Penske Acquires Grand Prix Association of LB

Penske Entertainment yesterday announced the newest member of its growing event portfolio, confirming 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.

The purchase is expected to provide significant investment for the marquee NTT INDYCAR SERIES race, to further enhance this can’t-miss celebration of speed and Southern California motorsport culture for years to come.

As an acclaimed and highly attended annual event located in the nation’s entertainment capital, the Acura Grand Prix of Long Beach is a premier race weekend for the NTT INDYCAR SERIES. Working alongside the Acura Grand Prix of Long Beach team, Penske Entertainment plans to invest in bolstering and enhancing the experience for race fans, sponsors and hospitality customers.

The three-day weekend regularly attracts crowds of over 190,000 people to its 1.968-mile racecourse surrounding the Long Beach Convention & Entertainment Center. The 2024 edition featured a supercharged atmosphere, which included the largest attendance in the modern INDYCAR era.

The event brings global attention and positive economic impact to its home city, while also maintaining a charitable organization – the Grand Prix Foundation of Long Beach – which has donated more than $4.2 million to those in need within the Long Beach community.

Yesterday’s news marks the continuation of an ambitious and productive period for Penske Entertainment, which owns and manages INDYCAR and the NTT INDYCAR SERIES. In September, the organization announced the establishment of the first charter system in INDYCAR’s history, providing NTT INDYCAR SERIES owners meaningful and enhanced value across their entries. In October, Penske Entertainment unveiled the INDYCAR Grand Prix of Arlington, powered through a first-of-its-kind joint venture with the Dallas Cowboys and Texas Rangers.