Long Beach Grand Prix acquired by Penske Entertainment

Penske Entertainment purchased the Grand Prix Association of Long Beach it was announced Thursday.

New Long Beach Grand Prix owner Roger Penske said he is proud to have acquired it, calling it "the most historic and prestigious street circuit race in North America." The annual three-day spring event converts downtown Long Beach streets to a 1.97-mile, 11-turn racecourse.

Five years ago, Penske purchased the Indianapolis Motor Speedway and the Indianapolis 500, the largest single-day paid sporting event in the world -- and now another notable purchase in Long Beach, the biggest street race in North America.

In its announcement, Penske Entertainment said working alongside the Acura Grand Prix of Long Beach team, the group plans to invest in "bolstering and enhancing the experience for race fans, sponsors and hospitality customers."

The first ever Long Beach Grand Prix was held in 1975, and the 50th Acura Grand Prix of Long Beach will be held on April 13, 2025. 

"We're incredibly proud to be the new stewards of this cherished and iconic event," said Roger Penske, the Chairman of Penske Corporation.  "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."

The Grand Prix of Long Beach underwent a major change in 2018 after it ended its 44-year partnership with Toyota as its title sponsor. In 2019, the association made a multi-year agreement with Acura to step in as title sponsor.

Attendance for the 2024 downtown Long Beach race drew 194,000, setting a new record for the event.