What Does the Penske Corp. Mean to IMS?

What Does the Penske Corp. Mean to IMS?

Blog > The Ride with JMV > What Does the Penske Corp. Mean to IMS?

What Does the Penske Corp. Mean to IMS?

Robin Miller joins JMV to take a deeper look into the Hulman family selling IMS to Penske Corp.

Courtesy of Chris Graythen| Getty Images

On bigger purse at IMS… 

“Roger Penske has been in the game as puts his money where his mouth is and I don’t think we could have had a better result than what we had today. The Hulman George family stopped putting money into the Speedway ten years ago so the purse has been stagnant and the IndyCar purses themselves are a joke. If you win a race that is not the Indy 500, you get about 35,000 dollars so I am hoping with Roger Penske’s expertise and with all the people he has met along the way, he will find a marketing genius that is going to sell a title sponsorship to the Indy 500 that will put 10 or 5 million into the purse.”


On Penske family… 

“Everyone says the right thing during times like this where everyone will stay in the same place or things like that.  I think Greg Penske, his son, will be a major player in this whole deal as far as the day to day activities and what goes on because Greg is a clone of his father.  He is a sharp business guy with attention to detail and I don’t Roger is going to come in and just clean house but he will look around and ask a lot of questions. The key is the people he will hire that will stay forever.”


On what to look forward to… 

“Look at what he runs.  He runs a Ford in NASCAR, he runs a Honda in IMSA, and Chevy in IndyCar racing.  You think he has pretty good connections? Ford had said they didn’t want to get back into IndyCar racing but Roger can be pretty persuasive when he has to be. Don’t expect this to be over night - we might not see a real chance for a year or so but give the guy a chance and give him time to put his people in place.  He is the smartest guy I have ever met. Period.”


For more on the IndyCar, tune into the Ride with JMV weekday's 3-6 p.m. 

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