Tony george no longer on ims/hulman george board

[SarahFan]

thats the rumor.....


*waiting on confirmation/link

[SarahFan]

TONY GEORGE RESIGNS BOARD MEMBERSHIPS
OF INDIANAPOLIS MOTOR SPEEDWAY, HULMAN & COMPANY

INDIANAPOLIS, Tuesday, Jan. 19, 2010 – The Board of Directors of Hulman & Company and affiliated companies, including the Indianapolis Motor Speedway, has received the resignation of Anton H. “Tony” George from the board of directors effective immediately, according to Mari Hulman George, chairman.

“As members of his family, we are sorry to see Tony leave,” said Mrs. George. “We are grateful for his service to our company as a board member and of course for formerly serving as CEO and president of our companies. I speak for our whole family in wishing him well.

“All of us had hoped that Tony would continue to serve on the board, and we made that clear to him. We are disappointed with his decision to step down despite our wishes.”

His resignation removes George from any remaining role in Hulman & Company, Indianapolis Motor Speedway, Indy Racing League, IMS Productions and other affiliated companies. His term as CEO of the family companies ended June 30, 2009. He continues to be involved in racing through his ownership of Vision Racing, a competitor in the IZOD IndyCar Series of the Indy Racing League.

The board vacancy will be addressed at a later date. In addition to Mari Hulman George, board members include Nancy George, Josie George, Kathi George-Conforti and Jack Snyder.

Mari Hulman George said she is very pleased with the direction of the company and the progress that has been made during the last six months.

“Our company is healthy and is weathering the economic recession well,” she said. “Jeff Belskus, president and CEO of the Indianapolis Motor Speedway, and Curt Brighton, president and CEO of Hulman & Company, are both doing excellent jobs in guiding our companies through this difficult time. Many hard decisions have been made, and now our companies are well positioned for the future.”




*^ the above is a cut and paste from another forum......not sure where it was published

[Mark in Oshawa]

Well this isn't nothing surprising really. Tony spent a lot of money and they really don't have much financially to show for it. YES, they now own the series that races the cars racing at IMS, but really, at what cost?

[SarahFan]

Well this isn't nothing surprising really. Tony spent a lot of money and they really don't have much financially to show for it. YES, they now own the series that races the cars racing at IMS, but really, at what cost?

600million$

[SarahFan]

the question is ....

is he actually stepping away because he is done with the IRL, IMS and the Hulman company, at leat from a day to day operational standpoint(I am assumeing he still an owner and recieves income)

or is this a step being taken to position himself to purchase part or all of the company?

[Mark in Oshawa]

the question is ....

is he actually stepping away because he is done with the IRL, IMS and the Hulman company, at leat from a day to day operational standpoint(I am assumeing he still an owner and recieves income)

or is this a step being taken to position himself to purchase part or all of the company?

I don't think he has the money Ken. If he had it, he wouldn't have needed the IMS piggy bank to finance his IRL. I think he is going to resign himself to running a team, which I predict he will either sell or walk from at some point in the near future. Tony doesn't play well with others......and that is what got him into this mess in the first place.

[djparky]

I probably shouldn't, but as a former CART supporter I have to do a Nelson Munz- "ha ha"

kind of getting what he deserves for destroying Indy Car racing

[SarahFan]

I don't think he has the money Ken. If he had it, he wouldn't have needed the IMS piggy bank to finance his IRL. I think he is going to resign himself to running a team, which I predict he will either sell or walk from at some point in the near future. Tony doesn't play well with others......and that is what got him into this mess in the first place.

but he does own a certain percentage of the speedway....20-25%(total speculation on my part)....

who to say he wouldn't/couldn't contribute that equity to a partnership group to get it done


*im not saying thats whats happening, only throwing it out as a possibilty for for discussion

**also, while not on the board, does he not technically still own a share of the IRL

[Lee Roy]

the question is ....

is he actually stepping away because he is done with the IRL, IMS and the Hulman company, at leat from a day to day operational standpoint(I am assumeing he still an owner and recieves income)

or is this a step being taken to position himself to purchase part or all of the company?

After being at the epicenter of the American Open Wheel Racing meltdown for over at decade and a half, the question should be "why would Mr. George want to stick his head into that noose again?".

