Entertainment

Penske Entertainment's acquisition of the Grand Prix Association of Long Beach marks a significant development for the future of the IndyCar series. The organization that manages the Acura Grand Prix of Long Beach has long been a cornerstone of American motorsport, hosting the longest-running major street circuit race in North America. As the event approaches its 50th anniversary, Penske's involvement promises substantial investment and improvements to elevate the overall experience for fans and participants alike.

Elevating the Iconic Long Beach Grand Prix to New Heights

Strengthening the IndyCar Brand in Southern California

The acquisition of the Long Beach Grand Prix is seen as a strategic move by Penske Entertainment to further integrate the NTT INDYCAR SERIES into the vibrant motorsport culture of Southern California. This region, known for its passionate fan base and love for all things automotive, stands to benefit significantly from the planned improvements and increased exposure. The investment is expected to enhance the overall event experience, not only in terms of the race itself but also in its role as a leading attraction in the racing calendar.

Celebrating 50 Years of Rich History

The 2024 Grand Prix, marking half a century of the event's rich history, is poised for an exceptional celebration. Scheduled for April 13, the race will include special programming and a return to network television, with FOX broadcasting the event live. This substantial media partnership is set to increase viewership while also improving the visibility of both the race and the broader IndyCar brand.

Elevating the Fan Experience and Community Engagement

The Grand Prix of Long Beach is not only a key date in the IndyCar calendar; it's a major economic and cultural event in North America, regularly drawing over 190,000 attendees. Penske Entertainment's acquisition aims to further enhance the fan experience, leveraging its expertise and resources to create an even more engaging and memorable event.Moreover, the Grand Prix Foundation of Long Beach has, over the years, contributed more than .2 million to community charities, demonstrating the event's deep-rooted commitment to the local community. Penske's involvement is expected to build upon this legacy, fostering even stronger community engagement and support.

Stabilizing the IndyCar Series through Innovative Initiatives

This acquisition arrives at a time when Penske Entertainment is actively working to redefine its racing series. The company recently introduced IndyCar's first charter system, aimed at stabilizing its teams while improving the field. By broadcasting all NTT INDYCAR SERIES races, Penske Entertainment aims to engage a broader audience, leveraging network television exposure to boost fan engagement and the overall popularity of the sport.

Securing the Long-Term Future of the Iconic Event

"We're incredibly proud to be the new stewards of this cherished and iconic event," Roger Penske shared via a press release sent to Newsweek. This sentiment is echoed by Jim Michaelian, President & CEO of the Acura Grand Prix of Long Beach, who expressed enthusiasm about the future of the event under Penske's leadership."As we prepare to celebrate a truly remarkable milestone, the 50th anniversary of this amazing event, it's fitting that we have such exciting and important news to share about its future."The acquisition of the Grand Prix of Long Beach by Penske Entertainment represents a significant step forward for the IndyCar series, promising a future filled with increased investment, enhanced fan experiences, and a strengthened presence in the vibrant motorsport landscape of Southern California. With Penske's expertise and commitment to the sport, the iconic event is poised to reach new heights, solidifying its status as a must-see attraction for racing enthusiasts and casual fans alike.