race

On Thursday he expanded his empire by acquiring the Grand Prix of Long Beach, the longest-running major street race in North America and one of the largest and more important events on Southern California’s sporting landscape.

But he’s likely to get more involved in the race going forward.

“It’s an iconic race,” he said.

The acquisition of the Long Beach race, the second-longest-running race on the IndyCar schedule, complements another major change the series is making in 2025.

Rumors of Penske’s interest in purchasing the Long Beach race have been swirling for months, with the long list of other interested buyers said to include the France family, founders of NASCAR; Mark Walter, chairman of the Dodgers’ ownership group; and Liberty Media, which has a stake in Formula 1 racing.