Penske, who turned 82 in February, received the Presidential Medal of Freedom from President Donald Trump last month. The family has now turned its racing properties over to Penske in an announcement made one day after the one-year anniversary of Hulman George's death. Clabber Girl produced name brand baking powder, baking soda and corn starch for 150 years. The Hulman & Company family sold its other primary business, Clabber Girl, to B&G Foods for $80 million in May. But matriarch Mari Hulman George, daughter of Tony Hulman, died last November and her children and the board have made a series of moves divesting their businesses. ![]() George, the grandson of Tony Hulman, has long run the speedway and its properties along with his sisters and a board of directors. "I think this helps secure the future of the sport and continues the positive direction that the series is headed in." "Roger's love of Indy and racing is no secret, so I can't think of anyone better to have purchased it," said Power. The purchase was applauded by Team Penske driver Will Power, the 2018 Indy 500 winner and former Ind圜ar champion, who understands all Penske drivers strive to please the boss at Indianapolis Motor Speedway. He later owned California Speedway, as well, and currently runs the Detroit Grand Prix doubleheader Ind圜ar weekend. Penske has mixed track ownership and team ownership before, and the Detroit resident first purchased Michigan International Speedway in 1973. The split fractured open-wheel racing in North America and it has never recovered even after CART conceded and merged into what is now known as Ind圜ar. Penske teams remained in CART, and CART teams were not welcome at the 500.ĬART was once the most popular form of motorsports in the U.S., but NASCAR swallowed open-wheel racing during the tumultuous times after Tony George created the Indy Racing League. Penske was instantly hooked and has missed only six Indianapolis 500s since, five of which came when the Ind圜ar Series was formed by Tony George and split from CART. ![]() He brought his 14-year-old car-loving son to the speedway to see the event live after listening to it only on radio for many years. Penske's love of the speedway dates to 1951 when his father, Jay, scored a pair of tickets to the Indianapolis 500 from the metal fabrication company in Cleveland where he worked. "His many successful business ventures underline the fact that he is the perfect custodian of one of the most historic venues in the world and is the perfect architect to build the foundation for the next 100-plus years of the sport." "Roger Penske's commitment to the sport we love is over six decades long and I am confident that his stewardship of the Indianapolis Motor Speedway and the Ind圜ar Series will ensure a great future for the sport," Rahal said. And Bobby Rahal called him the "perfect custodian" for the speedway.
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