The Indianapolis 500 was postponed Thursday until August because of the coronavirus pandemic and won't run in conjunction with Memorial Day for the first time since 1945.

The race will instead be held Aug. 23, three months later than its May 24 scheduled date.

"The month of May at the Indianapolis Motor Speedway is my favorite time of year, and like our fans, I am disappointed that we have had to reschedule the Indianapolis 500," said motorsports giant Roger Penske, who finalized his purchase of IndyCar and Indianapolis Motor Speedway earlier this year.

"However, the health and safety of our event participants and spectators is our top priority, and we believe that postponing the event is the responsible decision with the conditions and restrictions we are facing. We will continue to focus on ways we can enhance the customer experience in the months ahead, and I'm confident we will welcome fans with a transformed facility and a global spectacle when we run the world's greatest race."

The Indianapolis 500 began in 1911 but was not held in 1917 and '18 and from 1942 to '45 because of World Wars I and II. Tony Hulman bought the neglected speedway after the second war, and the Indy 500 returned to Memorial Day in 1946.

It has been scheduled for that time in May every year since, a familiar fixture for millions of fans over the years. Although weather has occasionally disrupted the prestigious race, it had never been outright rescheduled until now.

"In times like this it is all about leadership and communication. We have both in IndyCar and NASCAR," said Chip Ganassi, who fields cars in both series. NASCAR has not altered its plan to resume racing May 9.

Postponing the Indy 500 was an inevitable decision but still had to be difficult for Penske, who has already pumped millions into capital improvements to ready the historic speedway for its first 500 under new ownership.

"Memorial Day weekend has always provided Indianapolis 500 fans an opportunity to honor the men and women who have fought and sacrificed for our nation's freedom," Penske Entertainment Corp. president and CEO Mark Miles said. "This August, we'll also have a unique and powerful opportunity to honor the contributions and heroism of the doctors, nurses, first responders and National Guard members serving on the front lines of the fight against COVID-19."

Miles also thanked NBC, which took over broadcasting the race last year from ABC. NBC is already scrambling after this week's postponement of the Olympics to 2021; the Tokyo Games had been scheduled to open July 24 and run for nearly three weeks.

Penske had been eagerly anticipating the March 15 start to the IndyCar season but was forced to suspend the series 48 hours before the scheduled opener in St. Petersburg, Florida, when the coronavirus was declared a pandemic.

Four races were initially scrapped, and IndyCar said it would resume racing May 9 on the road course at Indy. The opening race is now listed as May 30 at Detroit, but the schedule is in flux.

The Indy road course race will now be run on July 4, a day before NASCAR races at The Brickyard in an unprecedented doubleheader between the series. St. Pete now is listed at the bottom of the IndyCar schedule with no date listed. It is not clear if that means it would be the season finale or if it could be wedged elsewhere into a schedule that is constantly changing.

Races at Barber Motorsports Park in Alabama, Circuit of the Americas in Texas and Long Beach will not be rescheduled. IndyCar moved the August race dates for Mid-Ohio one week earlier and Gateway outside of St. Louis one week later, while Portland was moved from Labor Day to one week after.

As for the 500, practices will begin Aug. 12-13, followed by Fast Friday on Aug. 14 and weekend qualifying Aug. 15-16. The following week is dark until Aug. 20, with the final Indy 500 practice on Friday, Aug. 21, as part of Carb Day.

"I'll tell you this, no matter what day or month or time they run the Indy 500, it's the greatest race on the whole planet Earth. We'll just have it in August this time and it will still be super, super good," said Bobby Unser, winner of the Indy 500 in 1968, '75 and '81.