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With legendary racers Tom Sneva, Mario Andretti, Rick Mears and Bobby Unser, Al Unser and Danny Sullivan competing for the team, Penske Racing established itself as an Indy car powerhouse throughout the 70s and 80s.
A Penske entry was fielded in NASCAR's premier series through 1977 with Donohue collecting one victory and Bobby Allison recording four wins. Penske reappeared in 1980 for a brief two-race stint with Missouri native Rusty Wallace, fielding a car for the young driver's NASCAR debut at Atlanta.
Following a 10-year hiatus from NASCAR competition, Penske Racing South was established in 1991 with Wallace and long-time Penske business associate Don Miller as the team's co-owners.
With the Indy car program continuing its remarkable production in the 90s with drivers like Emerson Fittipaldi, Al Unser Jr. and Paul Tracy, the team's NASCAR squad also began to develop a winning formula.
For 16 straight years, Wallace won at least one NASCAR race each season, tying him for third on the all-time list for the most consecutive seasons with at least one victory. He also finished in the top 10 in the series standings in 12 of his 15 seasons driving for Penske Racing. By the end of the 2005 season, 37 of Wallace's 55 career victories had come under the Penske Racing banner.
A new generation of open-wheel stars ushered in a new decade for Team Penske as Gil de Ferran claimed back-to-back CART titles in 2000 and '01 and Helio Castroneves scored consecutive Indy 500 victories in '01 and '02.
By 2001, Penske Racing flourished as a multi-car NASCAR operation with Wallace, Jeremy Mayfield and Ryan Newman leading the way on the track.
Team Penske first competed in the Indy Racing League in 2001 and it joined the series full time the following season.

Sam Hornish Jr. came aboard in 2004 and he led the Penske squad to its first IndyCar Series title in 2006.
Wallace retired from Cup competition after the 2005 season, closing the door on one of the most storied careers in racing. Kurt Busch, the 2004 NASCAR Cup titleholder, joined Penske Racing in 2006 as Wallace transitioned to the broadcast booth.
More than 30 years after winning at the highest levels of sports car racing, Penske returned to its roots late in the 2005 season, announcing an LMP2-class effort with Porsche in the American Le Mans Series. The squad had a remarkable homecoming, capturing the class championship with Sascha Maassen and Lucas Luhr in '06 before again earning titles in '07 and '08 with teammates Timo Bernhard and Romain Dumas.
Proven winners Busch and Newman led the charge for the Penske Racing NASCAR program in 2008 with Hornish Jr. joining the mix for his first full season of stock car racing. Highlighted by a dramatic 1-2 finish in the Daytona 500 with Newman securing Penske's first win in the "Great American Race" and Busch finishing a close second, the team added to the Penske Racing tradition of excellence.
Castroneves and newcomer Ryan Briscoe both had stellar seasons for the Team Penske IndyCar Series team in 2008. Each driver scored a pair of victories and Castroneves battled Scott Dixon for the series title down to the final lap of the season before finishing a close second in the championship.
On the sports car side, Penske Racing claimed its third consecutive ALMS championship in 2008. Bernhard and Dumas drove a Porsche Riley Daytona Prototype for the team in the Grand-Am Rolex Sports Car Series in 2009.
In '09, David Stremme joined the teamÃs NASCAR Cup Series lineup alongside Hornish and Busch, who earned two wins and finished fourth in the Chase for the Cup Series title. Rising NASCAR star Justin Allgaier ran the team's first full Nationwide Series season with new partner Verizon Wireless, and Allgaier captured series Rookie-of-the-Year honors.
Briscoe, Castroneves and newcomer Will Power enjoyed their share of success in the 2009 IndyCar Series. Briscoe won three races and finished third in a very tight championship battle, while Castroneves scored two wins, including his third victory in the Indianapolis 500. Power joined the team in a part-time role and he proved very productive as he won at Edmonton and finished inside the top-10 in all six of his starts.
The 2010 season looks to be one of the most exciting campaigns yet with Brad Keselowski joining the team for full-season efforts in both the Cup and Nationwide Series. He will team with Busch and Hornish at the Cup Series level and with Allgaier in the Nationwide Series. Castroneves and Briscoe also return to pursue the IZOD IndyCar Series crown for Team Penske, while Will Power will compete full-time in 2010 to give the team a potent three-car lineup.
History has taught us through the years that winning is a tradition carried on throughout all levels of Penske Racing and the 2010 season promises to add another exciting chapter to the chronicles of this storied organization.