$6.2B-worth Roger Penske completes Ferrari deal in Italy, expects to earn $40M annually

Roger Penske has increased his presence in the automobile world after purchasing a Ferrari dealership in the Emilia-Romagna region. The 88-year-old is slated to earn revenue of over $40 million with his latest acquisition, as his ties with the Italian manufacturer deepen.

Penske is one of the most renowned names in the world of motorsports, and its president $ 6.2 billion worth Roger Penske (according to Forbes), has his feet in various sectors worldwide. He owns a myriad of dealerships across the United States, but the Captain's pursuit of excellence and expanding his empire led him to Italy.

The Penske Automotive Group recently announced that it had completed the purchase of a Ferrari dealership in Modena, Italy. This addition of the location to Penske's arsenal has bumped up its presence to nine Prancing Horse dealerships worldwide.

Reflecting on the latest accretion, Penske Automotive Group Head of International Operations Randall Seymore said:

"We are honored to represent the Ferrari brand at such an iconic location in Italy. Our luxury brand presence in northern Italy, strong reputation and experienced leadership team will help us provide exceptional service to Ferrari customers. We welcome the Ferrari brand in Italy, its customers and its existing employees to our team."

On the other hand, Penske's motorsport ventures have not been going well lately, as his IndyCar team was recently involved in a scandal at the qualifying for the Indy 500.

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Roger Penske recently made several changes to his IndyCar team after axing several high-ranking members earlier in May

Roger Penske at the INDYCAR Series' 107th running of the Indianapolis 500 - Source: Getty

The Roger Penske-led operation was tainted with the rear-attenuator scandal. The organization's name had already been under dark clouds after the Puss-to-Pass scandal in 2024.

With another scandal popping up at the qualifying for the Indy 500, mud was thrown at the team's reputation, leading the 88-year-old to sack Tim Cindric, Ron Ruzewski, and Kyle Moyer. The team was then run basically without a face until Jonathan Diuguid and Travis Law were promoted to the open-wheel racing effort in the United States as the new heads.

Reflecting on the opportunity, Diuguid said (via Team Penske):

"The opportunity to lead the Team Penske efforts across the INDYCAR SERIES, IMSA and WEC is a tremendous responsibility, and the feeling of being trusted to lead these teams is a great honor. After two decades working for Roger Penske, I truly know and understand what the Penske name means in the world of motorsports. The best way I know to show my appreciation to him for his trust is to ensure our success continues well into the future."

Meanwhile, Team Penske is having a torrid 2025 campaign as the team's highest driver in the championship standings, Will Power, sits ninth.