Penske buys IMS

Discussion in 'Open Wheel Racing' started by Snappy D, Nov 4, 2019.

  1. Snappy D

    Snappy D 2017 Pick Em Champion 2018 Bold Predictor

    Roger Penske just bought the whole damn thing
     
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  2. FLRacingFan

    FLRacingFan Team Owner

    I thought something interesting was up when they sold Clabber Girl this year but holy sh!t...
     
  3. Kiante

    Kiante Team Owner

    Penske owns Indy literally and figuratively now... Just insane that Penske Entertainment bought Hulman and Company, amazing stuff.
     
    FLRacingFan likes this.
  4. Snappy D

    Snappy D 2017 Pick Em Champion 2018 Bold Predictor

    I feel totally comfortable with Roger owning it. I however think we will now have guaranteed entries into the Indy 500, which I’m fine with. All the other little traditions the Indy 500 had have died or changed so I’m fine with it. I think Indy Car’s future is brighter than it was yesterday at this time
     
  5. FLRacingFan

    FLRacingFan Team Owner

    You’re probably right about that. It would be a small price to pay for having someone versed in 21st century business, INDYCAR has long lagged behind in marketing and promotion and general business strategy. Detroit is one of the best-managed events on the calendar so it’ll be good to have a group that understands needs of promoters and how to help them finally. Too many events flopped after two or three years because the series would just sign a contract and let the promoter do all the heavy lifting on their own.
     
    rd45usa likes this.
  6. Kiante

    Kiante Team Owner

    I was about to say Roger literally revived Belle Isle on his own dime, I think from a sponsorship and marketing standpoint this is a major win for IMS. Especially, with Jay (this is Jay's company) is a damn fine marketing expert as well.

    I hope this works out long-term, it stays within the racing culture run by some great people.
     
    FLRacingFan likes this.
  7. gnomesayin

    gnomesayin Team Owner

    This is huge news and should have its own thread.

    Generally I'm not a fan of the concept of racing series being owned by a participant. There are certainly worse sales that could have happened, and I agree the Speedway and series are in "strong hands".

    However, Penske is in favor of guaranteed spots at Indy, and many of his recent comments about business matters have been about slashing costs because the fans don't know the difference. They will probably run a tighter ship, but I'm not sure I will like all of the implications. Remains to be seen of course.
     
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  8. StandOnIt

    StandOnIt Farm Truck

    that sounds like good news :D
     
  9. Doc Austin

    Doc Austin Team Extreme Flight

    If it had to be sold it landed in the right hands.
     
  10. FLRacingFan

    FLRacingFan Team Owner

  11. FLRacingFan

    FLRacingFan Team Owner

  12. TexasRaceLady

    TexasRaceLady Plank Owner Contributor

  13. gnomesayin

    gnomesayin Team Owner

  14. FLRacingFan

    FLRacingFan Team Owner

    The new Canadian TV deal is pretty crappy, hopefully that can be rectified a year or two down the road.

     
    Kiante likes this.
  15. Snappy D

    Snappy D 2017 Pick Em Champion 2018 Bold Predictor

    I am so excited at the possibilities of what Roger will do for Indy Car.. consistent races on consistent race dates, return to Pocono, maybe more international races (please come back Surfer’s Paradise), guaranteed Indy 500 spots to full time teams, limitless marketing opportunities for drivers/teams, responsible spending to entice new teams to enter Indy Car
     
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  16. gnomesayin

    gnomesayin Team Owner

    Was this addressed? I'm more agnostic on the subject than most, but I tend to think people are hoping in vain on this one and that it won't be back anytime soon, if ever.
     
  17. KodiakRusty89

    KodiakRusty89 Team Owner

    The thought of an IndyCar/Nascar doubleheader has been on my wish list for years. Michigan and/or Pocono would be slam dunks imo.
     
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  18. StandOnIt

    StandOnIt Farm Truck

    I'd like to see a doubleheader street course somewhere, the Pinty's series has a heck of a street race.
     
  19. AuzGrams

    AuzGrams Team Owner

    Yeah Trois-Rieveres (sp) is a great track.
     
    LewTheShoe likes this.
  20. AuzGrams

    AuzGrams Team Owner

    I'd like to see Pocono and a few other fans on here have. It's like the Talladega to IndyCars Daytona in comparison to IMS? :idunno:
     
    FLRacingFan likes this.
  21. gnomesayin

    gnomesayin Team Owner

    I know, I get it. I miss how big of a deal all of the 500-milers were when I was a kid, and how it was a series within a series. I sometimes watch the '80s Michigan and Pocono races on YouTube.

    Unfortunately, there is no widespread commercial enthusiasm for any of them outside of Indy itself. The street races, ho-hum as they can be, are better business propositions in every way.

    :/
     
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  22. StandOnIt

    StandOnIt Farm Truck

    yeah it sure is. If Penske wants a Nascar/Indy race at Detroit I all for it
     
  23. FLRacingFan

    FLRacingFan Team Owner

    Not explicitly but reading between the lines I believe Roger would like another oval or two (possibly including the ROVAL) to build a more equitable schedule. Pocono is in an important sponsorship region and although it wasn’t widely reported some team owners were miffed at no longer having a presence in the NE. That doesn’t all have to necessarily mean Pocono but that among other factors like the track wanting another race weekend with NASCAR doubling up next year could lead to something again at some point.
     
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  24. FLRacingFan

    FLRacingFan Team Owner

  25. Doc Austin

    Doc Austin Team Extreme Flight

    Everyone is on the same page now, which is probably the first time since 1978, if they were on the same page even then.

