IMS and IndyCar said an announcement is forthcoming Monday at 11 a.m. with Hulman & Company Chairman Tony George, Hulman & Company CEO Mark Miles and Penske Corporation’s Roger Penske.
The Board of Directors for Hulman & Company said the sale involves the company and certain subsidiaries, including the Indianapolis Motor Speedway, the NTT IndyCar Series and IMS Productions, to Penske Entertainment Corp., a subsidiary of Penske Corporation.
This is the second major move by Hulman & Company this year. In May, the company sold its iconic , homegrown Indiana brand Clabber Girl to B&G Foods. At the time, officials said the sale would allow them to focus on racing and entertainment.
