(by John Oreovicz espn.go.com 7-24-16)
Just how tedious was the 23rd annual Brickyard 400?
The most intriguing story coming out of Indianapolis Motor Speedway on Sunday for people who follow racing was the public confirmation that Tony George was quietly named chairman of the board of the speedway, in addition to its parent company, Hulman & Co., some four months ago.
Sure, there was Indy's 160-lap NASCAR Sprint Cup Series race -- actually, make that 170, thanks to a series of overtime crashes -- which to the surprise of no one was dominated by Kyle Busch and the Joe Gibbs Racing Toyotas.
Busch swept the Indianapolis weekend for the second year in a row, winning the Xfinity Series Lilly Diabetes 250 on Saturday as a warm-up to his triumph in the main show.
His mastery of IMS was even more convincing this year, as he won from pole position in both races and led 149 laps on Sunday.
With the race itself an unwatchable dud, hopes that Jeff Gordon's temporary comeback or local hero Tony Stewart's final Brickyard start would provide compelling storylines fell flat.
Gordon's return to replace the injured Dale Earnhardt Jr. fizzled out, with the No. 88 car never showing strongly all afternoon and taking a quiet 13th place. And Stewart's recent return to his old form was blunted Sunday by a pit lane speeding violation that relegated the hometown hero to 11th at the flag.
That made George's ascension to the chairman's seat of his family's companies the biggest story of the day, marking a comeback that rivals any we've ever seen on the executive side of the sport.
The news broke in unorthodox fashion. George was voted into the chairman roles during Hulman & Co.'s annual meeting in March, but there was no public confirmation of the change until he was introduced as the IMS chairman over the Speedway's public address system when he stepped out to give the command to start engines for Sunday's race.
Talk about a private company that really keeps things private.
Now 56, George was named president of Indianapolis Motor Speedway in 1989 when he was just 29 years old, kicking off a turbulent 20-year run.
During his tenure, George brought NASCAR to Indianapolis with the first Brickyard 400 in 1994, and he also built a road course in the IMS infield that hosted the Formula One United States Grand Prix from 2000-07.
But George is more famous (or infamous) for creating the Indy Racing League and using the Indianapolis 500 as a bargaining chip in the quest to take control of Indy car racing from CART. The 13-year civil war between the two Indy car series from 1996-2008 caused huge damage to the sport, which it still continues to recover from.
After Indy car racing was unified as the IndyCar Series under Hulman &. Co leadership, George resigned as the league's CEO in 2009, and he relinquished his board roles in 2011. He was reinstated to the IMS and Hulman & Co. boards in 2013; with his 82-year-old mother Mari Hulman-George in failing health, his recent ascension to the chairman role doesn't come as a surprise. Just family business.
Still, the fact that Hulman & Co. chose not to publicize the move indicates they understand the perception of putting George back in charge still carries some public relations baggage with longtime Indy car fans -- even though as the board chairman, he will have little or no influence on the company's day-to-day operations.
Critics should not lose sight of the fact that while TG takes most of the blame for what has happened to Indy car racing over the past 20-plus years, many of the things that he did were positive for the speedway.
The Brickyard 400 was a huge success for the first half of its 23-year existence, and it still remains a moneymaker for IMS. The F1 race and a subsequent Moto GP event on the road course delivered a new audience to the famous old oval.
George was also the driving force behind the creation of one of the most important safety innovations in the history of oval racing -- the SAFER Barrier, with IMS commissioning and financing its development.
With the Brickyard 400 a total snoozefest, perhaps it was a stroke of genius for IMS to release news of George's promotion on a day when the track was otherwise generating negative headlines due to the poor quality of racing.
If it isn't clearly obvious by now, NASCAR stock cars are simply not compatible with the Brickyard oval. The unique single-groove track, with long straights and four low-banked 90-degree corners, just sets up for boring, single-file running.
Add in a 110-degree heat index like we had on Sunday, and it's no wonder the Brickyard struggles to attract 50,000 fans these days when it was a 250,000-plus sellout in the early years.
It's still a profitable event for IMS, but with all those empty seats, it's also a bit of an embarrassment to the grand old track.
As the chairman of the board, it's not Tony George's responsibility to fix the Brickyard 400 -- that job falls to Hulman Motorsports CEO Mark Miles and IMS president Doug Boles, among others.
But you can bet your bottom dollar that he's going to be paying close attention to whatever solutions they come up with.
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http://www.espn.com/racing/nascar/cup/story/_/id/17136388/nascar-tony-george-big-news-another-dreadful-brickyard-bore-fest
Showing posts with label the fall of tony george. Show all posts
Showing posts with label the fall of tony george. Show all posts
Saturday, August 6, 2016
Thursday, November 15, 2012
Tony George resigns from board
(espn.go.com 10-22-12)
IndyCar founder Tony George resigned Friday from the Hulman & Co. board of directors, citing a conflict of interest in his recent attempt to reacquire the series.
"I realize that my recent efforts to explore the possibility of acquiring IndyCar represent the appearance of a conflict, and it is in everyone's best interest that I resign," George said in a statement. "It goes without saying that I want to do what is best for this organization."
IndyCar is owned by the Hulman-George family, which has owned Indianapolis Motor Speedway since 1945. The series is governed by the Hulman & Co. board of directors, which is at 10 members after George's resignation.
Among those still on the board are his mother, Mari Hulman George, and his sisters, Nancy L. George, M. Josephine George and Katherine M. George-Conforti. Hulman & Co., through president and CEO Jeff Belskus, reiterated Friday that IndyCar is not for sale.
George had been rumored for months to be trying to take back control of the series he founded in 1996 and oust current CEO Randy Bernard, and he reportedly submitted a purchase proposal last week.
"Tony George has made the difficult decision to resign from the board because of his involvement with a group that has recently expressed an interest in purchasing the Hulman & Co.-owned IndyCar organization," Belskus said. "While the business is not for sale and no offers to sell it have been considered or are being considered, we applaud Tony's efforts to resolve the appearance of a conflict and appreciate the gravity of this decision."
George was ousted as CEO of IndyCar by his mother and sisters in 2009. He also resigned his spot on the board of directors, but rejoined in 2011. He was president of Indianapolis Motor Speedway from 1990-2004, and was CEO of IMS from 1990-2009.
Belskus said there is no immediate plan to fill George's vacancy on the board. George is a co-owner with his stepson, driver Ed Carpenter, of IndyCar team Ed Carpenter Racing.
"Tony has been involved with our businesses for many years and has contributed significantly through his leadership role with IMS and IndyCar and as a member of this board," Belskus said. "We wish Tony much success in the future."
IndyCar founder Tony George resigned Friday from the Hulman & Co. board of directors, citing a conflict of interest in his recent attempt to reacquire the series.
"I realize that my recent efforts to explore the possibility of acquiring IndyCar represent the appearance of a conflict, and it is in everyone's best interest that I resign," George said in a statement. "It goes without saying that I want to do what is best for this organization."
IndyCar is owned by the Hulman-George family, which has owned Indianapolis Motor Speedway since 1945. The series is governed by the Hulman & Co. board of directors, which is at 10 members after George's resignation.
Among those still on the board are his mother, Mari Hulman George, and his sisters, Nancy L. George, M. Josephine George and Katherine M. George-Conforti. Hulman & Co., through president and CEO Jeff Belskus, reiterated Friday that IndyCar is not for sale.
George had been rumored for months to be trying to take back control of the series he founded in 1996 and oust current CEO Randy Bernard, and he reportedly submitted a purchase proposal last week.
