In a press release Thursday morning, Penske Entertainment announced that it has acquired the Grand Prix Association of Long Beach, which is the organizing body of the Grand Prix of Long Beach and all events associated with it.

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.

Penske Entertainment has acquired the Grand Prix of Long Beach from Gerald R. Forsythe, the organization announced Thursday. It is the longest-running major street circuit race in North America, according to IndyCar,

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.

2024 will mark the 50th edition of the race weekend and is expected to include special events to mark the anniversary.

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 Gerry Forsythe, who owned half the event with the late Kevin Kalkhoven.

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.