Roger Penske's acquisition of the Grand Prix of Long Beach highlights his commitment to enhancing the IndyCar series, emphasizing the importance of diverse racing formats to improve the sport.
'It's an iconic race,' he said. 'When you think about markets and where we want to be sure that we have IndyCar long term, this is a place we want to invest in for sure.'
The three-day event, which will celebrate its 50th anniversary in April, draws nearly 200,000 people to the streets of Long Beach, contributing an estimated $63 million to the region's economy annually.
'I'm a business guy and I think the diversity makes a huge difference,' Penske said. 'We've been looking at, from a management perspective, to try to make our series better.'
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