[NickFalzone]

Stranger things have happened Ken. But my guess? He's pissed that they're not throwing some money his way for Vision racing. There's been speculation that the team only has enough money to run Ed on the ovals, and even that has come into question. And Tony has not only wanted Ed to run fulltime, but also to have a 2nd car. My guess is the money is not there to make it happen to his liking.

[SarahFan]

so.... the consensus is, that besides being a team owner, we have seen the last of TG....


hmmm....

[SarahFan]

Stranger things have happened Ken. But my guess? He's pissed that they're not throwing some money his way for Vision racing. There's been speculation that the team only has enough money to run Ed on the ovals, and even that has come into question. And Tony has not only wanted Ed to run fulltime, but also to have a 2nd car. My guess is the money is not there to make it happen to his liking.

but thru his trust he is still a partial onwer of IMS/IRL/Hulman co....is he not?

[NickFalzone]

I don't know how the trust works or his involvement w/ it. But with the first tests coming up at Sebring in a few weeks, all the teams are trying to pull last minute details together right now. So I feel like what has happened is that he's asked for some funding for Vision, but the piggy bank has been closed, and now he has to figure out a way to run a partial schedule with whatever funding they have in place. This issue may apply to their Lights teams as well.

FYI, the statement from IndyCar.com:

Latest news: Tony George has indeed resigned his position on the board of directors from Indianapolis Motor Speedway and Hulman & Companies subsequently removing him from any remaining role with the IRL, IMS Productions and other affiliated companies. However, TG remains involved in the IZOD IndyCar series as owner of Vision Racing.

[Scotty G.]

Some of you folks dancing on TG's grave, will be sad when the league is sold to a outside source soon. Say what you will about Tony George, but at least he actually had a passion for the sport of racing and tried to do his best to ensure his track and his sport's future (which is murky, AT BEST, now).

A new day in Indy Car racing is coming....and its going to look a whole lot different then it has the past 30 years. ;)

Keep your eye on TG, John Menard, Joie Chitwood and the France family. That could be your next leadership group for the future of Indy Car Racing.

And it might take being aligned with NASCAR, to keep it afloat and actually grow the sport again.

[Lee Roy]

And it might take being aligned with NASCAR, to keep it afloat and actually grow the sport again.

You're assuming that NASCAR would want it.

[methanolHuffer]

Nascar has a pretty good thing going for itself. I don't see how adopting an albatross into the family will help them.

Part of me says that an absence of the 500 as we now know it would be a good thing (for a few years). I don't thing I've really been impressed with the greatest spectacle in many years.

[Mark in Oshawa]

but he does own a certain percentage of the speedway....20-25%(total speculation on my part)....

who to say he wouldn't/couldn't contribute that equity to a partnership group to get it done


*im not saying thats whats happening, only throwing it out as a possibilty for for discussion

**also, while not on the board, does he not technically still own a share of the IRL

20% of the Speedway isn't enough.....and Mari would have him killed and his body dumped in the Wabush if his sisters didn't beat her to it.

[Scotty G.]

Part of me says that an absence of the 500 as we now know it would be a good thing (for a few years).

Indy Car Racing would be dead in about 2 seconds without the Indy 500.

Especially now.

[methanolHuffer]

Indy Car Racing would be dead in about 2 seconds without the Indy 500.

Especially now.

Yeah I know.
That's the point.

[Mark in Oshawa]

You're assuming that NASCAR would want it.

One good reason they wont, the anti-trust/monopoly provisions of US law.

Now, would they want it? Well they could control it...but then again they couldn't have had OW racing run more to their satisfaction than if they HAD owned Tony George.

[Mark in Oshawa]

Indy Car Racing would be dead in about 2 seconds without the Indy 500.

Especially now.

Gee Scott, wonder how this state of affairs came about tho? Indycar racing was never meant to be without the Indy 500, but the mania of saving it and keeping it holy has just about destroyed the series, and without the IRL, there is no real Indy 500 now is there?

[methanolHuffer]

IMS would make a great place for a flea market for all I care. Let the weeds take over like it did at one point.

In a few years, some innovative business men will buy and restore it, and after so many decades, their grandsons will run it into the ground.

[Scotty G.]

You're assuming that NASCAR would want it.

The France's and Smith's are astute business-people.

