Honestly, walking into the Indianapolis Motor Speedway (IMS) feels less like entering a stadium and more like stepping into a secular cathedral. It's huge. I’m talking 250,000 permanent seats—the kind of scale that makes other "big" venues look like high school gymnasiums. But for decades, it was a family-run shop. If you’ve followed racing for a while, you know the Hulman-George name was basically synonymous with the Yard of Bricks.
Then came 2019. The world shifted.
When people ask who owns Indianapolis Speedway today, the answer is a single name that carries massive weight in the automotive world: Roger Penske. Specifically, the track is owned by Penske Entertainment Corp., which is a subsidiary of the much larger Penske Corporation.
It wasn't just a business deal; it was a "pass the torch" moment that stunned the racing community. Tony George, representing the Hulman family, basically said they’d taken the track as far as they could. They needed a billionaire with a racing obsession to take over. Enter "The Captain."
The Day the Deal Changed Everything
It happened in November 2019. I remember the news breaking and the collective "whoa" from everyone in Indiana. The Hulman-George family had owned the place since 1945. That’s 74 years of one family’s DNA baked into the concrete.
Tony Hulman originally bought the track for $750,000 back when it was a literal weed-choked mess after World War II. Fast forward to the Penske sale, and while the exact price was kept under wraps, experts generally estimate the deal—which included the speedway, the IndyCar Series, and IMS Productions—was worth somewhere between **$250 million and $300 million**.
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Penske didn’t just buy a track; he bought an entire ecosystem.
Roger Penske is only the fourth owner in the history of the track since it opened in 1909. Think about that. Over a century of history, and only four names on the deed:
- Carl Fisher (the visionary who built it)
- Eddie Rickenbacker (the WWI flying ace)
- The Hulman-George Family (the long-term stewards)
- Roger Penske (the current mogul)
Why Penske?
You might wonder why the Hulmans didn’t just sell to some private equity group or a massive media conglomerate. The family was incredibly picky. They didn't want the track turned into a housing development or a shopping mall—they wanted a "steward."
Penske was the only logical choice. He's the winningest team owner in Indy 500 history. The guy lives and breathes the 2.5-mile oval. In fact, he’s been obsessed with the place since his dad took him to his first race in 1951.
Since taking over in early 2020, Penske hasn't just sat on his hands. He’s poured millions into the "Racing Capital of the World." If you’ve visited lately, you’ve seen the upgrades: massive LED video boards, a paved "Pagoda Plaza," and literal tons of fresh paint. He treats the track like his personal showroom. Everything has to be perfect.
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The Fox Sports Curveball in 2025
Here’s where things get even more interesting for the current era. While Penske Entertainment Corp. is the primary owner, the landscape shifted slightly in 2025.
In a massive move that shook up the sports media world, Fox Sports acquired a one-third stake in Penske Entertainment.
Why does this matter? Because it ties the ownership of the track and the IndyCar series directly to a major broadcast partner. It’s a strategic play to boost the "reach" of the Indy 500 and the series. While Roger Penske still holds the steering wheel as the majority owner, having Fox in the passenger seat with a 33% stake means there’s more money and media muscle behind the venue than ever before.
What Most People Get Wrong
A common misconception is that the city of Indianapolis or the state of Indiana owns the track. Nope. It’s entirely private.
Another weird one? People think "Team Penske" and "Penske Entertainment" are the same thing. They aren't. To avoid a massive conflict of interest—since he owns the series his cars race in—Roger Penske actually stepped down from being the strategist on his own team's pit box. He had to separate the "owner of the sandbox" from the "kid playing in the sandbox."
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Ownership at a Glance
If you need the quick "who’s who" of the current structure, it looks like this:
- Parent Company: Penske Corporation (Roger Penske, Chairman)
- Operating Entity: Penske Entertainment Corp.
- Key Partners: Fox Sports (33% minority stake as of 2025)
- Leadership: Mark Miles (CEO of Penske Entertainment) and Doug Boles (President of IMS)
The Actionable Reality for Fans
So, what does this ownership mean for you if you’re planning a trip to the 110th Running of the Indy 500 in 2026?
First, expect the "Penske Standard." The facility is cleaner and more modern than it has ever been. Second, the Fox Sports partnership means the 2026 season is going to have a significantly different "vibe" on TV, with more promotion and likely more "big event" energy around the Brickyard 400 and the 500.
If you are a fan or an investor looking at the health of the sport, the stability of Penske’s ownership is generally seen as a huge win. The track survived the COVID-19 pandemic (which hit literally months after he bought it) because Penske had the deep pockets to keep it afloat when there were zero fans in the stands.
Your Next Steps
If you’re heading to the track or just following the business of racing, here is how you can stay updated on the ever-evolving ownership and facility news:
- Check the IMS Official "News" Portal: They are surprisingly transparent about facility upgrades and corporate partnerships.
- Monitor Penske Automotive Group (PAG) Reports: While IMS is under the private Penske Corp, the public filings of PAG often reflect the broader health of the Penske empire.
- Follow the 2026 Schedule Releases: The way Penske schedules events like NASCAR’s return to the oval tells you a lot about his current business priorities for the speedway.
The "Racing Capital of the World" is in a period of massive transition, moving from a family-run legacy to a global corporate powerhouse. But for most of us, as long as the engines roar in May, the name on the deed is just part of the story.