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, the billionaire owner of a vast transportation empire, has purchased the Grand Prix of Long Beach. The 87-year-old former race car driver purchased the famed competition, which will celebrate its 50 th anniversary in 2025.

The auto racing icon once owned Ontario Motor Speedway and was instrumental in developing California Speedway in Fontana.