This would be the PERFECT time to take over Indy Car Racing. Its at the bottom of the barrel. It can't go anywhere but up. Its value is at its lowest point ever. The people in charge of IMS and IRL could care less about racing and want to dump it ASAP to a group that is stable and financially viable.

The George family sisters DO care about their legacy and about their speedway. Selling it to a group led up by Tony, the France's and John Menard, would be a way to recoup their $$$ losses and move it along to a group with IMS's future best interest at hand. Plus it means the younger generation (TG Jr, the Krisiloff kids, Lauren George and Carpenter) can be groomed to run the place and eventually have a big voice in Indy Car Racing.

The France's or Bruton Smith (either one could be involved) need new challenges and new racing entities. As great as their various series are, they still don't have anything as unique and historic as the Indianapolis 500, in NASCAR or in the SMI or ISC family. The potential of reviving Indy Car racing, under a ISC/France banner or SMI/Smith banner, with TG and John Menard involved to steer it/finance it, has to be intriguing.

This isn't as far-fetched as it might sound. And without something like this happening, the real possibility exists that Indy Car Racing will be dead and the Indy 500 eventually becoming a "stand alone" event in the very near future.

[Mark in Oshawa]

Scott, if you think turning the series over to the guy who put this series to where it is now with THEIR Money is the France plan, you are wrong. If the Frances buy into it, they wouldn't have Bruton Smith as their partner, because Bruton is a wild card. John Menard spends his money on his son's career as much as anything, so I cant see him getting too involved, and with the Frances, the core business will be always NASCAR. They buy this series, they will guarntee it will NEVER be as important as it was or could be. They will not kill the series, but they will never allow it to be what it should be either.

You are right, IRL is at rock bottom, and your hero put it there.....

[Scotty G.]

Gee Scott, wonder how this state of affairs came about tho?

Most of the past and current issues of the sport would have eventually led to its demise anyway.

Continuing to blame "the split" for why Indy Car Racing is a dead entity is tiring and disenginous. It obviously didn't help things, but in reality all it did was speed up the eventual death that was coming. NASCAR was still going to blow them away, whether there was one or two series. The economy was still going to tank, whether there was one or two series. Failing to properly replace popular and heroic long-time drivers in the early 90's, happened whether there was one or two series. Failing to market your sport and figuring out your audience, was a problem whether there was one or two series. Bad leadership and car owners only in it for their own self interests, were a problem whether there was one or two series.

And BTW, there is no "split" now. That's been over for going on 3 seasons now. And if anything, things are WORSE now then they were before and the future less bright. Continuing to use "the split" for why Indy Car continues to go nowhere and appeal to no one, isn't that plausable anymore.

Tony George failed. John Frasco failed. Andrew Craig failed. Joe Heitzler failed. Chris Pook failed. Gerald Forsythe failed. Kevin Kalkhoven failed.

Under these people's various watches, the sport dwindled in importance among American racers and fans and NASCAR took off and left them in the dust.

[ykiki]

My question regarding a takeover by NASCAR/France Family et al, would be this...

Is the IRL making money? If not, they'd have to hold the strong belief that not only would the IRL make money under their leadership, but profit growth would continue to increase for the foreseable future.

If owning the IRL wouldn't make money for NASCAR, then why would they bother with it?

[Mark in Oshawa]

Most of the past and current issues of the sport would have eventually led to its demise anyway.

Continuing to blame "the split" for why Indy Car Racing is a dead entity is tiring and disenginous. It obviously didn't help things, but in reality all it did was speed up the eventual death that was coming. NASCAR was still going to blow them away, whether there was one or two series. The economy was still going to tank, whether there was one or two series. Failing to properly replace popular and heroic long-time drivers in the early 90's, happened whether there was one or two series. Failing to market your sport and figuring out your audience, was a problem whether there was one or two series. Bad leadership and car owners only in it for their own self interests, were a problem whether there was one or two series.

And BTW, there is no "split" now. That's been over for going on 3 seasons now. And if anything, things are WORSE now then they were before and the future less bright. Continuing to use "the split" for why Indy Car continues to go nowhere and appeal to no one, isn't that plausable anymore.

Tony George failed. John Frasco failed. Andrew Craig failed. Joe Heitzler failed. Chris Pook failed. Gerald Forsythe failed. Kevin Kalkhoven failed.

