Roger Penske says he is contemplating a bid for the Saturn automotive brand that General Motors Corp. plans to sell or shut down. While Penske has not yet made an offer, he said Friday a decision would have to come soon and that a number of unidentified details need to be worked out. Penske has a vested interest in the automotive industry. He owns the second-largest U.S. automobile retail chain in terms of sales, Bloomfield Hills, Mich.-based Penske Automotive Group Inc. He has race teams in the IndyCar, NASCAR and Grand-Am series. But Penske denied that he has made a deal and said published reports are ahead of the process.(ESPN.com/AP)(5-8-2009) UPDATE: General Motors Corp. has struck a tentative deal to sell its Saturn brand to former race car driver and auto dealer Roger Penske. Penske, who owns the Penske Automotive Group dealership chain, told reporters on Friday that he plans to offer all 350 Saturn dealerships new franchise agreements. He says Saturn’s 13,000 employees will stay on with the company for at least the immediate future. He declined to name the price for the deal. Penske says GM will continue to produce Saturn vehicles, though he is in discussions with manufacturers worldwide about building the vehicles going forward.(AP/ESPN)(6-5-2009)
