New Long Beach Grand Prix owner Roger Penske said he is proud to have acquired it, calling it "the most historic and prestigious street circuit race in North America,"

Roger Penske, the legendary driver, team owner and now race-track executive, has bought the Long Beach Grand Prix, adding the race to a stable of open-wheel events that already includes the Indy 500.

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.

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

The Grand Prix of Long Long Beach, the longest-running major street circuit race in North America, will have a new owner heading into the 50th edition of the event next year. Penske Entertainment announced its purchase of Grand Prix Association of Long Beach,

The owner of the IndyCar Series and Indianapolis Motor Speedway adds the iconic, historic street race to its portfolio.