LONG BEACH — Roger Penske’s fingerprints are all over the motorsports landscape in Southern California.
His latest venture will be overseeing the Acura Grand Prix of Long Beach in April.
Penske Entertainment acquired the Grand Prix Association of Long Beach on Thursday, buying it from Gerald R. Forsythe, and will be in charge of running the race weekend.
It won’t be a typical race weekend either.
It will be the 50th running of the Grand Prix of Long Beach, a milestone event in auto racing and in Long Beach.
The three-day race weekend regularly draws crowds of 200,000 to its 1.968-mile course that surrounds the Long Beach Convention & Entertainment Center. It is the most prestigious and longest-running street course race in North America.
“We are incredibly proud to be the new stewards of this cherished and iconic event,” Penske said in a statement released Thursday.
Penske is no stranger to motorsports in Southern California. He owned the Ontario Motor Speedway in the 1970s. He was instrumental in constructing and developing California Speedway in Fontana at the site of the Kaiser steel mill in 1994.
California Speedway eventually became Auto Club Speedway and hosted IndyCar Series and NASCAR races before it closed in February 2023.
With Penske acquiring the Grand Prix of Long Beach, it ensures the IndyCar Series will be a fixture in Long Beach for a few more years.
“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 in April as well,” Penske said.
Penske is no stranger to success in auto racing either. His teams have won 17 IndyCar Series championships and five NASCAR championships.
He owns a three-car team in the IndyCar Series with Josef Newgarden, Will Power and Scott McLaughlin as drivers.
Penske also owns Indianapolis Motor Speedway, site of the Indianapolis 500 and NASCAR’s Brickyard 400.
Miles said the Indy 500 and Grand Prix of Long Beach are historic races and will continue to be treated as such under Penske.
“The event’s in great shape,” Miles said. “They are iconic events on the IndyCar calendar. We couldn’t be more pleased.”
The Grand Prix Association has an agreement with Long Beach to host a three-day racing event every year until 2028. The Grand Prix of Long Beach has included IMSA, GT America, Formula Drift and Stadium Super Trucks races in recent years.
Jim Michaelian, the president and CEO of the Grand Prix Association of Long Beach, called it a momentous day.
“We’re excited about this development,” Michaelian said. “It’s a promising aspect of where our future is headed.”
Forsythe and Kevin Kalkhoven bought the Grand Prix Association of Long Beach for a reported $15 million in 2005. Terms of the deal between Penske Entertainment and Forsythe were not disclosed.
When Kalkhoven died in 2022, Forsythe bought his share of the association and said at the time he wanted to keep the Grand Prix of Long Beach a signature IndyCar Series event.
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There has been talk of adding a NASCAR event to accompany the IndyCar Series race in Long Beach, but Michaelian said it is unlikely to happen. It will remain an IndyCar Series race for the foreseeable future.
“That is the direction we’ve been looking at,” he said. “That solidifies it for sure.”
Mark Miles, the president of Penske Entertainment, was asked during a news conference Thursday what the plans are for the future of the race. He said there is a growth agenda that includes welcoming Fox Sports to the IndyCar Series as a broadcast partner, adding events and possibly expanding the 17-race IndyCar Series schedule, developing a new car for the series and celebrating the 50th anniversary of the Grand Prix of Long Beach.
“It’s an important foundation for future growth of the series,” Miles said. “Our role right now, appreciate Jim’s planning for the 50th anniversary, which is huge. What a great opportunity. It’s kind of like celebrating the 100th running of the Indy 500. That was a big deal for us and a chance to propel to a whole other level that I know you’ll follow the same approach to the Grand Prix.”