"Tony George has made the difficult decision to resign from the board because of his involvement with a group that has recently expressed an interest in purchasing the Hulman & Co.-owned IndyCar organization," Belskus said. "While the business is not for sale and no offers to sell it have been considered or are being considered, we applaud Tony's efforts to resolve the appearance of a conflict and appreciate the gravity of this decision."
George was ousted as CEO of IndyCar by his mother and sisters in 2009. He also resigned his spot on the board of directors, but rejoined in 2011. He was president of Indianapolis Motor Speedway from 1990-2004, and was CEO of IMS from 1990-2009.
Belskus said there is no immediate plan to fill George's vacancy on the board. George is a co-owner with his stepson, driver Ed Carpenter, of IndyCar team Ed Carpenter Racing.
"Tony has been involved with our businesses for many years and has contributed significantly through his leadership role with IMS and IndyCar and as a member of this board," Belskus said. "We wish Tony much success in the future."
Tony George leads offer for IndyCar Series
(by Tripp Mickle sportsbusinessdaily.com 10-1-12)
The board of Hulman & Co., owners of the IndyCar Series, is weighing an acquisition proposal for the open-wheel-racing operation, according to people familiar with the matter.
Former IndyCar Series CEO Tony George has put together an investor group that includes some of the sport’s top team owners — Chip Ganassi, Roger Penske, Michael Andretti and Kevin Kalkhoven — as well as motorsports marketer Zak Brown that recently proposed the board sell them the IndyCar Series. The group has hired the Midwest-based law firm Faegre Baker Daniels and begun a financial due diligence evaluation of the series.
It’s unclear what the George-led group offered the board, but sources said that the group would take over management of IndyCar, which operated at a loss this year, and assume any debt on its books.
Hulman & Co. would retain its majority ownership of Indianapolis Motor Speedway and continue to run IndyCar’s Indy 500 and NASCAR’s Brickyard 400 races. It also could opt to take a minority stake in the IndyCar Series during the negotiations.
George declined to confirm or deny that he had engaged Faegre Baker Daniels or put together a group of investors. He described the “premise” as “inaccurate.”
Ganassi, Penske, Andretti, Kalkhoven and Brown did not return calls seeking comment. Hulman & Co. CEO Jeff Belskus was out of the country last week and could not be reached for comment. An IMS spokesman said the board has a policy of not commenting on board meetings.
It is the second time in less than four years that George, who ran the IndyCar Series when it was called Indy Racing League and is a member of the Hulman & Co. board, has put together a group to take over the series. The first time reportedly was in 2010.
The board was told that Brown, who founded the Indianapolis-based motorsports agency Just Marketing International, would lead the series’ management team if George’s group is successful. It’s unclear how that would work. Brown is still the CEO of JMI, which has built an international operation around Formula One in recent years and continues to work domestically with sponsors of NASCAR and IndyCar. The agency’s investors include Spire Capital and WPP.
If Brown didn’t take the job, sources said the Hulman board discussed the possibility that the group could
hire John Lopes, Andretti Autosport’s executive vice president and chief operating officer. Another logical candidate would be Joie Chitwood III, Daytona International Speedway’s president who was the chief operating officer at Indianapolis Motor Speedway for seven years at a time when George was the speedway’s CEO.
Sources familiar with the Hulman & Co. board said the final decision on selling the IndyCar Series will be made by Mari Hulman George, 77, the board’s chairwoman. She controls the majority of the voting interest in the company. The 11-member board also includes her four children — Nancy L. George, M. Josephine George, Katherine M. George-Conforti and Tony George — and six local businessmen, who serve in an advisory role.
The takeover proposal comes four years after the Indy Racing League and Champ Car merged, ending 12 years of a split among the two American open-wheel racing series. George brokered that deal in 2008 and paid $40 million to create a unified IndyCar Series. He resigned a year later after the series fell under financial pressure in the wake of the recession. Randy Bernard, the former head of Professional Bull Riders, replaced him in 2010.
IndyCar is coming off a difficult season. The series experienced double-digit decreases in TV viewership, had a race in China canceled and began searching for a presenting sponsor that potentially could replace its title sponsor, Izod, before the apparel brand’s deal ends after the 2015 season. That came on the heels of popular driver Dan Wheldon being killed in the 2011 season finale and Danica Patrick moving full time to NASCAR this year.
Bernard met with the Hulman & Co. board on the same day that the George-led group’s takeover proposal was presented. He was scheduled to announce the series’ 2013 schedule Sunday and is trying to expand its number of races from 15 to 19 next season.
The board of Hulman & Co., owners of the IndyCar Series, is weighing an acquisition proposal for the open-wheel-racing operation, according to people familiar with the matter.
Former IndyCar Series CEO Tony George has put together an investor group that includes some of the sport’s top team owners — Chip Ganassi, Roger Penske, Michael Andretti and Kevin Kalkhoven — as well as motorsports marketer Zak Brown that recently proposed the board sell them the IndyCar Series. The group has hired the Midwest-based law firm Faegre Baker Daniels and begun a financial due diligence evaluation of the series.
It’s unclear what the George-led group offered the board, but sources said that the group would take over management of IndyCar, which operated at a loss this year, and assume any debt on its books.
Hulman & Co. would retain its majority ownership of Indianapolis Motor Speedway and continue to run IndyCar’s Indy 500 and NASCAR’s Brickyard 400 races. It also could opt to take a minority stake in the IndyCar Series during the negotiations.
George declined to confirm or deny that he had engaged Faegre Baker Daniels or put together a group of investors. He described the “premise” as “inaccurate.”
Ganassi, Penske, Andretti, Kalkhoven and Brown did not return calls seeking comment. Hulman & Co. CEO Jeff Belskus was out of the country last week and could not be reached for comment. An IMS spokesman said the board has a policy of not commenting on board meetings.
It is the second time in less than four years that George, who ran the IndyCar Series when it was called Indy Racing League and is a member of the Hulman & Co. board, has put together a group to take over the series. The first time reportedly was in 2010.
The board was told that Brown, who founded the Indianapolis-based motorsports agency Just Marketing International, would lead the series’ management team if George’s group is successful. It’s unclear how that would work. Brown is still the CEO of JMI, which has built an international operation around Formula One in recent years and continues to work domestically with sponsors of NASCAR and IndyCar. The agency’s investors include Spire Capital and WPP.
If Brown didn’t take the job, sources said the Hulman board discussed the possibility that the group could
hire John Lopes, Andretti Autosport’s executive vice president and chief operating officer. Another logical candidate would be Joie Chitwood III, Daytona International Speedway’s president who was the chief operating officer at Indianapolis Motor Speedway for seven years at a time when George was the speedway’s CEO.
Sources familiar with the Hulman & Co. board said the final decision on selling the IndyCar Series will be made by Mari Hulman George, 77, the board’s chairwoman. She controls the majority of the voting interest in the company. The 11-member board also includes her four children — Nancy L. George, M. Josephine George, Katherine M. George-Conforti and Tony George — and six local businessmen, who serve in an advisory role.
The takeover proposal comes four years after the Indy Racing League and Champ Car merged, ending 12 years of a split among the two American open-wheel racing series. George brokered that deal in 2008 and paid $40 million to create a unified IndyCar Series. He resigned a year later after the series fell under financial pressure in the wake of the recession. Randy Bernard, the former head of Professional Bull Riders, replaced him in 2010.
