NASCAR team owner Roger Penske has made another bold move in the world of motorsports, expanding his reach within the NTT IndyCar Series. Just three days after his team clinched its third consecutive NASCAR Cup Series title, Penske acquired the Grand Prix of Long Beach, one of North America’s most renowned street races. This purchase is a significant addition to Penske’s collection, as his team recently became the first to win the Cup championship with NASCAR’s new car.
The acquisition was confirmed on November 14 and includes the Grand Prix of Long Beach, previously owned by Gerald R. Forsythe. Penske, whose net worth is estimated at $6.9 billion by Forbes, now controls another prestigious racing event in Southern California. Penske Entertainment has also held ownership of the Indianapolis 500, the crown jewel of IndyCar racing, for five years. Penske intends to enhance the Long Beach race, which generates around $63 million for the local economy each year, and will work with the existing team to ensure its continued success.
Expressing his enthusiasm for the acquisition, Penske emphasized his commitment to preserving and expanding the legacy of the Long Beach Grand Prix. “We’re incredibly proud to be the new stewards of this cherished and iconic event,” he stated, calling it the most historic and prestigious street circuit race in North America. He also commended Jim Michaelian and his team for their dedication, pledging long-term growth and collaboration.
At 87, Penske’s influence in motorsports is extensive. His achievements include 17 IndyCar championships and 20 Indianapolis 500 victories. Recently, he launched a new race in Arlington and confirmed a broadcast switch to Fox in 2025.
Reflecting on his NASCAR team’s outstanding season, Penske praised their third consecutive championship win, marking the first time since 1998 that a team has secured three titles with different drivers. Joey Logano, this year’s Cup champion, also claimed the title in 2022. He narrowly advanced past the Round of 12 after Alex Bowman’s disqualification, ultimately securing his spot in the Championship 4. Ryan Blaney, the No. 12 driver for Team Penske, won the Cup title in 2023.
Despite an impressive season in NASCAR, Penske expressed disappointment over missing the IndyCar championship and falling short at the 24 Hours of Le Mans. Nonetheless, he acknowledged this NASCAR season as one of the team’s best, a testament to their hard work and resilience.
