The three executives were fired amid a cheating scandal involving illegally modified specs on Indianapolis 500 winner Josef Newgarden and teammate Will Power’s cars. The 2025 Indy 500 is on May 25, 2025. Penske fired three top executives amid an Indianapolis 500 cheating scandal on Wednesday. The backstory:Penske is owner of the three-car team, IndyCar, Indianapolis Motor Speedway and the Indy 500. Indianapolis 500 qualifying was held May 17-18, and the Greatest Spectacle in Racing is set for May 25.