IndyCar is coming off a difficult season. The series experienced double-digit decreases in TV viewership, had a race in China canceled and began searching for a presenting sponsor that potentially could replace its title sponsor, Izod, before the apparel brand’s deal ends after the 2015 season. That came on the heels of popular driver Dan Wheldon being killed in the 2011 season finale and Danica Patrick moving full time to NASCAR this year.
Bernard met with the Hulman & Co. board on the same day that the George-led group’s takeover proposal was presented. He was scheduled to announce the series’ 2013 schedule Sunday and is trying to expand its number of races from 15 to 19 next season.
Monday, June 20, 2011
Exclusive: Tony George, Former IndyCar CEO, Speaks Out
(by Holly Cain aolnews.com 5-4-10)
In his first in-depth interview since his June 30, 2009 dismissal as CEO of Indianapolis Motor Speedway and his subsequent resignations from the Hulman & Co. board of directors and as CEO of the Indy Racing League he founded, Tony George tells FanHouse how he's spent the past few months and how he is adjusting to his new roles in business, racing and family.
INDIANAPOLIS -- When Tony George resigned from the Indy Racing League in January, it came at a time, he says, when "there was still too much to do that I wanted to see through."
The former leader of American open wheel racing tells FanHouse of how difficult it was to give up the leadership of the IRL, the organization that he started. He calls accusations that he brought financial hardship to the IRL "wildly inaccurate," and says he "spent a lot less that it would have taken" to buy a professional sports team.
He talks of his love for IndyCar racing and tells of how he caught a pre-dawn commercial flight to
St. Petersburg, Fla., just after returning from a business trip in China, in an effort to catch the race
there in person.
In this first of two parts, George explains what he thinks is "the best thing that's happened for
Danica" this season and also predicts a 2010 breakout star. And the answers may surprise you.
George officially resigned from the IRL on his 50th birthday, Dec. 30, and when he returns to The
Speedway for the May 30 Indianapolis 500, his only responsibility, for the first time in his life,
will be that of team owner.
Through weeks of phone calls, a sit-down interview at George's Indianapolis-based Vision Racing
team headquarters, and pages of thoughtful written replies to questions, George discusses a wide
range of topics with senior writer Holly Cain.
One of the most significant -- and controversial -- figures in American motorsports during the
past 20 years, George is now eager to set the racing record straight in a lengthy and comprehensive interview that will be presented in two parts Tuesday and Wednesday:
Holly Cain: Did you ever, ever expect that you would not be an integral part of the series you formed? Or the Speedway?
Tony George: In a word, no.
But having said that, I did expect I would reduce my role with both and work on transitioning members of the family into leadership positions. In fact, in March of 2009, (March 17, 18, and 19 to be exact), I organized an initial meeting with an executive leadership consultant that I had worked with previously, to begin working with my son and nephew, both of whom were working in the business.
I have said it before; I would be less than honest if I didn't admit to thinking of winding down the day-to-day workload after realizing unification, but not that soon and not that way. There was still too much to do that I wanted to see through.
HC: What tops that list of things you feel are unfinished business?
TG: I clearly had in mind to see the (Indianapolis Motor Speedway's) Centennial through and all that went with it.
HC: How difficult has it been to turn over "your baby" -- the IRL -- to someone else to run? Could you explain your decision?
TG: It has been very difficult; my decision to not accept the offer to remain as CEO of the league was based on a number of things. Chief among them my belief that Terry (Angstadt, president, IRL commercial division) had done a very good job the last couple of years, at a time when everyone seemed to have an opinion as to what kind of person was needed as CEO to make the IRL successful. He was capable and deserving of assuming the responsibility. In my opinion, he has provided quality leadership as we turned the corner and had us headed in the right direction.
HC: Have you been paying close attention to the IRL season? Your thoughts?
TG: I have been paying close attention from afar, which has been somewhat bittersweet. I have officially fallen from the ranks of those who have attended every IRL race since 1996. ... less than a handful remain.
I missed (season-opener) Brazil and Barber (Motorsports Park in Alabama) but was able to take in St. Pete when it was postponed. I had just returned home Sunday night about 10 p.m. from a trip to China and decided to catch a 5:20 a.m. flight to Tampa in hopes of getting there in time for the 10 a.m. start.
Airport delays caused me to arrive well into the race, but it was good to be back at the track.
It has certainly been an interesting start to the season with Will Power getting off to such a strong start. Having said that, it promises to be a very competitive season, I just wish Vision could have been a part of it from the commencement in Sao Paulo.
With some driver-team seat swaps and new players in both ranks, it is nice to see new faces in new places. This will be a breakout year for someone (I predict Marco Andretti).
So far this year, the best thing that has happened to Danica has been she picked up the best motor coach driver in the business, who became available after being let go by IMS at the end of the 2009 season.
Likewise, the Firestone Indy Lights Series has seen some interesting shake up. It is another good field of drivers this year. Although fewer in numbers, it should be very competitive. We (Vision Racing) miss being involved in this series too. I feel like we put forth a great effort last year which not only gave us our first win as an organization but it was a source of pride that helped us all pull together. I am glad to see the ladder program get implemented this season too. It should be a tremendous benefit to the future development of the League.
IZOD coming on board as the title sponsor of the ICS has been wonderful as it has really helped create more team sponsorship and a sense that the series represents a place of opportunity.
I know they will use their position of influence and space to advance the interest of the entire series and not just the interest of one team or one driver; however, securing the long-term future of Ryan Hunter-Reay is important. Allen Sirkin and Mike Kelly have led from the top and that makes all the difference in the world.
HC: What are some of your proudest accomplishments during your 20-year tenure with the Speedway and in founding the Indy Racing League in 1994?
TG: I'm proud of our leadership in investments in the safety of the sport. I am proud of the Hulman Family's commitment to community and philanthropy.
Obviously, once the decision was made to expand our racing events at the Speedway, being a part of bringing world-class events like the Brickyard 400, MotoGP and F1 USGP to fruition; but with that said, the IRL for sure. It has so much potential and it truly is who we are, we can influence its direction; build it as a brand leveraging both the IMS and the 500 for which it exists.
Much has been speculated, wildly inaccurate, about how much was spent to build the IRL. I am proud that we have spent a lot less than it would have taken to buy a professional sports team in the NFL, MLB, NBA or even the NHL -- and we own the whole league.
The IRL is a fantastic asset both financially and strategically. I'm proud of that.
HC: Do you have any regrets?
TG: With the benefit of hindsight, there are things anyone would do differently given the chance, but regrets? Not so much.
Staying more involved with the day-to-day at the Speedway is something I definitely should have done. Off-loading that responsibility was a mistake.
As an organization, we should have addressed the need to restructure sooner; we had gotten fat and complacent. Some saw the need and potential benefit of trying to streamline some of the functions within the enterprise, while others saw it as a threat. In the end, much of it has now occurred but it was forced.
If I have any regret, it would be that we lost some very good, loyal people who could have had a positive impact on the organization going forward, but they left as a result of the uncertainty or the handling of the restructuring as it occurred.
One other thing that I have regretted is about the timing of my dismissal; that it occurred right in the middle of the season, just as we had the momentum of the Speedway's "Centennial Era" celebration. It took the bright light that should have shone on our company's history, the participation and valuable investments by our sponsorship community, and cast a dismal shadow over it.
HC: Who have you heard from within the industry in the months since you formally resigned? Who has reached out and what have they said.?
