Track Rumor: Roger Penske to Buy Long Beach GP (Update)

Penske Entertainment could make another run at trying to acquire a stake in the Acura Grand Prix of Long Beach, according to Sports Business Journal sources, including possibly buying the event outright.

The owner of IndyCar and Indianapolis Motor Speedway, Penske Entertainment made a bid to acquire a 50% stake in the race earlier this year at the same time as NASCAR was trying to buy it, according to a report at the time from Racer magazine.

However, Racer later reported that former race team owner Gerald Forsythe, who already owned the other stake in the event, purchased the remaining equity available from the estate of the late Kevin Kalkhoven.

In March, Forsythe told Racer: “If (any series) has its sights on Long Beach please tell them to look elsewhere. This (is) an IndyCar event, and it will be into the future.”

While Forsythe is committed to keeping the grand prix an IndyCar-centered event, sources say Penske appears to have re-engaged with event ownership on a new proposed deal.

The exact proposed terms were unknown, but it’s possible Penske could try to buy the event fully and run it moving forward, the sources said.

–by Mark Cipolloni–

The estate of Kevin Kalkhoven has decided to sell their 50% share of the GP of Long Beach since his death last year. Kevin Kalkhoven’s business partner, Gerald Forsythe, still owns the other 50%.

We have to imagine it is worth a lot of money.

Potential buyers we would imagine:

1. Roger Penske/Penske Enterprises to ensure it remains an IndyCar race
2. The France Family who would love to convert it to a NASCAR Cup and IMSA weekend
3. Liberty Media/Greg Maffei who would likely be genuinely interested in that 4th USGP Formula 1 race.  They entertained a bid from NY City but rejected it.  Long Beach used to be an F1 race and the seaside setting would be right up their alley – the Monaco of the West.
4. Stephen Ross who is in partners with Liberty Media for the Miami GP
5. Dan Towriss – Who is in partners with the Andretti’s in IndyCar and soon F1 and has a real interest in motorsports
6. Mark Walter – Owner of the LA Dodgers and other big sports entities and who is also partners with the Andretti’s effort to have an F1 team
7. Andretti Acquisitions (WNNR) – a special purpose acquisition company, focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities.

Stay tuned to these pages as this should get interesting.