Under these people's various watches, the sport dwindled in importance among American racers and fans and NASCAR took off and left them in the dust.

I'll save everyone a lot of bother and just say that we will never know what would have happened if Tony had left well enough alone, but to suppose for 5 minutes that this would have happened regardless means then we might as well shut it all down and walk away. Is that your feeling?

I do know this much. Mismanagement wont kill a series if there is no real competition for it. The problem is there was too much competition for the CART series to withstand some bad managers. Tony just covered the red ink with IMS money.....and so we cannot say for sure what would happen if either series was well funded and well run.
My point has been, and always was two series was committing suicide slowly, and there was lots of blame to go around for how it all swirled down the toilet. NASCAR didn't have to have an A game for competition with Indycar....but the fact they are well run and have always known who their market was has helped.

[Mark in Oshawa]

My question regarding a takeover by NASCAR/France Family et al, would be this...

Is the IRL making money? If not, they'd have to hold the strong belief that not only would the IRL make money under their leadership, but profit growth would continue to increase for the foreseable future.

If owning the IRL wouldn't make money for NASCAR, then why would they bother with it?
The IRL hasn't made money since it started. AT least, that is the going theory. If if had, Tony wouldn't be on the outside looking in.

The reason we can discuss the IRL being sold off is because of the value of the series is to basically give Mari Hulman a buck, a seat on the board and assume the debts. If Tony had made money, we are not having any of these depressing threads.

[speeddurango]

I hardly see any passion of his for the sport in his dark sad eyes.

[garyshell]

One good reason they wont, the anti-trust/monopoly provisions of US law.

That hasn't stopped the France family ISC NASCAR triumvirate thus far.

Gary

[garyshell]

Continuing to blame "the split" for why Indy Car Racing is a dead entity is tiring and disenginous. It obviously didn't help things, but in reality all it did was speed up the eventual death that was coming. NASCAR was still going to blow them away, whether there was one or two series.

So sayeth Nostradamus. Hear his word and be thou humble. Yawn...


Continuing to blame "the split" for why Indy Car Racing is a dead entity is tiring and disenginous.

What is most tiring is the continuous pontificating.

Gary

[Wilf]

So sayeth Nostradamus. Hear his word and be thou humble. Yawn...



What is most tiring is the continuous pontificating.

Gary

Anybody talked to Joie Chitwood lately?

[Jonesi]

but he does own a certain percentage of the speedway....20-25%(total speculation on my part)....
who to say he wouldn't/couldn't contribute that equity to a partnership group to get it done
*im not saying thats whats happening, only throwing it out as a possibilty for for discussion
**also, while not on the board, does he not technically still own a share of the IRL

The "other side" of that speculation would be: He may well have had to borrow against his share of series & track to keep things going "until CC went away and everything will be fine again", and now that the family has called in his markers, he no longer has a share of anything.

[Lousada]

The France's and Smith's are astute business-people.

This would be the PERFECT time to take over Indy Car Racing. Its at the bottom of the barrel. It can't go anywhere but up. Its value is at its lowest point ever. The people in charge of IMS and IRL could care less about racing and want to dump it ASAP to a group that is stable and financially viable.


You are optimistic. I've been seeing "the bottom of the barrel" for years now, and every year it still somehow gets worse. I see not a single reason why interest should go up this season, or the next.



This isn't as far-fetched as it might sound. And without something like this happening, the real possibility exists that Indy Car Racing will be dead and the Indy 500 eventually becoming a "stand alone" event in the very near future.

What business man has 300-600 million to burn and a 14-year timeframe? This is probably the worst time to jump in, as the current formula is dead and boring. A revolution is needed, but a buyer will have to bleed another two years before he can start building again. By then all the teams, sponsors and interesting drivers will have bolted.
The only thing I see happening now, outside a nascar buyout, is something like the Le Mans Series. One big stand-alone event and a low-key racing series with 5 races or so. A purely competitor orientated series were people are allowed to watch but are not encouraged.

[Lee Roy]

The France's and Smith's are astute business-people.


Which is why they wouldn't want the Indy Car series. Face it, the only thing the Hulman/George family have that's worth wanting is IMS, but IMS sucks as a NASCAR track. And the vaunted Indy 500 only gets TV ratings that are around the same neighborhood as a stock car race at a half-mile track in the mountains of Tennessee.

