Penske Entertainment has purchased the Grand Prix Association of Long Beach, it was announced Thursday.
New Long Beach Grand Prix owner Roger Penske said he is proud to have acquired it, calling it “the most historic and prestigious street circuit race in North America.” The annual three-day spring event turns the streets of downtown Long Beach into a 1.9-mile, 11-turn racetrack.
Five years ago, Penske purchased the Indianapolis Motor Speedway and the Indianapolis 500, the largest single-day paid sporting event in the world – and now another notable purchase in Long Beach, the largest street race in North America.
In the announcement, Penske Entertainment said the group, along with the Acura Grand Prix of Long Beach team, plans to invest in “enhancing and improving the experience for racing fans, sponsors and hospitality customers.”
The very first Long Beach Grand Prix was held in 1975 and the 50th Acura Grand Prix of Long Beach will be held on April 13, 2025.
“We are incredibly proud to be the new stewards of this beloved and iconic event,” said Roger Penske, Chairman of Penske Corporation. “This race and its loyal fans are so important to everyone in the IndyCar community, and we also look forward to a very special 50th anniversary celebration in April.”
The Long Beach Grand Prix underwent a major change in 2018 after ending its 44-year partnership with Toyota as title sponsor. In 2019, the association entered into a multi-year agreement with Acura to step in as title sponsor.
Attendance for the 2024 race in downtown Long Beach drew 194,000, setting a new record for the event.
