<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G/A
(RULE 13d-102)
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 and 13-d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Penske Motorsports, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.01 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
709598 10 6
-----------------------------------------
(CUSIP Number)
Check the following box if a fee is being paid with this statement [_]. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
SCHEDULE 13G
CUSIP No. 709598 10 6
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Kaiser Ventures Inc.
IRS ID 94-0594733
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* N/A
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
State of Delaware, U.S.A.
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 1,627,923
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 1,627,923
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
0
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,627,923
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11
11.51%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
CO
- ------------------------------------------------------------------------------
(1)
(2)
<PAGE>
ITEM 1. (A) Name of Issuer:
Penske Motorsports, Inc.
(B) Address of Issuer's Principal Executive Offices:
3270 W. Big Beaver Road, Suite 130, Troy, Michigan 48048
ITEM 2. (A) Name of Person(s) Filing:
Kaiser Ventures Inc.
(B) Address of Principal Business or, if none, Residence:
3633 East Inland Empire Blvd., Suite 850
Ontario, CA 91764
(C) Citizenship: Incorporated in Delaware, U.S.A.
(D) Title of Class of Securities: Common Stock
(E) CUSIP Number: 483100 10 3
ITEM 3. If this statement is filed pursuant to Rules 13d-1(b), check whether
the person filing is a: Inapplicable
(a) [_] Broker or dealer registered under Section 165 of the Act,
(b) [_] Bank as defined in Section 3(a)(6) of the Act,
(c) [_] Insurance Company as defined in Section 3(a)(19) of the
Act,
(d) [_] Investment Company registered under Section 8 of the
Investment Company Act,
(e) [_] Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940,
(f) [_] Employee Benefit Plan, Pension Fund which is subject to
the provisions of the Employer Retirement Income Security
Act of 1974 or Endowment Fund; see (13-d-1)(b)(1)(ii)(F),
(g) [_] Parent Holding Company, in accordance with
Rule (13d-1)(b)(ii)(G); see item 7,
(h) [_] Group, in accordance with the Rule 13-d-1(b)(ii)(H).
<PAGE>
ITEM 4. Ownership
If the percent of the class owned, as of December 31 of the year covered by
the statement, or as of the last day of the month described in Rule 13d-1(b)(2),
if applicable, exceeds five percent, provide, provide the following information
as of that date and identify those shares which there is a right to acquire.
(a) Amount Beneficially Owned:
1,627,923
(b) Percent of Class: 11.51%
(c) Number of shares as to which such person has:
i) sole power to vote or to direct the vote
1,627,923
ii) shared power to vote or to direct the vote
None
iii) sole power to dispense or to direct the disposition of
1,627,923
iv) shared power to dispose or to direct the disposition of
None
ITEM 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following [_]
ITEM 6. Ownership of More than Five Percent on Behalf of Another Person
Not applicable.
ITEM 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company Not
applicable.
ITEM 8. Identification and Classification of Members of the Group
Not applicable.
ITEM 9. Notice of Dissolution of the Group
Not applicable.
ITEM 10. Certificate
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purpose or effect.
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
February 11, 1998
KAISER VENTURES INC.
a Delaware corporation
By: /s/ JAMES F. VERHEY
--------------------------
James F. Verhey
Executive Vice President &
Chief Financial Officer
