INDIANAPOLIS  — The Indianapolis Motor Speedway and the IndyCar Series have been sold.

The track, race as well as other assets including  IndyCar Series and Indianapolis Motor Speedway Productions have been sold to Penske Entertainment Corp.

Tony Hulman bought the dilapidated speedway in 1945 and brought racing back to the facility after a four-year hiatus following World War II.

Penske Entertainment is a subsidiary of Penske Corp., which is owned by billionaire Roger Penske.

Penske is the winningest team owner in Indianapolis 500 history with 18 victories.

A press conference is set for midday Monday.