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Roger Penske buys Indycar, Indianapolis Motor Speedway


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#101 Branislav

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Posted 04 November 2019 - 18:38

NEWS: Hulman & Company is announces the sale of the company & certain subsidiaries, including the Indianapolis Motor Speedway, the NTT IndyCar Series and Indianapolis Motor Speedway Productions (IMS Productions), to Penske Entertainment Corp., a subsidiary of Penske Corporation

 

From Twitter. 

 

If true. Wow. 

This is only a mask. True buyer is Nascar who started to shop everything that has to do with racing.



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#102 loki

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Posted 04 November 2019 - 18:42

48855715333_77bc82900c_c.jpg



#103 Tsarwash

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Posted 04 November 2019 - 18:46

This is only a mask. True buyer is Nascar who started to shop everything that has to do with racing.

Do you have any evidence for that claim ? You seem to state it as fact. 



#104 red stick

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Posted 04 November 2019 - 18:50

With seventeen wins,

has not Roger Penske owned

the Speedway for years?

 

:cool:



#105 paulb

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Posted 04 November 2019 - 18:50

The more I think about this major transaction, the more content I am.

 

I think it is most appropriate that Roger Penske is the man to carry on the legacy of IMS and Indycar.



#106 red stick

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Posted 04 November 2019 - 18:56

This is only a mask. True buyer is Nascar who started to shop everything that has to do with racing.

No puppet.  You're the puppet . . .

 

:smoking:



#107 PayasYouRace

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Posted 04 November 2019 - 18:56

This is only a mask. True buyer is Nascar who started to shop everything that has to do with racing.

 

I've seen plenty of nonsense posted here, but claiming that Roger Penske is a NASCAR agent is near the top of the list.



#108 red stick

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Posted 04 November 2019 - 18:59

The more I think about this major transaction, the more content I am.

 

I think it is most appropriate that Roger Penske is the man to carry on the legacy of IMS and Indycar.

 

At the very least you can be sure it's not an impulse buy, and has been thoroughly vetted, deemed to be reasonably profitable, and presumably they have a clear plan going forward.  Awaiting further news this off-season should be interesting.


Edited by red stick, 04 November 2019 - 19:00.


#109 aportinga

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Posted 04 November 2019 - 19:03

Cool I can go back to IMS now!

 

Where's Buford???


Edited by aportinga, 04 November 2019 - 19:03.


#110 prommer

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Posted 04 November 2019 - 19:04

I have a hard time imagining Team Penske being sold. But I expect Roger will stop having anything to do with its Indycar operations.

 

Getting ahead of myself, but a portion of what makes team Penske amazing is that stockpile of big name corporate sponsors that want to do business with him.  Hitachi, Verizon, PPG, Panasonic, etc.

 

The question in my mind is, are they loyal to Team Penske or to Roger Penske himself? Methinks its the latter, and I can imagine that their involvement in the series might extend to more than just having a name on a sidepod.  The coolest thing I could think of is Penske/IMS brokering deals that allow sponsorship opportunities to go to smaller teams based on performance. Juncos fights their way into the 500 on bump day?  Cool, Juncos gets to run the Menard's hi-lighter for the rest of the month!



#111 jonpollak

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Posted 04 November 2019 - 19:10

Shunk posted this classic.

CCD949-D8-6-C3-A-49-C5-BB61-3986-A131660

Jp

#112 ArrowsLivery

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Posted 04 November 2019 - 19:18

Will he veto kers and halo?

#113 red stick

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Posted 04 November 2019 - 19:19

No.



#114 PayasYouRace

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Posted 04 November 2019 - 19:21

Will he veto kers and halo?

 

Indycar isn't planning to use either.

 

But they will definitely be using their protective screen, especially as drivers have died or been serious injured in recent years without that level of protection. They'll also be using hybrid technology because that's just the way cars are heading.



#115 FLB

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Posted 04 November 2019 - 19:22

Quite the opposite, I would think.

