Penske Entertainment purchases Grand Prix of Long Beach
Penske Entertainment has purchased the Long Beach Grand Prix.
The acquisition adds the popular Southern California street race founded by Chris Pook and Dan Gurney in 1975 to a portfolio that includes the NTT IndyCar Series, the Indianapolis Motor Speedway and the Detroit Grand Prix. Penske Entertainment is also involved at varying levels in promoting IndyCar’s Iowa Speedway, Milwaukee Mile, and the upcoming Arlington Grand Prix in 2026.
Earlier this year, and after receiving inquiries from rival sanctioning bodies about buying the event, longtime IndyCar team owner Gerry Forsythe acquired the half of the grand prix offered for sale by the estate of his late partner Kevin Kalkhoven and became its sole owner, ending any speculation as to whether NASCAR or Formula 1 would buy the event and replace IndyCar.
In the sale to Penske, the steward of IndyCar and its marquee Indy 500 has taken ownership of its second-most popular event, which also features IMSA’s WeatherTech SportsCar Championship as its Saturday feature, and heads into 2025 when Long Beach will celebrate its golden anniversary
“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,” said Acura Grand Prix of Long Beach CEO Jim Michaelian.
“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,” said Acura Grand Prix of Long Beach CEO Jim Michaelian.
“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, Gerry Forsythe and the late Kevin Kalkhoven, made to the success of our event over the past 19 years.”
Roger Penske will retain Michaelian and his highly experienced Grand Prix At Long Beach promotions team.
“We’re incredibly proud to be the new stewards of this cherished and iconic event,” Penske said. “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.”
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