TG: I have heard from many people within the industry, within the city, the state, the globe, you name it. I don't feel that it would be appropriate to name people, but they have reached out by letter, e-mail, phone call, voice mail; they stop me on the street, in airports, at church.
I have been genuinely humbled and grateful for the sincere interest and love from so many people.
Most (people) genuinely can't believe it, don't understand it; then there are those that do believe it and do understand it. Everyone wants to know what I will be doing next; will I keep the team, will I stay in racing or will I stay in the city, the state?
HC: How have you been spending your time since, most recently, resigning your position in the Indy Racing League?
TG: The next day (resigning from the IRL), New Year's Eve, Laura and I boarded Amtrak for a New Year's trip to Montana. It was our first trip on a train together and we had a great time even though it was 25 below zero for most of the trip. After a few days out there we drove our Suburban home trying to out-run the first snow storm of the New Year that was headed from the Pacific Northwest toward Indiana. So that first week of being disconnected was quite an adventure.
Shortly after that we went on a planned ski trip to Austria with Kevin (Kalkhoven) and Kim for what turned out to be one of the most relaxing and enjoyable trips I can remember. I really appreciated spending time with someone I have enjoyed getting to know as a by-product of unification.
Since January I have continued to do quite a bit of traveling and most of it has been related to Vision Racing or future business development opportunities. Beyond the ski trip, not much of the travel has been for personal pleasure. I continue to seek an opportunity to restart our racing operation as soon as possible and that remains a priority and area of focus, in addition to other business interests.
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(by Holly Cain aolnews.com 5-5-10)
INDIANAPOLIS -- In part two of FanHouse's exclusive interview, Tony George discusses the state of the Indy Racing League and why he's not a big proponent of the new championship format.
He discusses the possibility of working in the family business again, the upcoming Indy 500 and whether his great gamble 16 years ago to form a second major American open-wheel series was all worth it in the end.
Holly Cain: What is the direction you'd like to see the IRL take in the future to be a successful racing organization? And did you have any input on hiring (new CEO) Randy Bernard?
Tony George: I will answer the second part of the question first. No, I did not. I had already resigned my position effective the end of the year.
I will tell you that Randy came highly recommended by the "Horse Whisperer" Chris Cox, a friend of my sister Josie and my mother. Randy was also known to a fellow rancher in the Wyoming valley Josie lives in. She has said she was looking for a racing outsider and she found one.
Now to answer the first part of the question; I do have thoughts on the direction I would like to see things go. I don't think it is appropriate for me to comment on that. I will say that, so far, not much has happened since my departure that has changed the current positive trajectory of the League. Most everything that has come together was already in the works, in large part due to (President of IRL Commercial Division) Terry's (Angstadt) leadership and efforts.
Over time, I am sure I will form opinions and express them on the future direction of this or that; and like everyone there will be those opinions that are shared or rejected by those in a position of influence.
Rest assured of one thing, there will always be important, political and emotionally charged issues to deal with and not everyone will always agree.
HC: What's your opinion on the new IZOD IndyCar Series championship format, which will now crown champions in both oval and road course disciplines in addition to an overall champion?
TG: I am not sure I understand the need for it; I know the concept was raised by others in the past, but I didn't think then and I don't believe now that we should bifurcate the series, or create sub‐champions to grow.
In my opinion, once we realized unification, what we needed were a couple of seasons to settle in and demonstrate leadership. That is what we committed to doing post unification.
HC: Generally speaking, how is your relationship with your family after such a difficult situation?
TG: Assuming you are referring to the relationship with my mother and sisters, generally I would have to admit that our conversations have been somewhat strained by our business disagreements; how could it not be?
As I said before, I truly love my family and nothing can change that, but we have a very different view of the future and approach to doing business.
HC: Is there any chance that you would resume a position either with the IRL or with The Speedway or another of your family's companies?
TG: I would absolutely love the opportunity to be involved again, but at this point that seems highly unlikely.
I am so excited and focused on the opportunities that Laura (his wife) and I have before us -- and realistically all these good things will keep us very busy for years to come. I have a renewed energy and vigor from this new chance to focus on my personal and immediate family's opportunities instead of dealing the challenges of leading a family enterprise.
Any family enterprise, with the size and breadth of holdings like our extended family, especially by the fourth or fifth generation, likely foments internal grasping and deceit that can come from a lifetime of deep-seated resentment and anger that only a family can inflict on each other.
This is so common in large family enterprises it is almost a cliche. This can be painful and damaging not only on the current generation, but also on spouses and children of the next generation. The bottom line is that I truly love my mom and sisters, but I am truly grateful and relieved to now get the opportunity to explore other ways to live the most productive years of my business life and attend to the needs of my own wife and children. [Ed. note: Tony and his mother, Mari Hulman George, pictured at right]
What Laura and I are trying to teach our children is that families need to realize that their most valuable assets are the ones that don't include financial holdings -- like relationships, shared values, shared history and experience, and a tradition of generosity with shared purpose and accomplishment that can impact our community with a lasting legacy.
HC: What does the future hold for you in the immediate and long-term? Will you go into business outside of racing?
TG: Some of the things I am exploring are automotive-related and to an extent will leverage racing. I mentioned SONAX earlier. SONAX is a car appearance product company -- like wax and other products to protect and detail a car. It is a very high-end, high-quality product and enjoys a huge market share and phenomenal consumer loyalty in Europe. It is distributed in 94 countries and I have secured the rights to distribute these products in the United States and the potential is enormous.
There are other opportunities that are too early in the development stages to elaborate on. Suffice it so say, I have seen many things come forth as a result of the relationships that I have built through the years and a few that have accelerated because I now have the time to focus on them.
HC: What are your hopes for Vision Racing and where does the team stand? Obviously some positive things are coming up in May (partnering for the Indy 500 with Panther Racing) and from what (Panther Racing owner) John Barnes indicated, possibly beyond that.
TG: Well, I mentioned trying to create options for Vision, let me tell you it has been quite a roller coaster ride since learning that Menards would not be back with us as our primary sponsor for the 2010 season. Starting over from scratch has proven difficult, but I just keep working at it.
Partnering with Panther for the 500 will allow the team to stay in the game to an extent, but we will have to see if that leads to anything else for 2010. For the most part, my focus has to be on creating that sustainability for the future, so realistically that would be 2011 and beyond.
There are some interesting challenges in trying to anticipate which direction to go. I have been a two-, three- and four-car team at times so I have accumulated a lot of stuff. I have been paring down recently, selling redundant assets to others.
If I am successful putting together a program for a multi-car team, then we can expand again easy enough with the proper funding in place. On the other hand, if we joint venture or shut down, I will have simplified greatly and it will make the transition easier. With the potential of new equipment as early as 2012, I don't want to have more obsolete stuff sitting around to figure out what to do with.
Recently we have had good spring garage sales both at home and work, that have provided a real sense of cleansing. Hopefully the clear direction will soon present itself and in the meantime, I look forward to the month of May and the Indianapolis 500.
HC: Your feelings about being at the Speedway for the first time in two decades not affiliated with the league or the speedway management, but as team owner?
TG: It will be different for sure, but I can't say exactly what my feelings are; I think I will have a better sense for my feelings after having experienced it.
I am not exactly going into the event viewing myself as even a car owner so much as just having an involvement. It might be splitting hairs, but if (Vision Racing driver) Ed (Carpenter) wins the race, it won't be recorded in the annals that Vision was the winning entrant.
If Ed wins the race or has another reasonably good result, I will enjoy great satisfaction for having had an involvement.
