In a notable transaction, the Grand Prix of Long Beach has shifted hands with the announcement that Penske Entertainment is taking the wheel. This acquisition comes just in time for the race’s milestone 50th edition slated for next year. Long hailed as North America’s premier street circuit race, the Grand Prix has been a staple in the motorsports calendar since 1975, drawing enormous crowds and showcasing some of the most thrilling races in the circuit.
According to a statement obtained by
KTLA
, Roger Penske expressed his pride in the acquisition, “We’re incredibly proud to be the new stewards of this cherished, and iconic event.” The Long Beach race consistently attracts over 190,000 spectators, stretching over a vibrant 1.968-mile track that wraps around the Long Beach Convention & Entertainment Center. The event’s enduring appeal is reflected in the constantly escalating attendance numbers, with the 2024 race setting a new record at 194,000 attendees, as reported by
CBS News
.
Penske Entertainment’s purchase includes plans for further investment to improve the experience for fans, sponsors, and hospitality guests. The deal continues an expansion of Penske’s motorsport portfolio, which includes the purchase of the Indianapolis Motor Speedway and the Indianapolis 500 five years prior—a move that firmly places Penske at the forefront of North American racing endeavors.
The importance of television exposure for the event was underscored by the announcement of a move to network television. In 2025 the race will be broadcasted by FOX on Sunday, April 13, said
KTLA
, signifying a significant step in broadening its reach to an even wider audience. As the chairman of Penske Corporation, Roger Penske emphasizes the significance of the Long Beach Grand Prix for the INDYCAR series, which they also own, and the dedication to its growth, “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 this April, as well,” he told
Forbes
.
Amid a year dotted with significant achievements, including a 20th Indianapolis 500 victory and a NASCAR Cup championship win by driver Joey Logano, Penske’s latest move underscores the depth of his involvement in racing and his business acumen. Beyond the track, Penske controls a sprawling transportation empire and stands out as a crucial figure in both the racing and business communities. The acquisition of the Grand Prix Association of Long Beach marks yet another testament to Penske’s determination to keep his foot firmly on the gas pedal of the motorsports industry.
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