News

Penske buys INDYCar and IMS

Discussion in 'Other Racing' started by Simon^2, Nov 4, 2019.

  1. TeamF1Jr

    TeamF1Jr Formula 3
    Rossa Subscribed

    Nov 8, 2003
    2,311
    Lake Mead
    FWIW, Roger's son Jay is still in Formula E. He was one of the founding team owners I think.
     
  2. TeamF1Jr

    TeamF1Jr Formula 3
    Rossa Subscribed

    Nov 8, 2003
    2,311
    Lake Mead
    So happy for Roger, IMS, the state, the town of Speedway. This is terrific news.

    Looks like Roger already thinking big: NASCAR/Indycar double header, 24 hour race, updating the IMS museum, return of F1?......etc.

    One thing that is a big deal in my book is with Roger in charge of both the Speedway and Indycar, every sponsor, every manufacturer now picks up the phone. That wasn't the case before.
     
  3. 375+

    375+ F1 Veteran
    Silver Subscribed Rossa Subscribed

    Dec 28, 2005
    6,970
    I will be interested to see what happens with the museum if anything.
     
    TheMayor likes this.
  4. Turbopanzer

    Turbopanzer F1 Veteran

    Oct 2, 2011
    9,402
    Under a bonnet
    Full Name:
    Panzer

    I hope he is. What I can't figure is what they can do to turn motorsports around. The younger people don't seem to have a passion for it, let alone a love for automobiles. Most see the automobile as a utility. Hard to sell a product to people who are indifferent to it.
     
    lorenzobandini and rdefabri like this.
  5. Jack-the-lad

    Jack-the-lad Four Time F1 World Champ
    Silver Subscribed

    Jun 22, 2004
    41,303
    Isle of Luci
    Full Name:
    Jack
    Salute to the Hulman-George family for making a deal with exactly the right guy. They must be thrilled, and a good bit richer.:)
     
  6. rdefabri

    rdefabri Three Time F1 World Champ
    Silver Subscribed

    Jun 4, 2008
    31,110
    NJ
    Full Name:
    Rich
    I’m glad Tony George is out, he’s an idiot.

    Penske is the man, let’s see what he can do.
     
    Nembo1777, 375+ and BMW.SauberF1Team like this.
  7. Turbopanzer

    Turbopanzer F1 Veteran

    Oct 2, 2011
    9,402
    Under a bonnet
    Full Name:
    Panzer
    He better do it quick. He isnt getting any younger!
     
    lorenzobandini and rdefabri like this.
  8. Raconteur

    Raconteur Formula Junior
    Silver Subscribed

    Jan 19, 2015
    681
    Portlandia, OR
    Full Name:
    Frank
    Total respect for Penske. The first couple of years at California Speedway after he built the track, the infielders received a copy of the LA Times daily and fresh water, FREE. Once the track was sold to International Speedway Corp, that went by the wayside. Sure, the paper and water were token, but it reflects his care for the fans and the fan experience.

    I think this is good news for Indy.
     
  9. BartonWorkman

    BartonWorkman F1 Veteran
    Sponsor Silver Subscribed

    Nov 3, 2003
    5,754
    En El 305
    Full Name:
    Barton Workman
    #33 BartonWorkman, Nov 5, 2019
    Last edited: Nov 5, 2019
    Robin Miller's take on Racer.com.

    The first jobs must be to find more engine and chassis manufacturers. This must be a
    priority.

    The thing about all this is, we know NASCAR has had their eye on IMS and Indy Car racing
    for years in their "Us vs. them" edict, waiting for the series to die a slow death so they could
    swoop in and buy it all for pennies on the dollar so they may run what's left of it into the ground.

    Penske enters the picture and that plan is off the table.

    Someone in the deep dark fake wood panel walled offices in Daytoner is none too happy. Now
    NASCAR has an open path to sell off to Disney or Comcast so they'll run what is left of NASCAR
    into the ground.

    Diabolical!

    https://racer.com/2019/11/04/miller-the-biggest-and-best-story-in-50-years/

    BHW
     
    ryanro24 and rdefabri like this.
  10. pilotoCS

    pilotoCS F1 Rookie
    Silver Subscribed

    May 19, 2019
    2,536
    Wash DC & Long Island
    Full Name:
    Willis B.
    What's a NASCAR?:p:p:p:):D
     
  11. GuyIncognito

    GuyIncognito Six Time F1 World Champ
    Silver Subscribed

    Jun 30, 2007
    68,685
    huh? France family is actively trying to sell NASCAR and ISC (hence why the "merged" the two together recently).

    I think they have little to no interest in another series. If they did, I think they would have made more of a run at the F1 rights that Liberty bought.
     
  12. BartonWorkman

    BartonWorkman F1 Veteran
    Sponsor Silver Subscribed

    Nov 3, 2003
    5,754
    En El 305
    Full Name:
    Barton Workman
    Yeah, think they missed their window.

    They were openly courting IMS and Indy Car 5-6 years ago however.

    BHW
     
    ryanro24 likes this.
  13. Jack-the-lad

    Jack-the-lad Four Time F1 World Champ
    Silver Subscribed

    Jun 22, 2004
    41,303
    Isle of Luci
    Full Name:
    Jack
    I’d love to see The Captain take Indycar to a few tracks in U.K. and Europe....maybe some that have been snubbed by F1 but are still up to standards. I remember when CART did that and I think it was pretty well received by the fans. Penske is a disruptor, but a stealthy one. Shaking up the Euros would be a good thing.
     
    375+ likes this.
  14. 375+

    375+ F1 Veteran
    Silver Subscribed Rossa Subscribed

    Dec 28, 2005
    6,970
    +1 Danny Ongais at Silverstone and Brands Hatch--On The Gas.
     
