History
Indianapolis Motor Speedway
Owners of the Indianapolis Motor Speedway
Carl G. Fisher, James A. Allison, Arthur C. Newby and Frank H. Wheeler
The Founders
Indianapolis Motor Speedway’s first owner group was led by Carl G. Fisher, and included James A. Allison, Arthur C. Newby and Frank H. Wheeler.
Fisher was an energetic impresario who overcame poor eyesight and a meager upbringing to spearhead the building of the Indianapolis Motor Speedway. This extraordinary man also developed Miami Beach from out of swamplands; headed up the Lincoln Highway commission, which raised the funds to build the first drivable coast-to-coast highway (completed in 1928), and created the Dixie Highway. Allison served as track president from 1923-1927, while Newby was president of the National Motor Vehicle Company, and Wheeler, a fan of Japanese architecture, may be the person responsible for advocating for the now iconic Pagoda.
Eddie Rickenbacker
In 1927, former Indianapolis 500 driver and World War I “Flying Ace” Captain Eddie Rickenbacker and associates purchased the Speedway for $750,000. Rickenbacker, who added the now famous Brickyard Crossing Golf Course, owned the facility through World War II and sold the track to Tony Hulman on Nov. 14, 1945.
Tony Hulman
At the end of WWII, the IMS facilities were in deplorable condition due to its closure during the war. It was believed by locals that the track was generally thought to be done for and that as soon as the war was over, it would probably be sold to developers and subdivided in preparation for the anticipated post-war housing boom. Hulman, of Terre Haute, Indiana, purchased it for $750,000, and a long-range program of improvements was launched immediately in anticipation to revitalize the Indy 500 in May 1946. Hulman would help elevate the Indianapolis 500 and the month of May to a new level. Wilbur Shaw was named president and general manager. Shaw would later popularize the tradition of announcing, “Gentlemen, Start Your Engines” in the early 1950s.
Roger Penkse
On No. 4, 2019, a new era dawned at IMS with a press conference announcing that the Hulman-George family would sell IMS, the INDYCAR SERIES and IMS Productions to Penske Corporation. At the press conference, Anton “Tony” George represented the family, while Penske Corp. Founder and Chairman Roger Penske and Hulman & Company CEO Mark Miles also participated. Roger Penske spoke of the honor of being just the fourth different ownership group in the century-plus history of the Speedway, as well as his ambition to turn the racetrack into a modern-day sports facility with an improved fan experience. Penske Corp. officially took ownership of the facility on Jan. 6, 2020, operating the Speedway, the IndyCar Series and IMS Productions under a new subsidiary, Penske Entertainment. On July 31, 2025, Penske Entertainment and FOX Corporation announced an enhanced partnership, with FOX acquiring a one-third interest in Penske Entertainment.