The Indianapolis 500 wont be run on Memorial Day weekend for the first time since 1946 after Roger Penske on Thursday postponed one of Americas crown jewel sporting events until Aug. 23.

The Indianapolis 500 scheduled for May 24 has been postponed until August because of the coronavirus pandemic and won't run on Memorial Day weekend for the first time since 1946.

The Indianapolis 500 will not be run on Memorial Day weekend this year. The race has been rescheduled to Aug. 23 in response to the COVID-19 pandemic.

Other changes coming to the Indianapolis 500 this May include new rules for qualifying, a larger prize purse and updates to seating and video screens.

The purchase of the racetrack and its subsidiaries, including the IndyCar series, was completed Monday.

Once the deal is finalized, Penske will become just the fourth owner of the 110-year-old racetrack.

Indianapolis Motor Speedway and the IndyCar Series were sold to Penske Entertainment Corp. in a stunning move Monday that relinquishes control of the iconic speedway from the Hulman family after 74 years.

Kevin Harvick started the day by winning the pole position during the morning qualifying session and ended it with the largest margin of victory in the 26 years of the Brickyard 400.

Its costing the town $2,000 to $3,000 a week to keep the oil from reaching a nearby creek.

Simon Pagenaud's margin of victory over Alexander Rossi was a mere 0.2086 seconds -- the seventh-closest finish in the 103 years of the race.