Latest news with #PenskeRacing
Forbes
4 days ago
- Business
- Forbes
Indianapolis 500 Final Results: The Good And The Bad For Roger Penske
The good: The 2025 Indianapolis 500 had an average viewership on Fox Sports of 7.05 million on May 25. That was the highest television ratings for the event since 2008 and up from 5.02 million in 2024, the last time NBC televised the race. It was also better that the almost 6.8 million viewers for the Daytona 500 in February, NASCAR's biggest race, also televised by Fox. Since the mid-1990s, NASCAR has dominated IndyCar racing in the United States. In the 1990s, IndyCar was split between competing series. NASCAR zoomed by. This year, on television at least, IndyCar took the lead. The bad: The Indy 500 had some embarrassments. Two cars owned by Penske, who also owns the Indianapolis Motor Speedway and the IndyCar Series, were forced to start from the back of the race. That was because of a cheating scandal. On top of that, Marcus Ericsson, who finished second in the Indy 500, was penalized for a rules violation and officially came in 31st out of 33 cars. For Roger Penske, 88, it was at best a mixed bag. Penske has used racing to promote his transportation businesses. He's won a lot at the Indianapolis 500 races as a team owner (20, actually) and has also been a winner in NASCAR. Penske promotes a winning image, with professionalism and preparation. He owns major auto dealerships and a truck rental business. But this year, he fired three leading members of his IndyCar racing teams after the Indianapolis racing scandal. Professionalism and preparation seemed to be a thing of the past. The businessman, in a Fox Sports interview with Jamie Little, said changes may take place in IndyCar, such as a more independent body to oversee the Indy series. That remains to be seen. The IndyCar series this week moves on from Indy to a Detroit event. For now, the Indianapolis 500 is, more or less, at a high. IndyCar faces other issues. Does the series have a succession plan? Nobody outside of the series, or Penske, really knows. One addition for IndyCar in 2026 is the IndyCar Grand Prix of Arlington, where Penske is joining forces with Dallas Cowboys owner, Jerry Jones, 82. Then again, Penske has gotten used to working with aging business moguls. Fox Sports is controlled by Rupert Murdoch, 94.
Forbes
21-05-2025
- Automotive
- Forbes
Roger Penske, The Lion In Winter, Reacts After Indy 500 Embarrassment
Owner Roger Penske of Penske motorsports looks on during qualifying for the Mobil 1 Twelve Hours of ... More Sebring at Sebring International Raceway on March 14, 2025 (Photo by) Roger Penske, who owns the Indianapolis Motor Speedway, the IndyCar series and a major IndyCar team, didn't wait long to react to a major embarrassment. Penske's team was penalized by his own racing series after the team improperly prepared team race cars for a run at the pole position for this weekend's Indianapolis 500. That meant that two Penske entries will start at the back of the Indy 500 field on Sunday. The Captain, as Penske, 88, is known, announced Wednesday he fired three leaders of his IndyCar team: Tim Cindric, Ron Ruzewski, and Kyle Moyer. No replacements were named. 'Nothing is more important than the integrity of our sport and our race teams,' Penske said in the statement issued Wednesday. 'We have had organizational failures during the last two years, and we had to make necessary changes. I apologize to our fans, our partners and our organization for letting them down.' In 2024, Team Penske got caught in a cheating scandal. That involved illegal use of so-called 'push to pass' software. Driver Josef Newgarden was stripped of his win for the first 2024 IndyCar race in St. Petersburg, Florida. That controversy died down after Newgarden won the 2024 Indy 500 late in the race. It was Newgarden's second consecutive Indianapolis 500 victory and Penske's 20th Indy 500 win as a team owner. FEATURED | Frase ByForbes™ Unscramble The Anagram To Reveal The Phrase Pinpoint By Linkedin Guess The Category Queens By Linkedin Crown Each Region Crossclimb By Linkedin Unlock A Trivia Ladder This year's controversy arguably is more of a stain on the Penske brand. Penske drivers Newgarten and Will Power will start 32 and 33 in the 33-car field because of the rule violations. That will make Newgarten's task of winning a third consecutive Indy 500 much more difficult. More broadly, Penske has used his image as a team winner to help his transportation businesses, which include auto dealerships and truck rentals. Team Penske was known for professionalism and preparation. That image rubbed off on Penske's larger business interests. Today, Roger Penske wears many hats when it comes to IndyCar. He bought the Indianapolis speedway and the IndyCar series in a deal announced in 2019 which was completed in January 2020. On top of everything else, Penske announced in November, he was acquiring the Long Beach street race, a major IndyCar event. The latest controversy for Penske comes on the 30th anniversary of the 1995 Indianapolis 500 when the team owner was unable to qualify a single car for that race. Until now, 1995 was the biggest embarrassment for Penske's racing efforts. Penske, the Lion in Winter, is IndyCar. How well the Captain reacts will tell a lot about where IndyCar in heading.
Washington Post
18-05-2025
- Automotive
- Washington Post
Team Penske has miserable Indy 500 qualifying day with 1 crashed car and 2 failed inspections
INDIANAPOLIS — Qualifying day for the Indianapolis 500 — the most important race in the eyes of Roger Penske — turned into a disaster Sunday when all three of his cars were denied a chance to run for the pole. It comes a year after the same three drivers swept the front row at Indianapolis Motor Speedway.
Yahoo
31-01-2025
- Automotive
- Yahoo
Team Penske Racing President Tim Cindric Takes a Step Back
Team Penske's racing boss Tim Cindric is moving out of the top racing seat at the team to focus on Penske's IndyCar program, the team announced today. In addition to heading the IndyCar side, Cindric—who had carried the title for of president of Team Penske since November, 2005—will oversee the team's racing archives and historical assets. Cindric has been with Penske since 1999. A son, Austin Cindric, drives for Team Penske in the NASCAR Cup Series. 'I have lived my dream job for the past 25 years as the overall leader of the Penske Racing organization," Cindric, 56, said. "I've had the opportunity to work with some of the best people in the business while achieving many milestones together. "I've decided I need to make a change that provides me with the flexibility I need at this stage of my career. I appreciate the understanding Roger has provided throughout our conversations and I'm confident this team will continue to succeed as we have a proven leadership team in all areas.' Ron Ruzewski will continue as managing director for the IndyCar team. Michael Nelson will remain as the president of Team Penske's NASCAR program and vice president of pperations while Jonathan Diuguid will continue in the role of managing director of Porsche Penske Motorsport on the sports car side. Nelson and Diuguid will report directly to Roger Penske.
