Penske buys track, series

Motorsport: United States billionaire Roger Penske has bought the Indianapolis Motor Speedway (IMS) and IndyCar Series from Hulman & Company and plans to invest new money into the famed track.

He may even look into bringing Formula One racing back to the venue.

The deal makes the former professional driver the fourth owner of the sprawling 110yearold speedway, where the crown jewel of American openwheel racing, the Indianapolis 500, is held each Memorial Day weekend.

I’ve got a big commitment here to take over certainly as the steward of this great organisation and what’s been done here in the past for so many decades,’’ Penske (82) told media.

Terms of the deal were not disclosed. Penske’s racing interests include IndyCar and Nascar teams, said.