Roger Penske on Thursday added the most prestigious street race in North America to his portfolio with the purchase of the Grand Prix of Long Beach. He bought the race from Gerald Forsythe, who owned half the event with the late Kevin Kalkhoven.

Long Beach's iconic street race has a new owner that’s deeply intertwined with the racing world — and IndyCar specifically.

The auto racing icon once owned Ontario Motor Speedway and was instrumental in developing California Speedway in Fontana.

Roger Penske, 87, keeps on the accelerator by acquiring the Long Beach street race to go with his IndyCar holdings.

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.

The next Grand Prix of Long Beach will be the 50th edition of the race weekend and is expected to include special events to mark the anniversary. The race will be broadcast on Fox on April 13.

Penske Entertainment announced Thursday that it has acquired the Grand Prix Association of Long Beach from Gerald Forsythe. The purchase

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

Roger Penske and Penske Entertainment made big news Thursday morning, that it is the new owner of the Long Beach Grand Prix. This comes five years after another surprise announcement, that Penske had purchased the Indianapolis Motor Speedway,