Fans felt relief last week when Penske Entertainment purchased the Acura Grand Prix of long Beach, ensuring that the most popular event on the schedule outside of the Indianapolis 500 will remain an IndyCar event.

I have been concerned for a couple of years now as both F1 and NASCAR made bids to put one of their races on the streets of Long Beach. The event is only allowed one rave event per year by agreement with the city. Now we know that IndyCar will have exclusive rights to the spring race. The agreement with the city runs through 2028.

As with any acquisition in racing, there are caveats. Chief among them is Roger Penske’s age. I am aware of a succession plan, with Greg Penske assuming leadership. I have met Greg, and I was impressed by him, nut what if he decides the event no longer makes business sense for Penske Entertainment?

The IndyCar series now owns Long Beach and the Grand Prix of Detroit. Penske also helps promote Iowa, Nashville, and lent a hand with Milwaukee in 2024. My question is, should the series buy more street races? Is that really the function of the racing series? I don’t think it is.

NASCAR has a separate company that owns and acquires tracks, but IndyCar is not in a position to do that. Purchasing street events is more economical, as there are no costs for track maintenance and much smaller staffing requirements.

A racing series should focus on setting rules for equipment, racing, and scheduling. Buying property should not be on their plate. I realize that the Long Beach acquisition was a necessary move, and I hope this where the track/event buying stops.