[Lee Roy]

One good reason they wont, the anti-trust/monopoly provisions of US law.


That's what everyone was saying about the Kentucky case. Turned out the judge didn't think so.

[Mark in Oshawa]

That's what everyone was saying about the Kentucky case. Turned out the judge didn't think so.

IN the case of Kentucky, that was a silly idea as it turns out. On the surface it sounded good but when people think about it, there isn't a chance in hell. THere is no anti-trust. No race track automatically gets a date in any series just because it is built, and the courts reflect it.

No, if the Frances and NASCAR (not quite the same thing but sorta) took over the IRL, then the anti trust would come from owning all the major league racing series racing on ovals in America. It likely wouldn't be contested, but I don't think the France family has an interest in the IRL at all. If they did, they would have helped Tony out a little more I think....

[Chris R]

And it might take being aligned with NASCAR, to keep it afloat and actually grow the sport again.

If NASCAR does to AOWR what it did with Grand-AM I'd rather it be put out of its misery for good.... I know AOWR has been terribly mis-managed in recent years and the split did not help matters one bit.

Unfortunately, I do not think any of the people you mentioned at the solution,and indeed they were part of the problem....

If the IRL cannot find it's way (and I am not sure it can) - AOWR is likely dead.... and as sad as that would be, it beats some convoluted "indycar" version of the Grand-Am concept......

[Mark in Oshawa]

If NASCAR does to AOWR what it did with Grand-AM I'd rather it be put out of its misery for good.... I know AOWR has been terribly mis-managed in recent years and the split did not help matters one bit.

Unfortunately, I do not think any of the people you mentioned at the solution,and indeed they were part of the problem....

If the IRL cannot find it's way (and I am not sure it can) - AOWR is likely dead.... and as sad as that would be, it beats some convoluted "indycar" version of the Grand-Am concept......

Good points. I look at Grand AM, which in spite of its arm's length early relationship with ISC and NASCAR, was always more or less in their circle of influence as a failure in the marketplace. The racing itself got better and has been fun to watch at times, but Grand AM has never been a stand alone success in the same way the IRL or ALMS even has been. So for anyone to advocate that if NASCAR took over the IRL, good time would follow is just silly. NASCAR is VERY good at what they do, that is run stock car racing. Any time they have tried to be more than that, they haven't a great track record.

Oh yes...and Scott, I said it before, none of the names you mentioned who HAD some say in the IRL in the past will help it now, any more than Andrew Craig or Joe Heitzler would. What is needed is a smart leader who understands that this battle has to be fought over the next 5 years. This wont be fixed over night, and it wont be fixed by easy solutions ( all ovals or all road/street tracks) and spec racing like rules. It will take a new car, a new marketing effort, and a style of racing that will allow people to RACE...

[garyshell]

IN the case of Kentucky, that was a silly idea as it turns out. On the surface it sounded good but when people think about it, there isn't a chance in hell. THere is no anti-trust. No race track automatically gets a date in any series just because it is built, and the courts reflect it.

The case was not about the track automatically getting it because it was built. There were assurances (off the record) from NASCAR before the track was built that a cup date would be available if a proper track was built. These guys didn't plunk down that much cash purely on speculation Jerry Carrol is not that stupid. But when it didn't happen, the owners group got a bit shall we say pissed. Knowing the off the record assurances were worthless, they decided to attack the fact that NASCAR, the France Family and ISC were making sure the ISC tracks got preferential treatment. And I think there was real merit to that.

Gary

[Mark in Oshawa]

The case was not about the track automatically getting it because it was built. There were assurances (off the record) from NASCAR before the track was built that a cup date would be available if a proper track was built. These guys didn't plunk down that much cash purely on speculation Jerry Carrol is not that stupid. But when it didn't happen, the owners group got a bit shall we say pissed. Knowing the off the record assurances were worthless, they decided to attack the fact that NASCAR, the France Family and ISC were making sure the ISC tracks got preferential treatment. And I think there was real merit to that.

Gary

Oh I don't doubt ISC tracks do get somewhat better treatment, but NASCAR isn't a public trust. NASCAR is a private company and can do what they like. What Carroll and his buddys are doing is no different than Bridgestone suing GM for not putting their tires on their cars, even tho someone in GM might have said over dinner to a Bridgestone director they could some day. It is all heresay, and it doesn't matter in the court of law.

