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Penske's $100M Bet: IndyCar Roars Back Strong
18 Nov
Summary
- Roger Penske invested $100 million to improve IMS.
- IndyCar viewership rose 27% with FOX partnership.
- The 2025 Indy 500 was the first sell-out since 2016.
Roger Penske's acquisition of IndyCar and the Indianapolis Motor Speedway in late 2019 has been marked by ambitious improvements and resilience. Despite the severe financial impact of COVID-19 in 2020, which led to significant revenue loss from ticket sales, Penske injected approximately $100 million into the IMS for upgrades. This investment demonstrated a strong commitment to the series' future and its iconic venue, even during unprecedented economic downturns.
The series has since experienced a considerable turnaround, notably with its broadcast partnership with FOX. This collaboration has resulted in a 27% increase in average viewership, attracting younger demographics and more female viewers. The success of this partnership was a key factor in FOX's decision to invest further, acquiring a third of Penske Entertainment and becoming a co-owner of the series and the Speedway.
This renewed energy culminated in the 2025 Indy 500, which achieved a sold-out status for the first time since the 100th running in 2016, drawing over 350,000 attendees. While Roger Penske's ownership of the series has seen great success, his team, Team Penske, faced significant struggles and controversy during the 2025 season.
