When Roger Penske and his Penske Corp. acquire Hulman & Co., they're getting more than just the Indianapolis Motor Speedway and adjacent Brickyard Crossing Golf Course.

In fact, Penske is buying some 950 acres in Speedway, about 37% of the land in the town. And Penske wants to turn that land and the community into an "entertainment capital."

As an example, he points to the Kansas Speedway, where restaurants, an outdoor mall, major league soccer stadium, minor league baseball stadium, hotels and a casino have developed around the track, which opened in 2011.

Podcast host Mason King talked with Penske about his vision for development an entertainment capital and then called up Speedway Town Manager Jacob Blasdel to get his thoughts on the possibilities. Plus, King talks with local developer Mike Wells about whether Penske's vision could become reality.

To read more about the development possibilities, read this story from IBJ's Mickey Shuey.