In a remarkable transaction, the Grand Prix of Long Beach has changed hands with the announcement that Penske Entertainment is taking the helm. This takeover comes just in time for the 50th edition of the race, scheduled for next year. The Grand Prix has long been considered North America’s premier urban circuit race and has been a fixture on the motorsports calendar since 1975. It attracts huge crowds and offers some of the most exciting racing on the circuit.
According to a KTLA statement, Roger Penske expressed his pride in the acquisition: “We are incredibly proud to be the new stewards of this esteemed and iconic event.” The Long Beach race regularly attracts over 190,000 spectators and spans a vibrant 1,968 mile route that wraps around the Long Beach Convention & Entertainment Center. The event’s enduring appeal is reflected in ever-increasing attendance, with the 2024 race setting a new record with 194,000 participants, CBS News reported.
The purchase of Penske Entertainment includes plans for further investments to improve the experience for fans, sponsors and hospitality guests. The deal continues an expansion of Penske’s motorsports portfolio that includes the purchase of the Indianapolis Motor Speedway and the Indianapolis 500 five years earlier – a move that places Penske firmly at the forefront of North American racing efforts.
The importance of television exposure to the event was highlighted by the announcement of a move to network television. In 2025, the race will be broadcast by FOX on Sunday, April 13, KTLA said, marking a significant step toward expanding reach to an even broader audience. As Chairman of Penske Corporation, Roger Penske emphasizes the importance of the Long Beach Grand Prix to the INDYCAR Series, which they also own, and the commitment to its growth: “This race and its loyal fans are so important to everyone in the IndyCar Series “Community, and we look forward to a very special 50th anniversary celebration this April too,” he told Forbes.
Amid a year filled with significant achievements, including a 20th Indianapolis 500 victory and a NASCAR Cup championship victory by driver Joey Logano, Penske’s latest move underscores the depth of his commitment to racing and his business acumen. Beyond the racetrack, Penske controls a sprawling transportation empire and is a crucial figure in both racing and business. The acquisition of the Grand Prix Association of Long Beach is further evidence of Penske’s determination to remain firmly on the accelerator of the motorsports industry.
