Roger Penske agrees partnership with $4.8B market-capped giants to sponsor NTT IndyCar Series and IMS

The Penske Entertainment Group, led by Roger Penske, has announced a partnership with WillScot Holdings for the IndyCar Series. The temporary space solution provider will serve as an official sponsor for the American open-wheel racing series, including the IndyCar Series and the Indianapolis Motor Speedway (IMS).

In an announcement made via Stock Titan, the Penske Group confirmed a multi-year deal spanning from 2025 to 2027. The deal will feature the provision of mobile offices, storage containers, clearspan structures, and perimeter solutions, among others, at race events.

The agreement with the firm, which has a market value of $4.8 billion, according to stock analysts, also aligns with WillScot’s strategy to deepen its brand presence in the world of American motorsports as well as the broader professional events sector.

Sharing his thoughts following the announcement, Penske Entertainment Group CEO Mark Miles stated:

“We are pleased to welcome WillScot to the NTT IndyCar Series. Whether at Indianapolis Motor Speedway or traveling to other race venues, turnkey space solutions ensure we can offer our fans the best experiences possible.”

Since completing the takeover of the IndyCar Series and the Indianapolis Motor Speedway in 2019, Roger Penske has continued to improve the open-wheel racing series. Several innovations and strategic partnerships have since shaped the American racing series, including the introduction of hybrid engine technology, which is set to debut at the Indy 500 for the first time.

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Alfred Unser Jr hails Roger Penske’s impact on IndyCar growth

IndyCar series owner Roger Penske during the IMSA WeatherTech Championship Mobil 1 Twelve Hours of Sebring - Source: Getty

Alfred Unser Jr. recently praised Roger Penske’s impact on motorsports and the IndyCar Series. The IndyCar legend shared his admiration for the 88-year-old’s role in shaping the open-wheel series since taking over its affairs.

Unser Jr., who appeared on the Pit Pass Indy podcast on Spotify, also lauded Roger Penske’s influence on the Indy 500, which has seen its allure skyrocket in recent years. Detailing his thoughts, he stated:

"Yeah, it's great, what Roger Penske has done for the sport is just amazing. I knew it was only just a matter of time for him to really polish this thing up — IndyCar racing and the Indianapolis Motor Speedway. So, hats off to Roger and the whole Penske family for really, truly helping the sport of IndyCar racing." (10:49 onwards)

Under Penske’s stewardship, the IndyCar Series has seen its global profile surge, attracting a larger audience beyond the shores of the United States, along with improved commercial partnerships and stronger driver interest.

The octogenarian’s influence in motorsports transcends the IndyCar Series. The Team Penske chief also owns teams represented in NASCAR, the World Endurance Championship (WEC), IMSA, and several other racing series.

Beyond the racetrack, the Penske chief also boasts a significant impact outside motorsports, particularly in the Detroit region, where he is reportedly responsible for numerous sporting and economic developments the Michigan city has experienced.