NZ Truck & Driver News

 
Penske honoured, buys Indy

Penske honoured, buys Indy

NZ Truck & Driver News

 December 2019   
It was a big fortnight for motor racing icon and automotive industry giant Roger Penske – starting in late October, with the billionaire businessman receiving America's top civilian honour, the Presidential Medal of Freedom, from Donald Trump…..

And ending with the announcement that his Penske Corporation is buying the prestigious IndyCar Series and the legendary Indianapolis Motor Speedway – alias The Brickyard…..home of the Indy 500.

Penske, 82, told President Trump that he was "humbled by the president's acknowledgment of our achievements in business, in motorsports and in our community."

Penske received the honour at The White House, accompanied by his wife (of 46 years) Kathy and family.

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It was a big fortnight for motor racing icon and automotive industry giant Roger Penske – starting in late October, with the billionaire businessman receiving America's top civilian honour, the Presidential Medal of Freedom, from Donald Trump…..
And ending with the announcement that his Penske Corporation is buying the prestigious IndyCar Series and the legendary Indianapolis Motor Speedway – alias The Brickyard…..home of the Indy 500.
Penske, 82, told President Trump that he was "humbled by the president's acknowledgment of our achievements in business, in motorsports and in our community."
Penske received the honour at The White House, accompanied by his wife (of 46 years) Kathy and family.
Penske Corporation, which generates $US32billion of revenue annually, includes new car dealerships and leasing operations, wide motor racing interests, truck leasing and rental (and distribution of MAN and Western Star trucks in New Zealand and Australia) and logistics and fleet services businesses. Team Penske has won the Indy 500 a record 18 times.
Penske attributed his success to his wife, family and "our nearly 65,000 team members worldwide: These are the people that I need to thank today, because if they hadn't done their work, I wouldn't be here today. As we all know, people make a team and people make power….." 
"Think about 18 Indianapolis 500s and also the many championships. But guess what? That was the power of the team.
The award, he said, "means more than any business success or motorsports trophy."
Indianapolis Speedway and IndyCar owner Hulman & Company chairman Tony George said the company approached Penske to buy the businesses: "There is no one more capable and qualified than Roger and his organisation to lead the sport of IndyCar racing and the Indianapolis Motor Speedway into the future."  


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