Penske Entertainment confirmed the acquisition of the Grand Prix Association of Long Beach, LLC, from longtime owner Gerald R. Forsythe. The association administers the Acura Grand Prix of Long Beach, the longest-running major street circuit race in North America.

The auto racing icon once owned Ontario Motor Speedway and was instrumental in developing California Speedway in Fontana.

Roger Penske has added the most prestigious street race in North America to his portfolio with the purchase of the Grand Prix of Long Beach.