Roger Penske on Thursday added the most prestigious street race in North America to his portfolio with the purchase of the Grand Prix of Long Beach. He bought the race from Gerry Forsythe, who owned half the event with the late Kevin Kalkhoven. Forsythe ...

Roger Penske, the legendary driver, team owner and now race-track executive, has bought the Long Beach Grand Prix, adding the race to a stable of open-wheel events that already includes the Indy 500.

Roger Penske and Penske Entertainment made big news Thursday morning, that it is the new owner of the Long Beach Grand Prix. This comes five years after another surprise announcement, that Penske had purchased the Indianapolis Motor Speedway,

Penske Entertainment announced Thursday that it has acquired the Grand Prix Association of Long Beach from Gerald Forsythe. The purchase

Penske Entertainment has acquired the Grand Prix of Long Beach from Gerald R. Forsythe, the organization announced Thursday.

Penske said it expected “to provide significant investment” in the experience for Long Beach fans, sponsors and hospitality customers, but it did not provide details or an amount it intended to spend on the race.