Team Penske buy ICONIC IndyCar circuit

Team Penske have announced the acquisition of the Grand Prix Association of Long Beach, LLC.

The association runs the iconic Acura Grand Prix of Long Beach, set for its 50th year on the IndyCar calendar in April of 2025.

READ MORE: Axed IndyCar star admits major financial difficulties

An official statement hinted at 'significant investment' in the race's infrastructure and organization as it reaches its half century, which will return to network TV on Fox next year.

Fox's new deal to show all 17 IndyCar races starting in 2025, making the series the only major American motorsport championship to have every single round broadcast on network TV.

A new era begins 👀

Penske Entertainment and the Grand Prix Association of Long Beach join forces to usher in the next chapter of the @GPLongBeach. pic.twitter.com/sZKJmlbubn

— NTT INDYCAR SERIES (@IndyCar) November 14, 2024

READ MORE: IndyCar team eyeing 'next level' as MAJOR change confirmed

What will happen to the Long Beach Grand Prix?

Team Penske owner Roger Penske said: “We’re incredibly proud to be the new stewards of this cherished and iconic event. This is the most historic and prestigious street circuit race in North America, and we’re excited to work with Jim Michaelian and his great team in Long Beach to ensure continued success and growth over the long term.

"This race and its loyal fans matter so much to everyone across the INDYCAR community, and we’re looking forward to a very special 50th anniversary celebration this April, as well.”

Jim Michaelian, Acura Grand Prix of Long Beach President & CEO, added: “As we prepare to celebrate a truly remarkable milestone, the 50th anniversary of this amazing event, it’s fitting that we have such exciting and important news to share about its future.

"Roger and the team at Penske Entertainment understand the special history and unique qualities that give us such a strong foundation and will be ideal partners as we continue to deliver an exceptional race weekend for our fans moving forward.

"I also want to acknowledge the significant contribution that the previous owners, Jerry Forsythe and the late Kevin Kalkhoven, made to the success of our event over the past 19 years.”

READ MORE: NASCAR star claims playoffs were FIXED and MANIPULATED

Related

IndyCar

Ex-F1 star facing IndyCar exit after driver signing confirmed

• December 20, 2024 00:00

IndyCar

Red Bull driver OPEN to IndyCar or NASCAR offers after career announcement

• December 16, 2024 21:00