Penske Entertainment Group has acquired the Long Beach Grand Prix.
The deal adds the popular Southern California street race that Chris Pook and Dan Gurney started in 1975 to a company that also owns and operates the NTT IndyCar Series, the Indianapolis Motor Speedway and the Detroit Grand Prix. Penske Entertainment is also directly promotes the IndyCar Series race at NASCAR owned Iowa Speedway, the Milwaukee Mile and the 2026 race on the Streets of Arlington, Texas.
This began earlier in the year after several inquiries were made, including by NASCAR, to acquire the promotional rights to the longstanding event. That ended with longtime IndyCar team owner Gerry Forsythe purchasing the half of the event on sale by the estate of his late friend Kevin Kalkhoven, making him the sole owner.
Now Penske has purchased it from Forsythe, keeping the second largest event behind the Indianapolis 500 on the schedule long-term. The event will celebrate its 50th birthday next year.
“As we prepare to celebrate a truly remarkable milestone, the 50th anniversary of this amazing event, it’s fitting that we have such exciting and important news to share about its future,” said Acura Grand Prix of Long Beach CEO Jim Michaelian.
“Roger and the team at Penske Entertainment understand the special history and unique qualities that give us such a strong foundation and will be ideal partners as we continue to deliver an exceptional race weekend for our fans moving forward. I also want to acknowledge the significant contribution that the previous owners, Gerry Forsythe and the late Kevin Kalkhoven, made to the success of our event over the past 19 years.”
Michaelian will remain on the staff as the event enters into its Penske era.
“We’re incredibly proud to be the new stewards of this cherished and iconic event,” Penske said. “This is the most historic and prestigious street circuit race in North America, and we’re excited to work with Jim Michaelian and his great team in Long Beach to ensure continued success and growth over the long term. This race and its loyal fans matter so much to everyone across the IndyCar community, and we’re looking forward to a very special 50th anniversary celebration this April, as well.”