Indycar team owner has bought the series
Hulman & Co. is selling the Indianapolis Motor Speedway and IndyCar to the Penske Corporation.
In 1859, Hulman & Co was formed strictly as a wholesale foods supplier. The company was created by Francis T. Hulman selling groceries, tobacco and liquor.
In 1945, they branched out into auto racing with the purchase of Indycar and the Indianapolis Motor Speedway.
Mark Miles is the CEO of the Terre Haute, Indiana company.
A press conference is scheduled for 11am. Miles along with Chairman Tony George and Penske Corp will sit at the table.
Penske has formerly owned NASCAR tracks. He was the owner of Michigan Speedway, Auto Club Speedway, Nazareth Speedway and South Carolina Speedway.
Team Penske was won the Indycar Series championship three times.
Team Penske field four cars in the NTT Indycar Series driven by Josef Newgarden, Helio Castroneves, Will Power and Simon Pagenaud.
Roger Penske has claimed the Indy 500 win 18 times as a car owner. His first victory in the race came in 1972 with the most recent in 2019.
The purchased price has not been released.
This story will be updated.