Hulman and Company today announced that they have been sold to Penske Entertainment a subsidiary of the Penske Corporation.

The assets that have been sold include the Indianapolis Motor Speedway, the NTT IndyCar Series and IMS Productions.

Speaking following the news, Penske founder Roger Penske said:

My passion for racing began at the Indianapolis Motor Speedway in 1951 when I attended the Indianapolis 500 with my father. “We have so much respect and appreciation for the history and tradition of the Speedway and the sport of IndyCar racing. I want to thank Hulman & Company for the opportunity to build on this legacy and it will be an honor for Penske Corporation to help lead these great institutions forward into a new era.”

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