These accomplishments, this reputation and an obsessive attention to detail will be the backbone of Roger Penske's newest, and perhaps boldest, venture yet as the newest owner of Indianapolis Motor Speedway, the IndyCar Series and IMS Productions. The Detroit Grand Prix is organized and promoted by a subsidiary of the Downtown Detroit Partnership, according to its website.
There will be more "Baby Borgs" lined up on Penske's desk in the future.
"It's obviously emotionally hard", said Tony George, grandson of company founder and family patriarch Tony Hulman.
The sale of the racings assets comes as part of an ongoing transaction for the Hulman clan with their family assets. He said the family approached Penske after the last race of the season as to not distract from the season.
Penske, meanwhile, received strong support from rival race team owners.
Penske is the winningest team owner in Indianapolis 500 history with 18 victories, including Simon Pagenaud's win in May. "We're going to invest capital. They have to understand the impact", said Penske.
But he considers himself "the new guy" in terms of operating and maintaining the Indianapolis Motor Speedway, the Indy 500 and INDYCAR.
"I know what my job is, and hopefully I've got enough credibility with everyone that we can be sure that there is not a conflict - and I'll do my very best to be sure there isn't".
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Roger Penske is legendary on the race circuit.
A copy of an IndyCar memo sent to all team, and obtained by the Associated Press, stated that Penske, "with its 64,000-plus employees and more than $32 billion in consolidated revenue" is set to succeed after the sale. "To me, I know what my job is", Penske said. "His many successful business ventures underline the fact that he is the ideal custodian of one of the most historic venues in the world and is the flawless architect to build the foundation for the next 100-plus years of the sport".
"I didn't think he'd be looking at a major deal like this so late in life, but I think it's great news for IndyCar racing in general".
George, the grandson of Tony Hulman, has long run the speedway and its properties along with his sisters and a board of directors.
"The acquisition by the Penske organisation will carry the future of the legendary Speedway and the IndyCar series forward for the next generation of racing fans". Since then, the family businesses have slowly been divested, and the company in May sold its other primary business, the baking company Clabber Girl, to B&G Foods for $80 million.
"We have a parent now that appreciates the history of the past, knows our business inside and out and gets things done", INDYCAR CEO Mark Miles said.
The speedway has been under the control of the Hulman family since Tony Hulman bought it back in 1945 and brought the Indy 500 back the following year following a four-year hiatus that resulted due to World War II.