As a follow-up to being awarded the Presidential Medal of Freedom last week, Roger Penske now owns the Indy 500. And one of the most famous race tracks in the world.

According to MLive.com, Penske Entertainment, which is owned by Roger Penske, is buying Hulman & Company, which owns the Indianapolis Motor Speedway, the IndyCar Racing Series and IMS Productions. Penske Corporation is based in Bloomfield Hills, Michigan. (Yes, I know Mr. Penske was born in Ohio. He couldn't help that)

This is not Penske's first racetrack. Roger Penske owned Michigan International Speedway for 27 years, from 1972 until 1999. He's had racing teams competing in the Indy 500 (and the Brickyard 400) since 1969. He owns Team Penske, fielding Joey Logano, Brad Keselowski and Ryan Blaney in NASCAR, plus drivers in the Xfinity, IMSA and Australian Supercars series. His IndyCar drivers include  Hélio Castroneves, Juan Pablo Montoya, Josef Newgarden, Simon Pagenaud and Will Power.

Here's the story.