P1racenews AI automatic summary:
Penske Entertainment announced Thursday that it has acquired the Grand Prix Association of Long Beach from Gerald Forsythe. The purchase brings the iconic Grand Prix of Long Beach IndyCar and IMSA street race under Roger Penske’s large portfolio. There is expected to be a significant monetary investment in the event under the new ownership that […]
The purchase of the Grand Prix of Long Beach IndyCar and IMSA street race by Roger Penske adds an iconic event to his extensive portfolio. With a significant monetary investment expected under new ownership, the area is set to receive a boost just in time for the event’s 50th running this Spring. Roger Penske expressed pride in becoming the new stewards of the event, emphasizing its historic significance and importance within the IndyCar community. This move adds another marquee event to Penske’s promotional umbrella, aligning with his broader vision for the sport. The synergies created by this acquisition will allow for more cohesive messaging and further growth opportunities within the IndyCar Series.
