Penske Entertainment Corporation, the parent company of the Indianapolis Motor Speedway and NTT INDYCAR SERIES, announced on Thursday morning that it had acquired the Grand Prix Association of Long Beach LLC, the operator of the Acura Grand Prix of Long Beach from long-time owner Gerald R. Forsythe.
The new acquisition will see Penske Entertainment Corporation invest heavily in the NTT INDYCAR SERIES marquee street race which celebrates its 50th year in 2025.
Speaking about the news, Roger Penske said:
“We’re incredibly proud to be the new stewards of this cherished and iconic even. “This is the most historic and prestigious street circuit race in North America, and we’re excited to work with Jim Michaelian and his great team in Long Beach to ensure continued success and growth over the long term. 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.”
President and CEO of the Acura Grand Prix of Long Beach Jim Michaelian commented saying:
“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,. “Roger and the team at Penske Entertainment understand the special history and unique qualities that give us such a strong foundation and will be ideal partners as we continue to deliver an exceptional race weekend for our fans moving forward. I also want to acknowledge the significant contribution that the previous owners, Jerry Forsythe and the late Kevin Kalkhoven, made to the success of our event over the past 19 years.”
As an acclaimed and highly attended annual event located in the nation’s entertainment capital, the Acura Grand Prix of Long Beach is a premier race weekend for the NTT INDYCAR SERIES. Working alongside the Acura Grand Prix of Long Beach team, Penske Entertainment plans to invest in bolstering and enhancing the experience for race fans, sponsors and hospitality customers.
The Acura Grand Prix of Long Beach is the biggest NTT INDYCAR SERIES race outside of the Indianapolis 500. Speaking about the news, President and CEO of Penske Entertainment Corporation, Mark Miles said:
“This is a major race weekend, not just on our calendar but across the motorsport landscape. “We’re committed to preserving the core attributes that make it best in class while also working on some exciting and bold initiatives to make its future even bigger and brighter.”
Long Beach City Mayor Rex Richardson commented saying:
“The Grand Prix is an incredibly vital and vibrant asset for our community and an annual event that drives commerce, attracts tourism and elevates cultural connectivity across our city. “Penske Entertainment will be a committed and energetic partner for the future that seeks to preserve and enhance this event’s rich history and strong legacy. We’re looking forward to a great working relationship that benefits everyone who calls Long Beach home.”
(Video courtesy of the NTT INDYCAR SERIES via youtube.com)