The fact ISC gets their dates and Kentucky or Bruton Smith doesn't is immaterial. There is no law stopping Carroll or Smith from starting their own stock car series, and there is nothing NASCAR has said that would stop such a series. What is more, Kentucky can find other series to race there and HAS. It isn't NASCAR's fault that the IRL and ARCA are not as big of draw's either.


THAT is the point. You cannot call for a restraint of trade or monopoly issue under anti-trust if there are alternatives out there.

[rabf1]

He tried something big. He had a vision. It turned out that he bungled everything beyond belief and that his vision was hopelessly flawed and misguided. He needs to fade into oblivion. His legacy is that he had the single greatest negative impact on open wheel racing of any person ever in the history of the world.

[Mark in Oshawa]

He tried something big. He had a vision. It turned out that he bungled everything beyond belief and that his vision was hopelessly flawed and misguided. He needs to fade into oblivion. His legacy is that he had the single greatest negative impact on open wheel racing of any person ever in the history of the world.

That is harsh in a world where people like Andrew Craig and Max Mosely live.....

[rabf1]

Formula 1 has tens of millions of people worlwide watching each race. Indycar has about 200,000. In 1994 Indycar was the most popular form of racing in the USA and F1 was afraid. 15 years later due to Tony George implementing his vision, Indycar has about 200,000 people who watch their races on an obscure tv channel. His failure, and the destruction of an entire sport he caused, is unprecedented in magnitude.

[EagleEye]

TONY GEORGE RESIGNS BOARD MEMBERSHIPS
OF INDIANAPOLIS MOTOR SPEEDWAY, HULMAN & COMPANY

INDIANAPOLIS, Tuesday, Jan. 19, 2010 – The Board of Directors of Hulman & Company and affiliated companies, including the Indianapolis Motor Speedway, has received the resignation of Anton H. “Tony” George from the board of directors effective immediately, according to Mari Hulman George, chairman.

“As members of his family, we are sorry to see Tony leave,” said Mrs. George. “We are grateful for his service to our company as a board member and of course for formerly serving as CEO and president of our companies. I speak for our whole family in wishing him well.

“All of us had hoped that Tony would continue to serve on the board, and we made that clear to him. We are disappointed with his decision to step down despite our wishes.”

His resignation removes George from any remaining role in Hulman & Company, Indianapolis Motor Speedway, Indy Racing League, IMS Productions and other affiliated companies. His term as CEO of the family companies ended June 30, 2009. He continues to be involved in racing through his ownership of Vision Racing, a competitor in the IZOD IndyCar Series of the Indy Racing League.

The board vacancy will be addressed at a later date. In addition to Mari Hulman George, board members include Nancy George, Josie George, Kathi George-Conforti and Jack Snyder.

Mari Hulman George said she is very pleased with the direction of the company and the progress that has been made during the last six months.

“Our company is healthy and is weathering the economic recession well,” she said. “Jeff Belskus, president and CEO of the Indianapolis Motor Speedway, and Curt Brighton, president and CEO of Hulman & Company, are both doing excellent jobs in guiding our companies through this difficult time. Many hard decisions have been made, and now our companies are well positioned for the future.”




*^ the above is a cut and paste from another forum......not sure where it was published

His being ousted back then would have prevented the devastation he created back then. Indianapolis would have remained the capital of motorsports, instead of Charlotte.

[Lee Roy]

In 1994 Indycar was the most popular form of racing in the USA . . .

No it wasn't.

[SarahFan]

No it wasn't.

true.....but there is no denying it was in a heck of a lot better place than it is today

[Lee Roy]

true.....but there is no denying it was in a heck of a lot better place than it is today

No doubting that. I was always sorry that the first CART race I went to was in 1995.

[Mark in Oshawa]

No doubting that. I was always sorry that the first CART race I went to was in 1995.


You were there about a year or so after the crest of the wave. It should have been a shallow trough as Tony George realized the damage he would do to the sport...but alas, that didn't happen.

If CART wasn't the most popular form of motorsport in 95, it was the second. Now it is lucky to be 5th or 6th, and the drop off from the top 3 NASCAR divisions to everyone else is large in terms of TV ratings