After decades at the helm of Penske Racing, motorsport legend Roger Penske has officially announced his decision to step down, marking the end of an era. In a surprising yet exciting transition, NASCAR driver Bubba Wallace and team owner-driver Denny Hamlin have formed a groundbreaking partnership to assume co-ownership of the iconic racing organization. Penske, 88, cited a desire to ensure the team’s future remains innovative, inclusive, and competitive in the rapidly evolving landscape of motorsports.
The move signals a major shift in NASCAR’s ownership structure, highlighting the growing diversity and new leadership within the sport. Wallace, already a trailblazer as the only full-time Black driver in NASCAR’s top series, brings fresh energy and a powerful voice for equity, while Hamlin contributes years of competitive and business experience through his involvement with 23XI Racing. Together, they aim to preserve Penske’s legacy while pushing the team toward a dynamic future.
This co-ownership marks a historic moment, not just in Penske’s story, but in NASCAR’s broader evolution. Penske expressed full confidence in the new leadership, calling Wallace and Hamlin “visionaries who understand racing’s past and are ready to shape its future.”
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