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,"

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.