Penske Entertainment confirmed the acquisition of the Grand Prix Association of Long Beach, LLC, from longtime owner Gerald R. Forsythe. The association administers the Acura Grand Prix of Long Beach, the longest-running major street circuit race in North America.

Roger Penske added the most prestigious street race in North America to his portfolio with the purchase of the Grand Prix of Long Beach.

Roger Penske, the legendary driver, team owner and now race-track executive, has bought the Long Beach Grand Prix, adding the race to a stable of open-wheel events that already includes the Indy 500.