Roger Penske has just added another notch in his auto racing belt. The billionaire purchased the Long Beach Grand Prix. The purchase also makes the Grand Prix an important part of another racing series Penske owns,

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.

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.