In a move that solidifies its dominance in the world of motorsports, Penske Entertainment has acquired the Long Beach Grand Prix, a beloved and historic street race that has captivated audiences for decades. This strategic acquisition adds to Penske's growing portfolio, which already includes the NTT IndyCar Series, the Indianapolis Motor Speedway, and the Detroit Grand Prix, among other prestigious events.

Unlocking the Potential of a Motorsports Gem

A Storied Legacy Finds a New Caretaker

The Long Beach Grand Prix, founded in 1975 by Chris Pook and Dan Gurney, has long been a crown jewel of the IndyCar calendar, drawing legions of passionate fans to the streets of Southern California. With its unique blend of high-speed action, stunning scenery, and rich history, the event has cemented its place as the second-most popular race on the IndyCar schedule, behind only the iconic Indianapolis 500.Under the stewardship of longtime IndyCar team owner Gerry Forsythe and the late Kevin Kalkhoven, the Grand Prix has flourished, becoming a must-see event for motorsports enthusiasts around the world. However, with Forsythe's recent acquisition of the remaining stake in the event, the stage was set for a new chapter in the race's storied history.

Penske's Vision for the Future

Enter Roger Penske and his team at Penske Entertainment, who have now taken the reins of this cherished event. Penske, the legendary figure in motorsports, has long been a driving force behind the growth and success of the IndyCar Series, and his acquisition of the Long Beach Grand Prix is a testament to his unwavering commitment to the sport."We're incredibly proud to be the new stewards of this cherished and iconic event," Penske said. "This is the most historic and prestigious street circuit race in North America, and we're excited to work with Jim Michaelian and his great team in Long Beach to ensure continued success and growth over the long term."With Penske's vast experience and resources, the future of the Long Beach Grand Prix looks brighter than ever. The new owners have pledged to maintain the event's unique character and legacy, while also exploring ways to enhance the overall experience for both fans and participants.

Celebrating a Golden Anniversary

As the Long Beach Grand Prix prepares to celebrate its 50th anniversary in 2025, the timing of Penske's acquisition could not be more auspicious. The event's longtime CEO, Jim Michaelian, expressed his enthusiasm for the partnership, stating, "As we prepare to celebrate a truly remarkable milestone, the 50th anniversary of this amazing event, it's fitting that we have such exciting and important news to share about its future."Michaelian's confidence in Penske's ability to steward the event's legacy is palpable, and he has pledged to work closely with the new owners to ensure a seamless transition and continued success. "Roger and the team at Penske Entertainment understand the special history and unique qualities that give us such a strong foundation and will be ideal partners as we continue to deliver an exceptional race weekend for our fans moving forward."

A Strengthened IndyCar Ecosystem

The acquisition of the Long Beach Grand Prix further solidifies Penske's grip on the IndyCar ecosystem, as the company now holds ownership stakes in some of the series' most prestigious events. This strategic move not only ensures the long-term viability of the Long Beach race but also strengthens the overall appeal and stability of the IndyCar Series.By aligning the Long Beach Grand Prix with Penske's other motorsports properties, such as the Indianapolis Motor Speedway and the Detroit Grand Prix, the company can leverage its expertise, resources, and marketing prowess to elevate the entire IndyCar experience. This, in turn, will benefit the series' drivers, teams, and, most importantly, the legions of devoted fans who flock to these events year after year.