 

(In regards to vetoing the halo and hybridization)



#116 Henri Greuter

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Posted 04 November 2019 - 19:24

Cool I can go back to IMS now!

 

 

 

 

I wonder for how many locals in the area it is exactly the other way around......



#117 PayasYouRace

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Posted 04 November 2019 - 19:25

Cool I can go back to IMS now!

 

Where's Buford???

 

Is this like a pub ban situation? Now with a new owner you can go back to your local?



#118 FLB

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Posted 04 November 2019 - 19:25

Another positive: Roger Penske may be fiscally conservative (he's a lifelong Republican), but he's kept employed a driver who did exactly the same thing as Hinch (i.e. pose nude in the ESPN Magazine Body Issue).



#119 eibyyz

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Posted 04 November 2019 - 19:39

Getting ahead of myself, but a portion of what makes team Penske amazing is that stockpile of big name corporate sponsors that want to do business with him.  Hitachi, Verizon, PPG, Panasonic, etc.

 

The question in my mind is, are they loyal to Team Penske or to Roger Penske himself? Methinks its the latter, and I can imagine that their involvement in the series might extend to more than just having a name on a sidepod.  The coolest thing I could think of is Penske/IMS brokering deals that allow sponsorship opportunities to go to smaller teams based on performance. Juncos fights their way into the 500 on bump day?  Cool, Juncos gets to run the Menard's hi-lighter for the rest of the month!

 

Team Cindric just doesn't roll off the tongue...



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#120 prommer

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Posted 04 November 2019 - 20:10

Another positive: Roger Penske may be fiscally conservative (he's a lifelong Republican), but he's kept employed a driver who did exactly the same thing as Hinch (i.e. pose nude in the ESPN Magazine Body Issue).

 

Needs more visuals:

 

ifhuelyo7gvmzdqcxc2b.jpg

 

I'm just thankful JPM never followed in Helio's footsteps.



#121 grunf77

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Posted 04 November 2019 - 20:36

I have no words for this, I had to check headline two or three times.

 

I am gonna check trackforum now, is probably complete meltdown there.


Edited by grunf77, 04 November 2019 - 20:50.


#122 RacingGreen

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Posted 04 November 2019 - 20:51

It's really no different than Trump hosting the G8 conference at Doral Internat....never mind.

 

No it's like Trump writing the ancient and modern rule book, paying all the course stewards, owning Augusta and then deciding to play in the Masters himself. This is a massive conflict of interest and I don't see how this is good for the sport as a whole. What manufacturers or other competitors are going to want to play in a series where one team owns both the bat and ball?

 

Having said the above if the alternative was someone like CVC Capital I think I'd rather Roger owned it.



#123 grunf77

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Posted 04 November 2019 - 20:55

All Penske now has to do is to buy F1... :lol:



#124 BiggestBuddyLazierFan

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Posted 04 November 2019 - 21:00

Even Roger or is it Rodger Penske will die one day just like old mr. Hulman died. Everybody dies. Only money lives on. Money is immortal and is running the world. It just happens to be that mr. Penske is currently controling large amounts of money. One day he will be gone. Cindric will continue but Jay will be jelaous and the empire will disapear. Money will migrate on to another entrepneur chariot and IMS will change hands once again. Money rules the world. People die. And love insipres us. Without love of the people towards IMS, money would never decide to buy it. It would just be pile of asphalt and concrete. It is how the world functions these days. We love piles asphalt and concrete. And thus we let soulles money rule the world without even knowing it.

Edited by BiggestBuddyLazierFan, 04 November 2019 - 21:03.


#125 Cynic2

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Posted 04 November 2019 - 21:06

Roger mentioned he had talked to AJ before the announcement, among many others, and that he was supportive as well.

 

In one of those racing coincidences, Roger Penske and A.J. Foyt were teammates (drove for the same team at the same time) in the distant  past.

