Penske Entertainment Acquires Grand Prix Association of Long Beach, Securing the Future of Iconic IndyCar Race
In a significant move for the world of IndyCar racing, Penske Entertainment has announced the acquisition of the Grand Prix Association of Long Beach, a cherished and historic street circuit event. The transaction sees the iconic Grand Prix of Long Beach, the longest-running street race in Southern California, join Penske Entertainment’s impressive portfolio of motorsports properties, which includes the IndyCar Series, Indianapolis Motor Speedway, and the Detroit Grand Prix.
The 50th edition of the Grand Prix of Long Beach is set to take place next year, and Penske Entertainment has promised a special celebration to mark this remarkable milestone. The event will also return to network television, with FOX broadcasting the race on Sunday, April 13.
“We’re incredibly proud to be the new stewards of this cherished and iconic event,” said Roger Penske, chairman of Penske Entertainment. “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.”
Michaelian, the Grand Prix of Long Beach CEO, expressed his enthusiasm for the new partnership, stating, “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.”
Penske Entertainment has pledged to invest in enhancing the fan experience, sponsor engagement, and hospitality offerings at the event. The company’s involvement in other IndyCar promotions, such as the Iowa Speedway, Milwaukee Mile, and the Grand Prix of Arlington (scheduled for 2026), demonstrates its commitment to bolstering the sport’s presence and growth.
“This is a major race weekend, not just on our calendar but across the motorsport landscape,” said Mark Miles, president and CEO of Penske Entertainment. “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.”
The Grand Prix of Long Beach, a 1.968-mile circuit that wraps around the Long Beach Convention and Entertainment Center, typically attracts over 190,000 spectators across its three-day weekend. Additionally, the Grand Prix Foundation of Long Beach, a charitable organization, has donated more than $4.2 million to the local community.
“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,” said Long Beach Mayor Rex Richardson. “We’re looking forward to a great working relationship that benefits everyone who calls Long Beach home.”
This acquisition by Penske Entertainment solidifies the Grand Prix of Long Beach‘s place as a premier event on the IndyCar calendar, ensuring its continued success and growth for years to come.
🔗 Source