Penske Corporation president Bud Denker has emphatically denied that IndyCar is for sale, squashing rumors that Liberty Media is set to acquire America's leading open-wheel series.
Ahead of last weekend's round of IndyCar racing at Long Beach, the conjecture surrounding a potential bid for IndyCar by Formula 1's commercial rights ramped up once again.
The NTT IndyCar Series was acquired by Penske Entertainment in early 2020 along with the Indianapolis Motor Speedway, with both properties purchased from the Hulman family.
In the past year, there were frequently whispers of a prospective deal happening between Penske and Liberty, with the latter allegedly interested in adding a second high-profile franchise to its motorsport portfolio.
As the speculation swelled once again last week, there was talk of Liberty acquiring IndyCar and transforming the latter into an American feeder series for F1.
In a report from American website RACER, Penske's Denker brushed off the chatter as pure hogwash.
"There’s no truth to any of that," he told RACER. "There’s been no discussion, and frankly, we wouldn’t sell it.
"Being the stewards of the Indy 500 and being stewards of the IndyCar Series go hand in hand.
"We bought this series and bought the Speedway in 2020, and as long as we own both of those, they’re going to stay together."
RACER also reached out to Formula 1 who confirmed that the hearsay was "completely wrong".