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‘What They’re Saying’ about Penske Corporation Purchase of Hulman & Company

Quotes from selected officials about the acquisition of Hulman & Company, including the Indianapolis Motor Speedway, NTT IndyCar Series and IMS Productions, by Penske Corporation. The transaction, announced Nov. 4, will close following receipt of applicable government approvals and other standard conditions:

ROGER PENSKE (Chairman and Founder, Penske Corporation): “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.”

TONY GEORGE (Chairman, Hulman & Company): “We recently approached Roger Penske and Penske Corporation about this opportunity and began working to put an agreement in place. 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.”

MARK MILES (President and CEO, 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.”

J. DOUGLAS BOLES (President, Indianapolis Motor Speedway): “The professionalism, integrity and values of Penske Corporation match perfectly with those of the Indianapolis Motor Speedway. Roger Penske and his entire company understand the history, legacy and tradition of the Speedway, and their passion for IMS is known and respected worldwide. We’re confident Penske Corporation will be a faithful, vibrant steward of this great facility and its events, ensuring a bright, successful future.”

JAY FRYE (President, INDYCAR): “The stewardship of this sport will have the unique opportunity to transition from one iconic institution to another in the Penske Corporation. This scenario for the future growth of the sport could not be more perfect. Roger Penske has been an integral part of this sport for more than a half-century, and his passion, vision and business acumen will ensure its future growth. We also would like to thank the Hulman-George family for their dedication to the sport and building the Indianapolis 500 into one of the most successful sporting events in the world over the past seven decades.”

ERIC HOLCOMB (Governor, State of Indiana): “The biggest single-day sporting event on planet Earth is about to get even bigger and better. I couldn’t be more excited about the future of the Indianapolis Motor Speedway with ‘The Captain’ Roger Penske at the helm. Mr. Penske’s vision, team and high expectations will ensure Indiana’s most iconic asset continues to grow. Along with INDYCAR, the Indianapolis Motor Speedway forms the core of an entire racing industry that employs thousands of people and pumps hundreds of millions of dollars into our economy. As a racing fan, my excitement is only equaled by my appreciation for the longtime Hulman-George commitment to the past and future of the sport of racing and to our great state.”

JOE HOGSETT (Mayor, City of Indianapolis): “Today marks the start of a new chapter for the city of Indianapolis, as the torch is passed from the Hulman-George family to another leader who shares a passion for the famed Indianapolis Motor Speedway and the legacy of INDYCAR. For decades, Hulman & Company has overseen one of Indianapolis’ greatest assets, acting as community partners and stewards of our state’s most prized tradition. Residents across the city and around the globe all have stories of the wonder of IMS, thanks to the dedication of the Hulman-George family. I know Roger Penske and the Penske Corporation will continue this legacy, acting as ambassadors for Indianapolis and presiding over another century of progress, innovation and sporting excellence at the world’s greatest racetrack.”

MICHAEL ANDRETTI (Owner, Andretti Autosport): “I think it’s positive news. Roger has always strived to do great things for both IMS and INDYCAR racing, and I’m sure he will continue to do so in this new ownership position. Both the Indy 500 and NTT IndyCar Series have been on a rise, and I look forward to the continued climb.”

ZAK BROWN (CEO, McLaren Racing): “I cannot think of a better owner than Roger Penske and his corporation to ensure the growth and future of INDYCAR. His business acumen and dedication to the sport and passion for the Indianapolis Motor Speedway are second to none. This is a landmark announcement that delivers confidence in a bright future for INDYCAR.”

CHIP GANASSI (Owner, Chip Ganassi Racing): “This is great news for the industry. The news will provide a shot in the arm to both the sport of auto racing and specifically to the IndyCar Series. Roger is a good friend and a class act, and all of his businesses are run well and with integrity. I couldn’t be happier for all of us that are involved with the sport.”

BOBBY RAHAL (Co-owner, Rahal Letterman Lanigan Racing): “Roger Penske’s commitment to the sport we love is over six decades long, and I am confident that his stewardship of the Indianapolis Motor Speedway and the IndyCar Series will ensure a great future for the sport. His many successful business ventures underline the fact that he is the perfect custodian of one of the most historic venues in the world and is the perfect architect to build the foundation for the next 100-plus years of the sport. We look forward to working with Roger in order to make the IndyCar Series and the Indy 500 the best it’s ever been.”

JOSEF NEWGARDEN (NTT IndyCar Series driver, Team Penske, 2017 and 2019 NTT IndyCar Series champion): “What the Hulman-George family has been able to accomplish and do, and the amount of interest they brought to the Indianapolis Motor Speedway, the Indianapolis 500 and the IndyCar Series is something that we will all forever be grateful for. The love and passion they’ve had for our sport over the years is evident and a reason we are where we are today. The future of the sport is bright with Roger Penske and everyone with Penske Corporation behind it. Getting to work with Roger over the last few years, you see the desire that has always set him apart, as evident by what he’s done in the business work. The amount of respect and confidence he has for the people who work with him is unparalleled. You’ve seen that already with the amount of integrity that has been shown from his peers – from other drivers and owners – who are excited for the future under his leadership. Today is a big day for open-wheel racing, and I think we all have to be excited about what’s to come.”

SIMON PAGENAUD (NTT IndyCar Series driver, Team Penske, 2019 Indianapolis 500 presented by Gainbridge winner, 2016 NTT IndyCar Series champion): “The Indianapolis Motor Speedway is such a historical place. It hosts the fastest and one of the oldest car races in the world. Beyond that, it is a place where passion starts for kids and families to experience an incredible event together. What the Hulman-George family has done with the Speedway is phenomenal. They have created a legend, and I can say that on a personal level IMS and INDYCAR have both changed my life. Walking into IMS gives you chills, and I'm very excited to see what the future holds. Roger Penske knows so much about IMS, and his passion for the Indianapolis 500 is unmatched. It is very exciting to think about how the Penske Corporation will grow the sport, and I can't wait to see how things develop going forward. IMS and INDYCAR are in great hands, and it makes me feel extremely positive about the future.”

GRAHAM RAHAL (NTT IndyCar Series driver, Rahal Letterman Lanigan Racing): “I can’t help but think that our series and IMS are in great hands. If you know anything about Mr. Penske, it’s that he holds his work to the highest of standards. I have no doubts that we will see INDYCAR and the Indy 500 rise to new heights.”

CURTIS FRANCOIS (Owner and CEO, World Wide Technology Raceway): “Roger Penske and his management team have been tremendous supporters of our efforts to improve our facility and grow motorsports at World Wide Technology Raceway. Roger is a respected visionary and has been a significant part of the past, present and now future of INDYCAR racing. Our team looks forward to working with Mr. Penske and the entire Penske Entertainment organization as we plan for the future. We also want to thank everyone at Hulman & Company for believing in us and providing St. Louis with the opportunity to host the greatest Saturday night event of the season."

 
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