HC: Reflecting back in general, are there any misconceptions you'd like to set straight?
TG: Misconceptions are only a concern to those that hold them.
HC: Given all that you know now -- all that you have been through -- was it all worth it to form the Indy Racing League? And why?
TG: That is a very broad, open question and the only thing I can do is reiterate what I said earlier, but perhaps say it another way.
There is great value in the Indy Racing League; it exists to support the institutions of the Indianapolis Motor Speedway and the Indianapolis 500 Mile race; and I am proud of its contributions to the sport.
In his first in-depth interview since his June 30, 2009 dismissal as CEO of Indianapolis Motor Speedway and his subsequent resignations from the Hulman & Co. board of directors and as CEO of the Indy Racing League he founded, Tony George tells FanHouse how he's spent the past few months and how he is adjusting to his new roles in business, racing and family.
INDIANAPOLIS -- When Tony George resigned from the Indy Racing League in January, it came at a time, he says, when "there was still too much to do that I wanted to see through."
The former leader of American open wheel racing tells FanHouse of how difficult it was to give up the leadership of the IRL, the organization that he started. He calls accusations that he brought financial hardship to the IRL "wildly inaccurate," and says he "spent a lot less that it would have taken" to buy a professional sports team.
He talks of his love for IndyCar racing and tells of how he caught a pre-dawn commercial flight to
St. Petersburg, Fla., just after returning from a business trip in China, in an effort to catch the race
there in person.
In this first of two parts, George explains what he thinks is "the best thing that's happened for
Danica" this season and also predicts a 2010 breakout star. And the answers may surprise you.
George officially resigned from the IRL on his 50th birthday, Dec. 30, and when he returns to The
Speedway for the May 30 Indianapolis 500, his only responsibility, for the first time in his life,
will be that of team owner.
Through weeks of phone calls, a sit-down interview at George's Indianapolis-based Vision Racing
team headquarters, and pages of thoughtful written replies to questions, George discusses a wide
range of topics with senior writer Holly Cain.
One of the most significant -- and controversial -- figures in American motorsports during the
past 20 years, George is now eager to set the racing record straight in a lengthy and comprehensive interview that will be presented in two parts Tuesday and Wednesday:
Holly Cain: Did you ever, ever expect that you would not be an integral part of the series you formed? Or the Speedway?
Tony George: In a word, no.
But having said that, I did expect I would reduce my role with both and work on transitioning members of the family into leadership positions. In fact, in March of 2009, (March 17, 18, and 19 to be exact), I organized an initial meeting with an executive leadership consultant that I had worked with previously, to begin working with my son and nephew, both of whom were working in the business.
I have said it before; I would be less than honest if I didn't admit to thinking of winding down the day-to-day workload after realizing unification, but not that soon and not that way. There was still too much to do that I wanted to see through.
HC: What tops that list of things you feel are unfinished business?
TG: I clearly had in mind to see the (Indianapolis Motor Speedway's) Centennial through and all that went with it.
HC: How difficult has it been to turn over "your baby" -- the IRL -- to someone else to run? Could you explain your decision?
TG: It has been very difficult; my decision to not accept the offer to remain as CEO of the league was based on a number of things. Chief among them my belief that Terry (Angstadt, president, IRL commercial division) had done a very good job the last couple of years, at a time when everyone seemed to have an opinion as to what kind of person was needed as CEO to make the IRL successful. He was capable and deserving of assuming the responsibility. In my opinion, he has provided quality leadership as we turned the corner and had us headed in the right direction.
HC: Have you been paying close attention to the IRL season? Your thoughts?
TG: I have been paying close attention from afar, which has been somewhat bittersweet. I have officially fallen from the ranks of those who have attended every IRL race since 1996. ... less than a handful remain.
I missed (season-opener) Brazil and Barber (Motorsports Park in Alabama) but was able to take in St. Pete when it was postponed. I had just returned home Sunday night about 10 p.m. from a trip to China and decided to catch a 5:20 a.m. flight to Tampa in hopes of getting there in time for the 10 a.m. start.
Airport delays caused me to arrive well into the race, but it was good to be back at the track.
It has certainly been an interesting start to the season with Will Power getting off to such a strong start. Having said that, it promises to be a very competitive season, I just wish Vision could have been a part of it from the commencement in Sao Paulo.
With some driver-team seat swaps and new players in both ranks, it is nice to see new faces in new places. This will be a breakout year for someone (I predict Marco Andretti).
So far this year, the best thing that has happened to Danica has been she picked up the best motor coach driver in the business, who became available after being let go by IMS at the end of the 2009 season.
Likewise, the Firestone Indy Lights Series has seen some interesting shake up. It is another good field of drivers this year. Although fewer in numbers, it should be very competitive. We (Vision Racing) miss being involved in this series too. I feel like we put forth a great effort last year which not only gave us our first win as an organization but it was a source of pride that helped us all pull together. I am glad to see the ladder program get implemented this season too. It should be a tremendous benefit to the future development of the League.
IZOD coming on board as the title sponsor of the ICS has been wonderful as it has really helped create more team sponsorship and a sense that the series represents a place of opportunity.
I know they will use their position of influence and space to advance the interest of the entire series and not just the interest of one team or one driver; however, securing the long-term future of Ryan Hunter-Reay is important. Allen Sirkin and Mike Kelly have led from the top and that makes all the difference in the world.
HC: What are some of your proudest accomplishments during your 20-year tenure with the Speedway and in founding the Indy Racing League in 1994?
TG: I'm proud of our leadership in investments in the safety of the sport. I am proud of the Hulman Family's commitment to community and philanthropy.
Obviously, once the decision was made to expand our racing events at the Speedway, being a part of bringing world-class events like the Brickyard 400, MotoGP and F1 USGP to fruition; but with that said, the IRL for sure. It has so much potential and it truly is who we are, we can influence its direction; build it as a brand leveraging both the IMS and the 500 for which it exists.
Much has been speculated, wildly inaccurate, about how much was spent to build the IRL. I am proud that we have spent a lot less than it would have taken to buy a professional sports team in the NFL, MLB, NBA or even the NHL -- and we own the whole league.
The IRL is a fantastic asset both financially and strategically. I'm proud of that.
HC: Do you have any regrets?
TG: With the benefit of hindsight, there are things anyone would do differently given the chance, but regrets? Not so much.
Staying more involved with the day-to-day at the Speedway is something I definitely should have done. Off-loading that responsibility was a mistake.
As an organization, we should have addressed the need to restructure sooner; we had gotten fat and complacent. Some saw the need and potential benefit of trying to streamline some of the functions within the enterprise, while others saw it as a threat. In the end, much of it has now occurred but it was forced.
If I have any regret, it would be that we lost some very good, loyal people who could have had a positive impact on the organization going forward, but they left as a result of the uncertainty or the handling of the restructuring as it occurred.
One other thing that I have regretted is about the timing of my dismissal; that it occurred right in the middle of the season, just as we had the momentum of the Speedway's "Centennial Era" celebration. It took the bright light that should have shone on our company's history, the participation and valuable investments by our sponsorship community, and cast a dismal shadow over it.
HC: Who have you heard from within the industry in the months since you formally resigned? Who has reached out and what have they said.?
TG: I have heard from many people within the industry, within the city, the state, the globe, you name it. I don't feel that it would be appropriate to name people, but they have reached out by letter, e-mail, phone call, voice mail; they stop me on the street, in airports, at church.
