Penske Unveils Plan To Enhance IMS, Indy 500 | Performance Racing Industry
Penske Unveils Plan To Enhance IMS, Indy 500
February 14, 2020
The plan, which was put in place to help produce a legendary Month of May, includes an increase of the Indy 500 purse from $2 million to $15 million, facility upgrades, qualifying improvements, and an increase in sponsors.
Penske Unveils Plan To Enhance IMS, Indy 500

A wide-ranging, multifaceted plan to boost and strengthen the Indianapolis 500 presented by Gainbridge and the Indianapolis Motor Speedway (IMS) was unveiled by Roger Penske. The plans include significant improvements and financial investments.

The goal of the plan is to produce a legendary Month of May, including:

- The largest purse in Indianapolis 500 history growing from $2 million to over $15 million

- Improvements to the Indianapolis 500 qualifying format and television schedule

- A multimillion-dollar investment in the fan experience at IMS including technology upgrades, infrastructure improvements, and an enhanced atmosphere.

- New sponsors investing long term in the "500," IMS and NTT INDYCAR SERIES

"This is the Racing Capital of the World," Penske said, the new owner of IMS and INDYCAR. "It is on par with some of the most historic sporting institutions in this nation and across the globe, from Churchill Downs to Augusta National. Today, we're announcing a meaningful investment in our fan experience that will produce rapid results. It's part of a long-term plan to ensure the legendary status of the Speedway continues to grow and evolve for generations to come.

"I am very excited about the enhancements to qualifying weekend, the largest-ever '500' purse, new sponsors and the significant investments we are making to the INDYCAR SERIES and to the Indianapolis Motor Speedway."

For an overview of the Month Of May upgrades, visit here. For the complete story, visit the IMS website.