    In the end, Tony George did what he had to do to protect his interests, brought and kept everyone together, and when it made sense for everyone, he turned it over to a more capable set of hands with much better resources. Tony took metric tons of crap from everyone, often unfairly, but in the end, he turned the reins over when it was best for his company (his most important job), and the sport too.

    On RACER, there are are now several articles on the site, ranging from how it all happened all the way to Penske plans to bring Indycar and IMSA closer together with more double header races and more driver exchange. I mean, hell, Roger ought to buy that too and market the whole thing together. There's is talk of Roger wanting a sportscar race at the speedway again, only this time it will be his marketing people, so you know it would big. Look at job they do with Detroit.

    You also have to believe Indycar teams will want some sportscar action (Ganassi and Penske already being there) and Sportscar teams wanting some Indycar action (with Shank and Dragonspeed already there). A close alliance between Roger and the IMSA group is only going to help everyone. Indycar has been on the rise for awhile, and if IMSA can latch on to that, it's only going to make it better for everyone.

    Mario, AJ and Chip are all giddy about this. It remains to be seen how the rest of the paddock is going to react, but I think they will all be onboard.

    There is the old saying that a rising tide lifts all boats, and right now the tide is rushing in like never before.
     
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  26. AuzGrams

    AuzGrams Team Owner

    I wish/hope they'd add Chiacagoland, Surfers Paradise, and 1 other to the schedule.

    IMO a Roval doubleheader with NASCAR is something I'm not that thrilled with. I'd much rather it be at an oval. Chicagoland or Fontana would what I'd like to see as a fan.
     
  27. Doc Austin

    Doc Austin Team Extreme Flight

    The last Chicago races were ghosttown. Tough nut to crack, but then again, look what Penske has done with Detroit. I think Penske wants more races ce to Detroit, and so would Chevrolet. MIS makes sense here, and it could possibly be a nascar double header.

    It costs so much money to ship the cars and teams to Oz. They now have Aussie F5000 and would be better racing those and building that series. Surfers would huge for F5000, and even for Adelaide. Oz simply has no need you spend the money when they have their own open wheel national series that desperately needs big events. It has the potential to be a great series.

    Easiest thing to do would be a double header at the Glen. You don't have to change the track. Just race.

    Places that have failed so miserably probably won't come back. Think about this: If we can't have successful races at super traditional places like Phoenix and Milwaukee, there's little hope for places that never succeeded to begin with.
     
  28. AuzGrams

    AuzGrams Team Owner

    Those tracks aren't going to fail miserably when you have it linked up to the Cup Series. That's the point I was making of a doubleheader at Chicago or Fontana.
     
  29. Snappy D

    Snappy D 2017 Pick Em Champion 2018 Bold Predictor

    It was a tough nut to crack in Chicago because the start times were a head scratcher. I know I was there. One year the green flag didn’t drop until 830 central time and that was with no weather issues. The racing there was good, I hope they come back. I’d be fine if we got More Midwest races choose two from Michigan Speedway, Chicagoland and hope an a prayer to Milwaukee.
     
  30. FLRacingFan

    FLRacingFan Team Owner

    Surfers has a holdup with the scheduling preferences between IndyCar and Supercars so they are trying to make something work at Eastern Creek (Sydney) is what I saw last week or so. It's a good market to try to reach, Penske has business interests there and found it important enough to start a team there so I wouldn't be surprised if there's a strong push to pull some sort of Supercars doubleheader together.

    Back in 2018 when it was reported IndyCar was trying to land another oval it seemed Chicagoland and Richmond were 1A and 1B as most likely candidates, it's a natural fit in the Midwest area and should be something that could work especially if paired with NASCAR.

    There are several good candidates but it boils down to which make the most business sense because I'm sure any expansion would be very slight. I don't think they'd go to 20 races right away or anything.
     
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  31. FLRacingFan

    FLRacingFan Team Owner

    Phoenix and Watkins Glen both flopped in part because they were effectively track rentals by IndyCar and the tracks didn't really hold much promotional responsibility. It didn't help Phoenix that two of three races were with the huge high-downforce OEM kits, but more importantly I don't think there's any chance a Penske-owned operation will flail in so many key business aspects as marketing and promotion.

    For whatever it's worth Robin Miller has always said IndyCar would like to be on the 4th of July weekend at Watkins Glen with IMSA but it's hard to make work because IMSA bring all of their series that weekend and there's effectively no paddock space or on-track time still available. If they could compromise and agree to run IndyCar the Saturday at the Glen in exchange for the WeatherTech Championship becoming a companion at the IndyCar weekend at Mid-Ohio or something I think that would be beneficial for all.
     
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  32. FLRacingFan

    FLRacingFan Team Owner



    $300M plus promised capital improvements is what the deal is estimated to be. Liberty Media were initially approached by the family and not too keen, followed by another group of investors and an individual who attempted to get in the bidding last week. I’d say they did as well as they possibly could.
     
  33. gnomesayin

    gnomesayin Team Owner

  34. FLRacingFan

    FLRacingFan Team Owner

    Certainly one of the biggest areas with room for improvement within the series.

     
    Charlie Spencer likes this.
  35. FLRacingFan

    FLRacingFan Team Owner

     
  36. Charlie Spencer

    Charlie Spencer Remember the Gator

    Penske Truck Rental IndyCar Series ;)
     
    FLRacingFan likes this.
  37. be9ak7ts16

    be9ak7ts16 Johali Lives

    Hopefully it’s not to late for Roger to straighten that mess out.
     
  38. Kiante

    Kiante Team Owner

    IndyCar is in pretty good shape, its just getting the new engine rules for 2021 finalized and finding another OEM to bring to the sport.

    If this purchased happened in lets say 2012, I'd agree that it is messy purchase.
     
    Charlie Spencer likes this.

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