I have been genuinely humbled and grateful for the sincere interest and love from so many people.
Most (people) genuinely can't believe it, don't understand it; then there are those that do believe it and do understand it. Everyone wants to know what I will be doing next; will I keep the team, will I stay in racing or will I stay in the city, the state?
HC: How have you been spending your time since, most recently, resigning your position in the Indy Racing League?
TG: The next day (resigning from the IRL), New Year's Eve, Laura and I boarded Amtrak for a New Year's trip to Montana. It was our first trip on a train together and we had a great time even though it was 25 below zero for most of the trip. After a few days out there we drove our Suburban home trying to out-run the first snow storm of the New Year that was headed from the Pacific Northwest toward Indiana. So that first week of being disconnected was quite an adventure.
Shortly after that we went on a planned ski trip to Austria with Kevin (Kalkhoven) and Kim for what turned out to be one of the most relaxing and enjoyable trips I can remember. I really appreciated spending time with someone I have enjoyed getting to know as a by-product of unification.
Since January I have continued to do quite a bit of traveling and most of it has been related to Vision Racing or future business development opportunities. Beyond the ski trip, not much of the travel has been for personal pleasure. I continue to seek an opportunity to restart our racing operation as soon as possible and that remains a priority and area of focus, in addition to other business interests.
--------------------
(by Holly Cain aolnews.com 5-5-10)
INDIANAPOLIS -- In part two of FanHouse's exclusive interview, Tony George discusses the state of the Indy Racing League and why he's not a big proponent of the new championship format.
He discusses the possibility of working in the family business again, the upcoming Indy 500 and whether his great gamble 16 years ago to form a second major American open-wheel series was all worth it in the end.
Holly Cain: What is the direction you'd like to see the IRL take in the future to be a successful racing organization? And did you have any input on hiring (new CEO) Randy Bernard?
Tony George: I will answer the second part of the question first. No, I did not. I had already resigned my position effective the end of the year.
I will tell you that Randy came highly recommended by the "Horse Whisperer" Chris Cox, a friend of my sister Josie and my mother. Randy was also known to a fellow rancher in the Wyoming valley Josie lives in. She has said she was looking for a racing outsider and she found one.
Now to answer the first part of the question; I do have thoughts on the direction I would like to see things go. I don't think it is appropriate for me to comment on that. I will say that, so far, not much has happened since my departure that has changed the current positive trajectory of the League. Most everything that has come together was already in the works, in large part due to (President of IRL Commercial Division) Terry's (Angstadt) leadership and efforts.
Over time, I am sure I will form opinions and express them on the future direction of this or that; and like everyone there will be those opinions that are shared or rejected by those in a position of influence.
Rest assured of one thing, there will always be important, political and emotionally charged issues to deal with and not everyone will always agree.
HC: What's your opinion on the new IZOD IndyCar Series championship format, which will now crown champions in both oval and road course disciplines in addition to an overall champion?
TG: I am not sure I understand the need for it; I know the concept was raised by others in the past, but I didn't think then and I don't believe now that we should bifurcate the series, or create sub‐champions to grow.
In my opinion, once we realized unification, what we needed were a couple of seasons to settle in and demonstrate leadership. That is what we committed to doing post unification.
HC: Generally speaking, how is your relationship with your family after such a difficult situation?
TG: Assuming you are referring to the relationship with my mother and sisters, generally I would have to admit that our conversations have been somewhat strained by our business disagreements; how could it not be?
As I said before, I truly love my family and nothing can change that, but we have a very different view of the future and approach to doing business.
HC: Is there any chance that you would resume a position either with the IRL or with The Speedway or another of your family's companies?
TG: I would absolutely love the opportunity to be involved again, but at this point that seems highly unlikely.
I am so excited and focused on the opportunities that Laura (his wife) and I have before us -- and realistically all these good things will keep us very busy for years to come. I have a renewed energy and vigor from this new chance to focus on my personal and immediate family's opportunities instead of dealing the challenges of leading a family enterprise.
Any family enterprise, with the size and breadth of holdings like our extended family, especially by the fourth or fifth generation, likely foments internal grasping and deceit that can come from a lifetime of deep-seated resentment and anger that only a family can inflict on each other.
This is so common in large family enterprises it is almost a cliche. This can be painful and damaging not only on the current generation, but also on spouses and children of the next generation. The bottom line is that I truly love my mom and sisters, but I am truly grateful and relieved to now get the opportunity to explore other ways to live the most productive years of my business life and attend to the needs of my own wife and children. [Ed. note: Tony and his mother, Mari Hulman George, pictured at right]
What Laura and I are trying to teach our children is that families need to realize that their most valuable assets are the ones that don't include financial holdings -- like relationships, shared values, shared history and experience, and a tradition of generosity with shared purpose and accomplishment that can impact our community with a lasting legacy.
HC: What does the future hold for you in the immediate and long-term? Will you go into business outside of racing?
TG: Some of the things I am exploring are automotive-related and to an extent will leverage racing. I mentioned SONAX earlier. SONAX is a car appearance product company -- like wax and other products to protect and detail a car. It is a very high-end, high-quality product and enjoys a huge market share and phenomenal consumer loyalty in Europe. It is distributed in 94 countries and I have secured the rights to distribute these products in the United States and the potential is enormous.
There are other opportunities that are too early in the development stages to elaborate on. Suffice it so say, I have seen many things come forth as a result of the relationships that I have built through the years and a few that have accelerated because I now have the time to focus on them.
HC: What are your hopes for Vision Racing and where does the team stand? Obviously some positive things are coming up in May (partnering for the Indy 500 with Panther Racing) and from what (Panther Racing owner) John Barnes indicated, possibly beyond that.
TG: Well, I mentioned trying to create options for Vision, let me tell you it has been quite a roller coaster ride since learning that Menards would not be back with us as our primary sponsor for the 2010 season. Starting over from scratch has proven difficult, but I just keep working at it.
Partnering with Panther for the 500 will allow the team to stay in the game to an extent, but we will have to see if that leads to anything else for 2010. For the most part, my focus has to be on creating that sustainability for the future, so realistically that would be 2011 and beyond.
There are some interesting challenges in trying to anticipate which direction to go. I have been a two-, three- and four-car team at times so I have accumulated a lot of stuff. I have been paring down recently, selling redundant assets to others.
If I am successful putting together a program for a multi-car team, then we can expand again easy enough with the proper funding in place. On the other hand, if we joint venture or shut down, I will have simplified greatly and it will make the transition easier. With the potential of new equipment as early as 2012, I don't want to have more obsolete stuff sitting around to figure out what to do with.
Recently we have had good spring garage sales both at home and work, that have provided a real sense of cleansing. Hopefully the clear direction will soon present itself and in the meantime, I look forward to the month of May and the Indianapolis 500.
HC: Your feelings about being at the Speedway for the first time in two decades not affiliated with the league or the speedway management, but as team owner?
TG: It will be different for sure, but I can't say exactly what my feelings are; I think I will have a better sense for my feelings after having experienced it.
I am not exactly going into the event viewing myself as even a car owner so much as just having an involvement. It might be splitting hairs, but if (Vision Racing driver) Ed (Carpenter) wins the race, it won't be recorded in the annals that Vision was the winning entrant.
If Ed wins the race or has another reasonably good result, I will enjoy great satisfaction for having had an involvement.
HC: Reflecting back in general, are there any misconceptions you'd like to set straight?
TG: Misconceptions are only a concern to those that hold them.