    Jack-the-lad likes this.
  15. william

    william F1 World Champ

    Jun 3, 2006
    15,233
    England
    Full Name:
    William Denoyelles
    I am all for it, although realistically, that would inevitably put the costs up.
    Can the teams afford that ? Can the series afford it ?

    Introducting several chassis and engines means competition among them , and permanant R&D by the constructors.
    That has to be paid for by higher budgets.
     
  16. BartonWorkman

    BartonWorkman F1 Veteran
    Sponsor Silver Subscribed

    Nov 3, 2003
    5,754
    En El 305
    Full Name:
    Barton Workman
    I've always said that the sponsors/teams throw away more money on their hospitality food than
    they do on testing annually. Bet, if that was investigated, I'd be right.

    Want a series to rival CART again?

    That means getting down to testing the week after one season ends with an eye towards the next.
    That means bringing in multiple engine and chassis manufacturers as at its height CART had
    Mercedes-Benz, Honda, Toyota, and Ford-Cosworth as engine makes and Reynard, Lola, Penske
    and Swift as chassis manufacturers.

    All this brings sponsorship money and their following media attention which means money flowing
    into the series.

    At its height, CART rivaled F-1 in terms of prestige and importance. F-1 drivers were regularly
    making the move over which put the series in the spotlight especially when Mansell came over
    as reigning F-1 World Champion.

    BHW
     
    Jack-the-lad and william like this.
  17. william

    william F1 World Champ

    Jun 3, 2006
    15,233
    England
    Full Name:
    William Denoyelles

    As I said before, I am all for it, but I don't know if the series can afford it.
    I also liked the era when CART was a worthwhile alternative to F1, but I don't know if we can relive that era.
    I only hope Indycar is in safe hands to take it to a successful future.
     
  18. the_stig

    the_stig F1 Rookie
    Silver Subscribed

    Sep 19, 2005
    3,331
    Roger was asked that question at the press conference and said he really likes going to the museum so at least for now it sounds like nothing changes.
     
  19. GuyIncognito

    GuyIncognito Six Time F1 World Champ
    Silver Subscribed

    Jun 30, 2007
    68,685
    did the car collection convey with the sale? if so he's now the proud owner of the last Ferrari to win Le Mans overall.
     
  20. 375+

    375+ F1 Veteran
    Silver Subscribed Rossa Subscribed

    Dec 28, 2005
    6,970
    The Museum is owned by the Indianapolis Motor Speedway Foundation, a 501(c) (3) organization. There have been some questionable sales in recent years but my guess is that nothing will change. Perhaps the Penske Museum in Arizona will become part of the Indianapolis Museum? Not quite sure how these things work.
     
    GuyIncognito likes this.
  21. pilotoCS

    pilotoCS F1 Rookie
    Silver Subscribed

    May 19, 2019
    2,536
    Wash DC & Long Island
    Full Name:
    Willis B.
    CART soared in the '90's. But, one must understand that the tobacco companies were dumping huge amounts of money there. Also, there were four engine manufacturers and a tire war. The wealth in the paddock was something to behold. I don't think that can ever be duplicated.
     
    william likes this.
  22. lorenzobandini

    lorenzobandini F1 Rookie
    Silver Subscribed

    william likes this.
  23. Turbopanzer

    Turbopanzer F1 Veteran

    Oct 2, 2011
    9,402
    Under a bonnet
    Full Name:
    Panzer
    Miller would serve himself well if he closed his mouth. The guy that signed the check to buy this obsolete mess has a plan. I trust that RP will do what is necessary. He may decide that an open formula would bring the manufacturers in to showcase each companies latest technology.The series does not need 33 "spec" hybrids. Somebody has a better idea. Let them show it on a world stage. Not in a half baked do nothing series.
     
    Jack-the-lad and GuyIncognito like this.
  24. ryanro24

    ryanro24 Karting

    Aug 23, 2005
    122
    NW Indiana
    Industry insiders estimate Penske got it all for roughly $300 million, plus promised additional capital improvements to the speedway.

    Three people with knowledge of the sale, speaking to AP on condition of anonymity because the details are intended to be private, said investment bank Allen & Co. was tasked with finding either a buyer or strategic partner and connected the family with Liberty Media, a media giant with ownership stakes in Formula One, the Atlanta Braves and the Sirius XM Group among others.

    Liberty was fairly unknown to George and he was uncomfortable, even as his three sisters encouraged the sale. As a family, they decided to see what Penske thought and "The Captain" was certain he wanted the reigns. One person familiar with Liberty's talks said the company balked at an initial asking price of $250 million and walked away from any potential deal when told there was another buyer in the game. There was a third group of investors who expressed interest, and just last week, a fourth individual tried to enter the bidding with a letter of credit for $250 million but was told by Allen & Co. it was too late.


    https://sports.yahoo.com/penske-jumped-chance-protect-iconic-205902886.html
     
    375+ likes this.
  25. Jack-the-lad

    Jack-the-lad Four Time F1 World Champ
    Silver Subscribed

    Jun 22, 2004
    41,303
    Isle of Luci
    Full Name:
    Jack
    I hope Penske resists the electrification impulse......
    I’d say we, as fans and enthusiasts, dodged a bullet, as did IMS and indycar.
     
  26. BMW.SauberF1Team

    BMW.SauberF1Team F1 World Champ

    Dec 4, 2004
    12,699
    Yeah, seems completely separate reading more about it online. Otherwise 300mm for IndayCar + IMS + that collection is an absolute steal.
     

Share This Page