Penske Entertainment buys Grand Prix of Long Beach

Penske Entertainment has announced the purchase of the Grand Prix Association of Long Beach — acquired from longtime owner Gerald R. Forsythe. 

The historic Grand Prix of Long Beach, the longest-running street race based in Southern California, now joins the likes of the IndyCar Series, Indianapolis Motor Speedway and Detroit Grand Prix as part of the portfolio of brands under Penske Entertainment, a subsidiary of Penske Corporation. 

Next year will mark the 50th edition of the historic event, with special programming planned to mark the occasion. The race will return to network television, with FOX set to broadcast the event Sunday, 13 April.

“We’re incredibly proud to be the new stewards of this cherished and iconic event,” said Roger Penske. 

“This is the most historic and prestigious street circuit race in North America, and we’re excited to work with (Grand Prix of Long Beach CEO) Jim Michaelian and his great team in Long Beach to ensure continued success and growth over the long term. 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.”

Michaelian extended his thoughts on the significance of Penske taking over the event.

“As we prepare to celebrate a truly remarkable milestone, the 50th anniversary of this amazing event, it’s fitting that we have such exciting and important news to share about its future,” said Michaelian. 

“Roger and the team at Penske Entertainment understand the special history and unique qualities that give us such a strong foundation and will be ideal partners as we continue to deliver an exceptional race weekend for our fans moving forward. I also want to acknowledge the significant contribution that the previous owners, Jerry Forsythe and the late Kevin Kalkhoven, made to the success of our event over the past 19 years.”

According to the press release, Penske Entertainment “plans to invest in bolstering and enhancing the experience for race fans, sponsors and hospitality customers.” It is already heavily involved in the promotions at various IndyCar events held at Iowa Speedway, the Milwaukee Mile and the Grand Prix of Arlington set for 2026

“This is a major race weekend, not just on our calendar but across the motorsport landscape,” Penske Entertainment President & CEO Mark Miles said. “We’re committed to preserving the core attributes that make it best in class while also working on some exciting and bold initiatives to make its future even bigger and brighter.”

The 1.968-mile circuit, which wraps around the Long Beach Convention and Entertainment Center, typically hosts crowds of over 190,000 people across its three-day weekend. Additionally, the Grand Prix Foundation of Long Beach, a charity organisation, has donated more than $4.2 million to those in need within the Long Beach community.

“The Grand Prix is an incredibly vital and vibrant asset for our community and an annual event that drives commerce, attracts tourism and elevates cultural connectivity across our city,” said Long Beach Mayor Rex Richardson. 

“Penske Entertainment will be a committed and energetic partner for the future that seeks to preserve and enhance this event’s rich history and strong legacy. We’re looking forward to a great working relationship that benefits everyone who calls Long Beach home.”