HC: Given all that you know now -- all that you have been through -- was it all worth it to form the Indy Racing League? And why?
TG: That is a very broad, open question and the only thing I can do is reiterate what I said earlier, but perhaps say it another way.
There is great value in the Indy Racing League; it exists to support the institutions of the Indianapolis Motor Speedway and the Indianapolis 500 Mile race; and I am proud of its contributions to the sport.
Friday, February 18, 2011
Tony George Reinstated To H&C Board
(speedtv.com 2-17-11)
Almost two years removed from his angry and abrupt departure, Tony George is back in the family business.
SPEED.com has learned that George has been reinstated on the board of directors of Hulman & Company, the umbrella that funds and administers the Indianapolis Motor Speedway, IZOD INDYCAR series and Clabber Girl Baking Powder.
It’s believed that Mari Hulman George, board chairwoman for Hulman & Company in addition to being chairman of the board at IMS, made the call to bring her son back into the fold.
It doesn’t appear that George’s re-emergence will immediately affect the day-to-day operation of INDYCAR or the Indianapolis 500, although he was known to have made an unsuccessful attempt last summer to purchase the series he started with a couple of investors.
George had served as Chief Executive Officer of Hulman & Company and the Speedway before resigning both positions on June 30, 2009 following what can best be described as a civil war among his siblings.
The only male child of Mari Hulman George and the namesake of IMS savior Anton Hulman, Tony had held those offices since 1989 and was replaced by a pair of longtime IMS loyalists -- Jeff Belskus and Curt Brighton.
Belskus, the chief financial officer for Hulman & Company for 20 years, was elevated to president and CEO of IMS on July 1, 2009 while Brighton, who served as general counsel for the Hulman/George family beginning in 1994, took over as president and CEO of Hulman & Company.
Since founding the Indy Racing League in 1994, George had spent hundreds of millions of dollars on IRL teams, drivers, entry fees, marketing plans, airplanes, personnel and his own team.
The IRL was a financial loser from Day 1 and, coupled with the estimated $60 million overhaul of IMS to accommodate Formula One in 2000, George’s sisters voiced their concern to their mother over the spending habits of their brother.
Nancy George, Josie George and Kathi Conforti-George finally convinced Mari Hulman George to take the check book and unchecked power away from Tony George in June of 2009.
That didn’t sit well with George and not only did he resign both of his positions at IMS and Hulman & Company, he also stepped down as IRL president and became just another car owner with Vision Racing, which closed its doors in 2010.
“As members of his family, we are sorry to see Tony leave,” said Mari Hulman George in 2009. “We are grateful for his service to our company as a board member and for serving as CEO and president of our companies.
“I speak for our whole family in wishing him well. All of us had hoped 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.”
Josie George took it upon herself to find a successor for her brother and she hired Randy Bernard away from the Pro Bull Riders in January of 2010.
Since taking over the IRL, Bernard’s aggressive approach has new cars and engines in place for 2012, two new engine manufacturers in General Motors and Lotus and multiple companies interested in building bodywork kits.
Bernard also greatly reduced the overall losses for the series in 2010.
Almost two years removed from his angry and abrupt departure, Tony George is back in the family business.
SPEED.com has learned that George has been reinstated on the board of directors of Hulman & Company, the umbrella that funds and administers the Indianapolis Motor Speedway, IZOD INDYCAR series and Clabber Girl Baking Powder.
It’s believed that Mari Hulman George, board chairwoman for Hulman & Company in addition to being chairman of the board at IMS, made the call to bring her son back into the fold.
It doesn’t appear that George’s re-emergence will immediately affect the day-to-day operation of INDYCAR or the Indianapolis 500, although he was known to have made an unsuccessful attempt last summer to purchase the series he started with a couple of investors.
George had served as Chief Executive Officer of Hulman & Company and the Speedway before resigning both positions on June 30, 2009 following what can best be described as a civil war among his siblings.
The only male child of Mari Hulman George and the namesake of IMS savior Anton Hulman, Tony had held those offices since 1989 and was replaced by a pair of longtime IMS loyalists -- Jeff Belskus and Curt Brighton.
Belskus, the chief financial officer for Hulman & Company for 20 years, was elevated to president and CEO of IMS on July 1, 2009 while Brighton, who served as general counsel for the Hulman/George family beginning in 1994, took over as president and CEO of Hulman & Company.
Since founding the Indy Racing League in 1994, George had spent hundreds of millions of dollars on IRL teams, drivers, entry fees, marketing plans, airplanes, personnel and his own team.
The IRL was a financial loser from Day 1 and, coupled with the estimated $60 million overhaul of IMS to accommodate Formula One in 2000, George’s sisters voiced their concern to their mother over the spending habits of their brother.
Nancy George, Josie George and Kathi Conforti-George finally convinced Mari Hulman George to take the check book and unchecked power away from Tony George in June of 2009.
That didn’t sit well with George and not only did he resign both of his positions at IMS and Hulman & Company, he also stepped down as IRL president and became just another car owner with Vision Racing, which closed its doors in 2010.
“As members of his family, we are sorry to see Tony leave,” said Mari Hulman George in 2009. “We are grateful for his service to our company as a board member and for serving as CEO and president of our companies.
“I speak for our whole family in wishing him well. All of us had hoped 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.”
Josie George took it upon herself to find a successor for her brother and she hired Randy Bernard away from the Pro Bull Riders in January of 2010.
Since taking over the IRL, Bernard’s aggressive approach has new cars and engines in place for 2012, two new engine manufacturers in General Motors and Lotus and multiple companies interested in building bodywork kits.
Bernard also greatly reduced the overall losses for the series in 2010.
Tuesday, February 2, 2010
IRL hires Bernard as new CEO, replacing George
(by Curt Cavin indystar.com 1-30-10)
The Indy Racing League landed a new chief executive officer Friday when Randy Bernard accepted the position vacated by Tony George.
Bernard, the founder and now former CEO of Professional Bull Riders Inc., will be confirmed next week, industry sources told The Star.
Bernard turns 43 Sunday. He has never attended an IndyCar Series race.
The resident of Colorado City, Colo., said earlier this week that his background shouldn't be a hindrance to growing the IRL.
"I didn't know anything about bull-riding before we started," he said. "But 20 riders gave $1,000 each -- three had to borrow the money -- and we made it go.
"The first day we had a 15-by-15 office, a folding chair, a table and I was the only employee. We learned everything from the ground up."
PBR has grown into an international sport, distributing $9 million in prize money in 2009.
Bernard became familiar with IRL officials because PBR used IMS Promotions for some of its television work. Another tie is Versus, which PBR has used as its springboard to success.
"There are a lot of similarities between the two groups," Bernard said. "The IRL is already (going). All it needs is some direction and some dreams."
George falls off IndyCar radar
(by Terry Blount espn.go.com 1-28-10)
Tony George is out. Completely out. The man who forever transformed Indy car racing, good or bad, is out of the sport.
In less than seven months, George went from the most powerful man in American open-wheel racing to just another guy on the street.
Racing royalty to serfdom in the blink of an eye.
Vision Racing, George's IndyCar Series team, shut its doors Thursday, suspending operations due to a lack of sponsorship.
The team was all he had left.
Some Indy car fans, still angry over the long open-wheel feud between two separate leagues, will gloat today at George's downfall, believing he got what was coming to him.
John Barnes, co-owner of the Panther Racing IndyCar team, is not among them.