 

I think this was two years after Sports Illustrated named Penske the "Road Racing Driver of the Year."

 

I'm sure Red Stick knows that Penske was a driver for Jim Hall's Chaparral team.

 

His background in motor sport is simply incredible, as well as his success in business.  There is no better person to own the Speedway.



#126 BiggestBuddyLazierFan

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Posted 04 November 2019 - 21:10

In one of those racing coincidences, Roger Penske and A.J. Foyt were teammates (drove for the same team at the same time) in the distant past.

I think this was two years after Sports Illustrated named Penske the "Road Racing Driver of the Year."

I'm sure Red Stick knows that Penske was a driver for Jim Hall's Chaparral team.

His background in motor sport is simply incredible, as well as his success in business. There is no better person to own the Speedway.


Its such a small comunity that everyone was eweryones teammate at some point if their time in sport spans more than half a century as is the case with AJ and Penske

#127 krapmeister

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Posted 04 November 2019 - 21:27

Better update that to 3661 locations Cynic


And 1 Bathurst 1000 victory...

#128 ezequiel

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Posted 04 November 2019 - 21:57

Al hail our new Penske overlord



#129 aportinga

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Posted 04 November 2019 - 21:57

I wonder for how many locals in the area it is exactly the other way around......

 

Well Penske is good friends with Trump so they should cancel out.



#130 aportinga

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Posted 04 November 2019 - 21:59

Is this like a pub ban situation? Now with a new owner you can go back to your local?

 

Naw - I probably won't go back unless F1 comes back to town.

 

We can re-unite at RAM Brewery, if that's still around.

 

**** I don't even know if the orgininal members are still around.



#131 jonpollak

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Posted 04 November 2019 - 22:23

RAM has moved to Broad Ripple I think. ...
There are loads of new fun places on Main street in Speedway.

Jp

#132 GenJackRipper

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Posted 04 November 2019 - 22:26

Can't he invest all that money into a F1 team?
Penske F1 :)



#133 SKL

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Posted 04 November 2019 - 22:52

Too bad he didn't buy it before George ruined open wheel racing with his IRL "experiment."



#134 whitewaterMkII

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Posted 04 November 2019 - 22:52

No it's like Trump writing the ancient and modern rule book, paying all the course stewards, owning Augusta and then deciding to play in the Masters himself. This is a massive conflict of interest and I don't see how this is good for the sport as a whole. What manufacturers or other competitors are going to want to play in a series where one team owns both the bat and ball?

 

Absolutely!

Just like when he owned Michigan, Fontana and runs Detroit!

He writes rules just for those races!

 

:rolleyes:

Go, home, you've had one too many...



#135 dweller23

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Posted 04 November 2019 - 22:55

Can't he invest all that money into a F1 team?
Penske F1 :)

I don't think Penske wants to go back to F1, I think he stated that many times.



#136 loki

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Posted 04 November 2019 - 23:00

Fantastic news, glad to see he bought it than some venture fund like Liberty.

 

Liberty is an operating company.  Not a VC or PE.  They buy to run them and make money from the stock.  Eventually he does sell some of his holdings but he thinks there is value in F1 (or at least did when he bought it...).  I see him trying to parlay the F1 streaming service into a more broad sports streaming service.  CVC is an investment bank and bought F1 to fatten it up and sell it for a profit.   Looks like they did OK on that one.



#137 loki

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Posted 04 November 2019 - 23:02

No it's like Trump writing the ancient and modern rule book,

That’s preposterous.  Trump doesn’t know how to write...



#138 nickp

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Posted 04 November 2019 - 23:08

This is a fresh start and Penske has be involved in ALL motorsports for so many years His company will bring a fresh perspective



#139 Xpat

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Posted 05 November 2019 - 00:02

I suspect Tony George was forbidden from selling by his mother. Since she passed last year, almost exactly 1 year ago to the day, he was probably free to do so.

