to take this for many, many years.

“They need to run at Indiana. We want them to, and there’s no question that we’re going to look at opportunities to expand the relationship with them in the future.”

In a statement from NASCAR, France said, “The Hulman-George family has been instrumental in the growth of motorsports through their passion for racing, elevating Indianapolis Motor Speedway and the IndyCar Series to a global scale, and we thank them for their leadership and significant contributions to NASCAR. Roger Penske is incredibly accomplished across both motorsports and business and we look forward to the successful operation of these properties under his experienced leadership.”

 Penske also has voiced his support for an IndyCar-NASCAR doubleheader weekend and said Monday he wanted to evaluate the concept in the wake of Team Penske’s Josef Newgarden turning laps at Charlotte Motor Speedway in an exhibition run during the track’s NASCAR weekend.

“I think it was interesting to see Newgarden run around what they call the Roval, and I think it was pretty exciting,” Penske said. “I think some of the fans had never seen an IndyCar on an oval or a racetrack.

“Are those things we can do? Can we execute those so we bring value here to the speedway? Look, we’ve got to break some glass on some of these things, don’t we. We’ve got to try some of this. I’m prepared to take a risk. No risk, no reward in many cases.”

Roger Penske to purchase IndyCar, Indianapolis Motor Speedway

11 Comments

Roger Penske will soon own IndyCar and Indianapolis Motor Speedway.

The development was revealed Monday morning by the track. The Board of Directors of Hulman & Company will announce later this morning the sale of the company and certain subsidiaries, including IndyCar, the historic speedway and IMS Productions to the Penske Entertainment Corp., a subsidiary of Penske Corporation.

The transaction will close following receipt of applicable government approvals and other standard conditions.

Roger Penske is the owner of Team Penske, which fields teams in IndyCar, NASCAR and IMSA.

Penske is the winningest owner in Indianapolis 500 history with 18 victories, including this year with Simon Pagenaud. He won the 2018 Brickyard 400 with Brad Keselowski.

Indianapolis Motor Speedway is one of three tracks the Cup Series competes on that is owned independently from NASCAR and Speedway Motorsports Inc. The others are Pocono Raceway and Dover International Speedway.

“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, in a press release. “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.”

Said Penske: “My passion for racing began at the Indianapolis Motor Speedway in 1951 when I attended the Indianapolis 500 with my father. 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.”

Said Mark Miles, President and CEO of Hulman & Company: “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. 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.”

NASCAR released the following statement from Chairman and CEO Jim France.

“The Hulman-George family has been instrumental in the growth of motorsports through their passion for racing, elevating Indianapolis Motor Speedway and the IndyCar Series to a global scale, and we thank them for their leadership and significant contributions to NASCAR. Roger Penske is incredibly accomplished across both motorsports and business and we look forward to the successful operation of these properties under his experienced leadership.”

President Donald Trump awards Medal of Freedom to Roger Penske

AP Photo/Alex Brandon
2 Comments

President Donald Trump awarded car owner Roger Penske the Medal of Freedom, the nation’s highest civilian honor, Thursday in a ceremony at the White House.

“A legend in so many ways,” President Trump said of Penske.

The Medal of Freedom was established by President John F. Kennedy in 1963 and is awarded to individuals who have made exceptional contributions to the security or national interests of America, to world peace or to cultural or other significant public or private endeavors.

“Receiving the Presidential Medal of Freedom is really something special,” Penske said during the White House ceremony, “and to me it means more than any business success or motorsports trophy.”

Others who have been awarded the Medal of Freedom since 2018 by President Trump include Tiger Woods, Elvis Presley, Supreme Court Justice Antonin Scalia, former NFL great Roger Staubach and former NBA greats Bob Cousy and Jerry West.

Team Penske has recorded 545 major race wins, 621 pole positions and 36 championships. His teams have won the Indianapolis 500 a record 18 times. He was inducted into the NASCAR Hall of Fame in January. His IndyCar team won the championship this year with Josef Newgarden. Team Penske has two drivers, reigning series champion Joey Logano and Ryan Blaney, in the Round of 8 in the NASCAR Cup playoffs.

Penske is the founder and chairman of Penske Corp., which manages businesses with consolidated revenues of more than $32 billion and employs more than 64,000 people worldwide.

 

 

Tony Stewart: NASCAR, IndyCar doubleheader would be a ‘kick ass weekend’

Getty Images
2 Comments

One NASCAR team owner believes a doubleheader race weekend between the NASCAR Cup Series and IndyCar would be a “kick ass weekend.”

If you guessed the owner is Tony Stewart, congratulations.

The remark from Stewart, the three-time Cup champion and 1997 Indy Racing League champion, came during his 12th annual Smoke Show at Texas Motor Speedway, which raises money for Speedway Children’s Charities.

His comments come a few weeks after IndyCar champion Josef Newgarden made the first laps in an IndyCar around the Charlotte Motor Speedway Roval.

“I think it would be awesome,” Stewart said. “(Texas Motor Speedway) would be a perfect place to do it, too. I think it would be really cool. It would be a weekend on my calendar that I would make sure I was at the Cup race that weekend for sure. It’s just never been done. The hardest part for both series is going to be how different the racetrack is. When you’d go to Pocono or anywhere that ARCA would run with the Cup Series and you’d have different rubber (tires), it definitely made a difference.

“I remember when we did the first demo run the night of the (NASCAR) All-Star race (at Charlotte Motor Speedway) in ’97, I remember how sketchy it was because the Goodyear rubber was down and we were on Firestone with IndyCar, and the rubbers really weren’t compatible. So that’s the only challenge they’ll have doing it. Aside from that, man, I think that’s about as big of a kick ass weekend as you could ever ask for in motorsports, is have two major series like that here at the same time.”

Support for an IndyCar-NASCAR doubleheader has been building since May, with a few Cup drivers voicing their approval during the Coca-Cola 600 race weekend.

Roger Penske, who owns teams in both series, gave his approval to the idea in June.

Based on their 2020 schedules, the only tracks the Cup Series and IndyCar will both visit throughout the year (but on separate weekends) are Texas Motor Speedway, Richmond Raceway and Indianapolis Motor Speedway.

The earliest a doubleheader could happen is 2021 as both series’ 2020 schedules are set.

IndyCar also visits tracks the Xfinity Series or Gander Outdoors Truck Series will race at on separate weekends: Iowa Speedway, World Wide Technology Speedway at Gateway, Mid-Ohio Sports Car Course and Road America.

But for Stewart, holding the potential doubleheader at the 1.5-mile track north of Forth Worth, Texas is the obvious choice.

“And it’s not because we’re sitting here right now,” Stewart said. “This is the place I would pick if you were going to do that kind of a weekend.”