By Peter M. DeLorenzo
Detroit. The news that Roger Penske is acquiring the Indianapolis Motor Speedway, IndyCar and certain other subsidiaries of Hulman & Company through his Penske Entertainment Corp. came over the airwaves this morning (Monday, November 4th), and it is the biggest news of this or any other racing year as far as I'm concerned. Penske is the winningest car owner in the history of The Speedway, with an incredible eighteen victories in the Indianapolis 500 - the world's most prestigious motor racing event - and it marks a fundamental change for the sport that's frankly long overdue.
Roger has been in love with the Indianapolis Motor Speedway since his father first took him to the "500" in 1951. He talks about that experience often, and it's clear that The Speedway and the "500" have had a hold on his heart ever since. I remember years ago saying that it would be wonderful for the sport if Roger purchased the Indianapolis Motor Speedway from the Hulman family, and now it has finally happened. Why did I think that then, and still do today? I believe that the very survival of the greatest motor racing facility in the world - and the sport of Indy racing itself - is dependent on a leader with vision, a history of success and the capacity for attention to detail that frankly only Roger Penske possesses.
I'm sure I don't need to go into all of Roger's accomplishments for our readers out there, but make no mistake, he started out as a tremendously talented racing driver who transitioned into the automobile business and has accumulated a track record that is simply unequaled. His love for and dedication to the sport of motor racing is unassailable and awe-inspiring. His countless racing championships speak to his relentless drive and his classic Penske Racing mantra of "Effort Equals Results."
And now the Indianapolis Motor Speedway will benefit from the most detail-oriented billionaire in the world. There's a classic anecdote about Roger concerning the first race after he purchased the Michigan International Speedway back in the late 60s. In true Roger fashion, he stationed himself at the main admissions gate very early on Friday morning to make sure everything was going smoothly. After about 20 minutes of watching cars and trucks making their way through the gates, Roger noticed that many of the cars seemed to have rear suspensions that appeared to be in bad shape. He thought to himself that something wasn't right, so he went up to his employees at the gate and ordered them to ask the occupants of the next car that looked to have a rear suspension dragging to open their trunk. Sure enough, a couple of people exited out of the trunk and from then on Roger's employees at the gates knew what to watch for.
As far as I'm concerned the Indianapolis Motor Speedway needs Roger Penske desperately. I expect him to assemble a team that will turn The Speedway into a well-oiled machine, one bristling with improvements everywhere you look. That's just the "Penske Way" and his reputation for exhaustively sweating the details will serve The Speedway and racing enthusiasts who attend events there well.
As for IndyCar, the series exists because of people like Roger, Chip Ganassi, Michael Andretti, et al. who care about the sport and who collectively will the sport to survive and thrive. As I've said repeatedly in this column, these owners work tirelessly to fund their racing operations and support the livelihoods of hundreds of people. That the sport is on an upswing, even though incremental, is a testament to their efforts. But the sport needs more. Much more. And I expect Roger Penske, who is able to marshal tremendous resources, to be just what the sport of Indy car racing needs to get to the next level. Expect a third engine manufacturer to be added soon, and I wouldn't be surprised that because of Roger's leadership a fourth will come to the fore as well.
The news that Roger Penske has bought the Indianapolis Motor Speedway and the IndyCar Series is the most positive development in racing in many, many years. Roger will be the perfect fit to lead these entities forward with his dedication, vision, attention to detail and pure love for the sport.
And that's the High-Octane Truth for this week.
(Getty Images)
Elkhart Lake, Wisconsin, September 1, 1968. Roger Penske and Mark Donohue stand by their No. 6 Penske Racing Enterprises Sunoco Special McLaren M6B Chevrolet before the start of the Can-Am at Road America. Mark finished third behind Denny Hulme (No. 5 McLaren Cars/Gulf McLaren M8A Chevrolet) and Bruce McLaren (No. 4 McLaren Cars/Gulf McLaren M8A Chevrolet).