Tony looked like a great weight had been lifted. I didn’t like what he did with the split but I know Tony from meeting him when Ed was in school with my sister. He’s a good man and I wish him the best.

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#140 jonpollak

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Posted 05 November 2019 - 00:15

Chatter atm is.

Miles, Frye and Boles stay.
Rick Mears to take a prominent role.

From Reddit: Robin Miller has a take on this.
https://www.reddit.c...utm_name=iossmf

Jp

#141 paulb

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Posted 05 November 2019 - 00:20

^Chatter sounds good. Boles is supremely passionate about IMS. His DWR interview is very revealing.

#142 Cynic2

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Posted 05 November 2019 - 00:33

I suspect Tony George was forbidden from selling by his mother. Since she passed last year, almost exactly 1 year ago to the day, he was probably free to do so.

Tony looked like a great weight had been lifted. I didn’t like what he did with the split but I know Tony from meeting him when Ed was in school with my sister. He’s a good man and I wish him the best.

Absolutely.   The sisters have wanted to sell the property for years, but as long as Mari was alive it wasn't going to happen.  The fact that she died exactly one year ago almost to the day (November 3, 2018) makes me wonder if there wasn't an agreement or codicil or something forbidding the sale for one year after her death.



#143 RacingGreen

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Posted 05 November 2019 - 00:39

Absolutely!

Just like when he owned Michigan, Fontana and runs Detroit!

He writes rules just for those races!

 

:rolleyes:

Go, home, you've had one too many...

 

There is a big difference between running in an event while owning a venue sanctioned by a third party to run that event and owning and competing in the same competition.  The conflict of interest magnified by an order of magnitude and I'm surprised that you can't see that.

 

....and there is no need to be rude ("one too many") just because you have lost the argument. I suggest you save those sort of comments for other forums which thrive on that sort of thing.



#144 chrisj

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Posted 05 November 2019 - 01:19

How can this be a bad thing for motorsport? I don't particularly like Penske, but he seems to make a huge success of everything he touches.


Edited by chrisj, 05 November 2019 - 01:29.


#145 loki

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Posted 05 November 2019 - 02:25

Absolutely.   The sisters have wanted to sell the property for years, but as long as Mari was alive it wasn't going to happen.  The fact that she died exactly one year ago almost to the day (November 3, 2018) makes me wonder if there wasn't an agreement or codicil or something forbidding the sale for one year after her death.

Or it took them that much time to find a buyer.



#146 loki

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Posted 05 November 2019 - 02:27

I see some people mentioning 'conflict of interest' but Indycar is bigger than just the Penske Team and I think Roger will know that to get the rewards from the larger asset he needs to keep the other team owners onside - possibly even to the detriment of his own team. Even Bernie E. had to ditch the Brabham Fan-car to keep the FOCA together.

Except that’s not what he did when he owned a CART franchise.  Penske is always going to do what’s in the best interest of Penske.  His track record is pretty solid on that front.



#147 jonpollak

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Posted 05 November 2019 - 03:13

I think you may find he’ll protect the product and the Speedway as his baby just like the corporation.

I have no worries about his ‘stewardship’

Jp

#148 jonpollak

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Posted 05 November 2019 - 03:59

Kind of curious to hear what Donald Davidson has to say on the matter.

Jp

#149 PlayboyRacer

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Posted 05 November 2019 - 04:05

Too bad he didn't buy it before George ruined open wheel racing with his IRL "experiment."

My thoughts exactly. I think this is a great thing for IndyCar. I don't see problems with 'conflicts of interest' tbh, the positives far outweigh any potential negatives. Nice work Roger.

Edited by PlayboyRacer, 05 November 2019 - 04:06.


#150 SPBHM

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Posted 05 November 2019 - 05:02

this could be great for Indy since Penske obviously knows what he is doing,

but I can see it being very uncomfortable for the other teams, Penske is already the top team of the series and now they also own the series.


Edited by SPBHM, 05 November 2019 - 05:02.