He's cut the purse in half for the Indy 500, a reversal from February when he pledged an additional $2 million to make a $15 million pot.
#The greatest spectacle in racing series
It's believed he paid about $300 million for the speedway, the Ind圜ar Series and the Indy 500, and he's spent another $15 million on capital improvements. Penske's businesses are private companies, so whatever losses he's taken are not public. The financial numbers have got to be horrific for Penske, who in January bought IMS from the Hulman-George family that had owned the national landmark since 1945. Typically you make your best decision on the information you have.” “I think the world has changed, the state has changed, the city has changed, Marion County has changed from when I said that. “The numbers started to go the wrong way,” Penske said. When he said he wouldn't hold the race without spectators, the pandemic looked different in Indiana and surrounding Marion County. That was never going to be an option,” Penske said. “There was no way we were not going to run the race. The race itself? It is critical to the survival of Ind圜ar beyond being a a source of pride for the state of Indiana. Ultimately, the coronavirus was deemed too dangerous for Penske to expose himself, the speedway or the community that has supported the Indy 500 since 1911.
There was an 88-page plan along with confidence the Indy 500 could safely socially distance 25% attendance at the sprawling speedway with more than 250,000 seats. Penske earlier said he would pull the plug on the race if fans could not attend, and he tried, all the way until last week, to open the gates to his new showplace. 23, and new owner Roger Penske and the speedway staff will do their very best to honor the tradition of the treasured event. The pandemic pushed the race off its traditional date to Aug.
There have been only two pauses in race history, during World War I in 19, then from 1942-45 during World War II. The garages open Wednesday for the “Greatest Spectacle in Racing,” an event long woven into the nation's fabric as a Memorial Day weekend celebration. The race is simply too important to become yet another 2020 cancellation, even if it means closing the gates for the first time in 104 years.
#The greatest spectacle in racing full
There was always going to be an Indianapolis 500 this year -with full attendance, limited attendance or, where Indianapolis Motor Speedway finally landed, with no fans at all.
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