The airplane ground looped while on the landing roll. In a written statement, the private pilot reported that he was receiving instruction from the certificated flight instructor (CFI). He had accumulated 9.6 hours in the same make and model as the accident airplane, which was equipped with conventional landing gear. The private pilot stated that he departed and adjoined the downwind leg of the traffic pattern for the active runway. He extended the downwind leg in an effort to give adequate spacing between the accident airplane and an airplane that was landing. He noted that as he came in closer proximity to the runway, the other airplane had not cleared the runway. The private pilot further stated that in effort to give the other airplane adequate clearance, he maneuvered the accident airplane in a series of "S" turns followed with a 360-degree turn. After completing the turn, he reestablished the airplane on short final. He noted that the airplane was too high and at an airspeed twice as fast as normal. The airplane touched down, veering from left to right. It began a slow right turn and the pilot attempted to arrest the turn by applying left rudder input. The airplane continued the turn and veered of the runway surface colliding with a runway direction sign and taxiway light. The airplane came to rest 180 degrees from the runway heading. The private pilot reported no preimpact mechanical malfunctions or failures with the airframe or engine. The airplane incurred damage to numerous ribs during the accident sequence.