Penske Acquires Long Beach Grand Prix, Secures IndyCar Future

Billionaire Roger Penske has purchased the Long Beach Grand Prix, adding it to his expanding portfolio that includes the IndyCar series, Indianapolis Motor Speedway, and the Detroit Grand Prix. Acquired from Gerald Forsythe, this move ensures the race remains an IndyCar event through its contract with Long Beach until 2028. The Grand Prix attracts over 190,000 attendees annually and contributes an estimated $63 million to the Southern California economy each year. Penske plans to enhance the event's fan experience and maintain its status as a key part of the IndyCar series, which is set to move its broadcasting from NBC to Fox in 2025. The acquisition coincides with the upcoming 50th anniversary of the Grand Prix in April, with celebrations marking this milestone. Penske's strategic acquisition solidifies the Long Beach Grand Prix's place in the racing world, preventing potential takeovers by rival series like NASCAR or Formula 1.