In a move that seemed to come out of no where, Roger Penske has purchased both IndyCar and the iconic Indianapolis Motor Speedway.
The deal with the 74-year-old Penske is expected to be finalized in January.
Penske owns Team Penske which fields cars in NASCAR and the IndyCar Series.
The Board of Directors of Hulman & Company will announce Monday the sale of the company and certain subsidiaries, including IndyCar, the speedway and IMS Productions to the Penske Entertainment Corp., a subsidiary of Penske Corporation.
A press conference is scheduled for 11 am Monday.
Penske is the winningest owner at the Indianapolis 500 with 18 wins including this year’s win by Simon Pagenaud. The owner also fielded Brad Keselowski’s car in his 2018 NASCAR Cup Series win at the track.