Indianapolis Motor Speedway, IndyCar Series sold to Penske

The famed Brickyard, which has hosted the Indianapolis 500 since 1911, has been owned by Hulman & Company, the Indianapolis Star reported.

Both companies announced the sale in a news release Monday.

"The Board of Directors of Hulman & Company are announcing the sale of the company and certain subsidiaries, including the Indianapolis Motor Speedway, the NTT IndyCar Series and Indianapolis Motor Speedway Productions (IMS Productions), to Penske Entertainment Corp., a subsidiary of Penske Corporation," the release said.

Officials from both companies will hold a news conference at 11 a.m. Monday, WTHR reported.