Like most open-wheel racing enthusiasts, I was pleased when the Hulman George family elected to sell the Indianapolis Motor Speedway (IMS) to the most powerful man in motor sports. After all, the Indianapolis 500 has been Roger Penske’s personal playground for decades, and his dominance as a team owner will never be matched. With his vast business acumen and virtually unlimited personal financial resources at his disposal, 16th Street and Georgetown Road could not be in better hands and is positioned for future success.
Just last Friday, he announced an aggressive (and overdue) plan to invest in the facilities at IMS and, just for good measure, also disclosed the purse for the upcoming 500 would be fattened by some $2 million. All this will occur before the track welcomes fans in May at IMS, and it’s a great start to his ownership of what many like yours truly still believe is the greatest race course on earth.
Along with his purchase of the famed oval, Penske also agreed to purchase IMS Productions and the NTT Racing Series, which of course is the sanctioning body of the Indy 500 and the other 16 events on the 2020 schedule. While the man affectionately known as “The Captain” is indeed imminently qualified to call the shots on how the series is run, it did raise a few eyebrows in terms of how the most dominant team owner could maintain his grip as a competitor and impartially control the overall direction of the series simultaneously.
Now, before you start screaming he who owns the most gold makes the rules, consider how easy it was for Penske to seamlessly delegate all of the decision making pertaining to his legendary IndyCar team to the current president of his racing operations, Tim Cindric, who has the respect of every competitor in the paddock.
While there may be some challenges in terms of administering the rules that apply to all the on-track endeavors, the race stewards will have the complete support of the new sheriff in town while retaining the authority they held prior to the purchase of the series. If anything, Penske has always been a “by-the-book” type guy, one with great integrity and discipline. Those virtues, along with his love for the sport and competitive drive, will continue to serve the series well.
Those highly manageable challenges aside, the real question is how does a man with all the aforementioned resources improve a series that is both long on competitive racing and short on fan appeal away from IMS? While dwindling attendance and a lack of overall interest in the coveted 18-30 demographic remain two of the biggest concerns, how can he convince corporate America to come aboard and be part of what I personally feel is the greatest racing in the world today? Can a man who can schedule a meeting with any CEO in the world harness both their attention and financial support?
It’s a tough sell in an ultra-cutthroat environment for motor sports sponsorship dollars, and then there is the whole how-do-you-go-up-against-NASCAR-for-more-television-money thing, when the Indy 500 is your only bartering chip? I’m confident Penske has a plan, but I do wonder what he can do differently than his predecessors did, in addition to twisting the arms of those who admire and respect him.
How does he attack the rising costs associated with owning a race team, and in the process, provide some relief to smaller operations?
The car count for the series is always up in the air, and whatever he can quickly do to help those he once obliterated as a competitor is sorely needed. Translation: There are a lot of warts that came with the acquisition of the series, and while it may have been a package deal, the fact remains the challenges in fortifying the series are daunting. From placating engine manufacturers, to obtaining more money from his television partners and developing a plan to resuscitate the Indy Lights Series and the Brickyard 400, this man has a lot on his plate, so be patient. While he is the most dynamic figure in motor sports, he’s not a miracle worker, so temper your expectations, and enjoy the ride. It will no doubt be interesting, and I for one am betting on Penske to prevail in what is clearly the biggest challenge in his professional career, and you should too.
Danny Bridges, who hopes Roger Penske will insist all media members wear dress slacks and a sport coat on race day, can be reached at 317-370-8447 or at bridgeshd@aol.com.
