Penske Corporation has completed its acquisition of the NTT IndyC🎃ar Series, ❀Indianapolis Motor Speedway and its associated companies.

Penske announced back in Novembe🐬r that it had struck a deal to takeover IndyCar and its various offshoots with its prior owner, Hulman and Company, putting Roger Penske at the helm of American single-seater racing.

In a statement issued on Monda꧑y, IndyCar confirmed that Penske 🗹had completed the takeover from Hulman and Co., becoming just the fourth owner of Indianapolis Motor Speedway.

"We are looking forwar✤d to carrying on the tradition of the Indianapolis Motor Speedway♒ and IndyCar racing," said Penske.

"We have been diligently working with the teams at IMS, INDYCAR and IMS Productions over൲ the last two months to ensure a smooth and productive transition and we are ready to hit the ground running.

“Now, it is💟 time to get to work as we continue the growth of the Sp🍎eedway and we build on the momentum of the NTT IndyCar Series."

The takeover sees Penske make a considerable addition to his motorsport portfolio that includes racin🐽g⛎ programmes in IndyCar, NASCAR, Supercars and sports car racing.

Penske’s takeover is set to herald a new era for both the NTT IndyCar Series and for Ind༒ianapolis Motor Speedway, which he is keen to evaluate the return of many racing 🐼series to.

A poten🔯tial revival of the F𒁃ormula 1 race at Indianapolis, staged between 2000 and 2007, has been mooted, while the track also hosted MotoGP between 2008 and 2015.

The new IndyCar season – and the first under Penske’s stewardship – will begin on March 15 with the Grand🅷 Prix of St. Pet🦋ersburg.