"Anyone who feels that way, I feel sorry for them," Barnes said Thursday. "I think Tony is a true visionary with the things he's done at Indianapolis Motor Speedway. Without him, that place would be a shopping center by now."
Not everyone agrees, including Indy car legend Mario Andretti.
"Tony's legacy is not a very good one from my standpoint," Andretti said Thursday. "His grandfather, Tony Hulman, did more for open-wheel racing than any other individual. Tony George did more to destroy it than any other individual.
"That's the only way you can put it. It is diminished today because he started the IRL."
Just last week, George resigned his position on the board of directors that oversees IMS and the family business, Hulman & Co.
But his power was lost last June when the board ousted him as CEO of the speedway in an ugly family feud that pitted George and his mother, Mary Hulman, against his sisters.
George resigned from his position as president of the Indy Racing League, which he founded in 1994.
The irony of all this is George finally got what he wanted two years ago when the IRL merged with Champ Car, what little was left of it, anyway.
But it was too late. Too late to bring Indy car racing back to its past glory and too late to save George from his family's wrath. His days of spending the family fortune were over.
Some reports estimate George spent more than $500 million to keep the IRL going through the split, but some of that money was spent on dramatic improvements at IMS to bring Formula One to the Brickyard. F1 left after the 2007 race at Indy.
George also was instrumental in bringing NASCAR to IMS, a huge success for the speedway and NASCAR. But Barnes sees a far more important contribution that George helped facilitate.
"Every driver who races today at a superspeedway should say a prayer for [George]," Barnes said. "He saved their lives with the SAFER wall and all the safety advancements of the last 10 years, and he spent a lot of his own money to do it.
"No one talks about that. I've been in racing for 42 years. No one before him ever came close to making the difference he has made."
Maybe over time, more people will recognize George for those accomplishments. But the sad truth remains that many people view him as the man who ruined Indy car racing by feuding with CART (the original name of Champ Car) and causing a split of two competing leagues that lasted 13 years.
There was plenty of blame to go around for open-wheel's war, including CART team owners who steadfastly refused to make needed changes.
So George took a bold step in forming a new league. The stated goals were more oval-track racing, more American drivers and reduced costs to the competitors.
But both leagues struggled while competing for the same fan base. And George continued to spend piles of money over the years to help fund the league and crush Champ Car.
It's a war he eventually won when the leagues merged before the 2008 season. However, winning didn't mean much by then, and his siblings fought to take control of the speedway and the league.
But George still had his team, until Thursday. Vision Racing was his pride and joy, with his stepson, Ed Carpenter, as the driver.
"I feel bad for Tony and bad for Ed," said Indy car legend A.J. Foyt, an IRL team owner. "Ed was really coming on last year to contend for winning races."
Foyt, the first man to win the Indy 500 four times, has been loyal to George from the beginning. Foyt was George's anchor when most of the major team owners stayed with CART.
"I feel awful about this," Foyt said Thursday. "I've been a friend of the entire [Hulman/George] family for a long time, but I always stayed out of their business because I want to remain friends with all of them.
"Tony's idea for the league was a good one. He did a lot of really good things, but at the end, I think he was getting some bad advice on how to run things."
Another irony is how today's IndyCar Series is strikingly similar to the CART series of the 1990s. IndyCar today races on a variety of tracks -- ovals, road courses and street events -- it races internationally (at Brazil and Japan) and it has fewer American drivers than foreign competitors.
Despite the turmoil of the moment -- George's team shutting down and the IMS board looking for a new IRL president -- Andretti believes the future is bright. That's important to Andretti, who says he "still has skin in the game" with son Michael (a team owner) and grandson Marco (a driver).
"The series is stable," Andretti said. "There are a lot of positive things to look forward to. It's much brighter today than it was two years ago when we still had two series. What happened, happened. Now it's time to move on."
Even after all these years, fans of the sport and people involved in open-wheel racing draw a line in the sand when it comes to George.
Andretti sees him as the villain. Barnes sees him as a hero.
"Everyone who races in this league owes Tony a lot," Barnes said. "I know I do. I owe him everything I've got."
Tuesday, January 19, 2010
George resigns from boards
(by John Oreovicz espn.go.com 1-19-10)
INDIANAPOLIS -- Indy Racing League founder Tony George has resigned, effective immediately, from his board of director responsibilities at Indianapolis Motor Speedway and Hulman & Company, the Indiana-based family business founded in 1850.
George, 50, had served as President and CEO of Hulman & Co. and its affiliates, including Indianapolis Motor Speedway Corp. and the IRL, from 1989 until he was effectively forced out in June 2009. Since then, he remained a board member of Hulman & Co. and IMS, though he resigned his position last year from management of the IRL.
"As members of his family, we are sorry to see Tony leave," Hulman & Co. chairman Mari Hulman George, Tony's mother, said in a statement. "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."
Tony George polarized the racing community with his decision to use the Indianapolis 500 as the centerpiece of the IRL, which he formed in 1994 as an alternative to the CART IndyCar World Series. When the IRL began staging races in 1996, it instigated a 13-year battle with CART (Championship Auto Racing Teams) and later the Champ Car World Series for control of the sport generically known as Indy car racing. In that time span, Indy car racing lost fans, sponsors, manufacturers, teams and drivers, with many of those constituents transferring their allegiance to NASCAR.
The open-wheel war finally ended in early 2008 when the IRL absorbed the assets of Champ Car, but only after George spent hundreds of millions of dollars of the Hulman family fortune on starting and sustaining the IRL. In June 2009, the Hulman & Co. board, which includes Mari Hulman George, as well as Tony George's sisters Nancy, Josie and Kathi plus attorney Jack Snyder, voted to remove Tony from his role as chairman.
"Our company is healthy and is weathering the economic recession well," noted Mrs. Hulman-George. "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."
Tony George is expected to remain involved in the Indy car arena as the owner of Vision Racing, which has fielded cars in the IndyCar Series since 2005 for his stepson, Ed Carpenter.
George was not immediately available for comment.
INDIANAPOLIS -- Indy Racing League founder Tony George has resigned, effective immediately, from his board of director responsibilities at Indianapolis Motor Speedway and Hulman & Company, the Indiana-based family business founded in 1850.
George, 50, had served as President and CEO of Hulman & Co. and its affiliates, including Indianapolis Motor Speedway Corp. and the IRL, from 1989 until he was effectively forced out in June 2009. Since then, he remained a board member of Hulman & Co. and IMS, though he resigned his position last year from management of the IRL.
"As members of his family, we are sorry to see Tony leave," Hulman & Co. chairman Mari Hulman George, Tony's mother, said in a statement. "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."
Tony George polarized the racing community with his decision to use the Indianapolis 500 as the centerpiece of the IRL, which he formed in 1994 as an alternative to the CART IndyCar World Series. When the IRL began staging races in 1996, it instigated a 13-year battle with CART (Championship Auto Racing Teams) and later the Champ Car World Series for control of the sport generically known as Indy car racing. In that time span, Indy car racing lost fans, sponsors, manufacturers, teams and drivers, with many of those constituents transferring their allegiance to NASCAR.
The open-wheel war finally ended in early 2008 when the IRL absorbed the assets of Champ Car, but only after George spent hundreds of millions of dollars of the Hulman family fortune on starting and sustaining the IRL. In June 2009, the Hulman & Co. board, which includes Mari Hulman George, as well as Tony George's sisters Nancy, Josie and Kathi plus attorney Jack Snyder, voted to remove Tony from his role as chairman.
"Our company is healthy and is weathering the economic recession well," noted Mrs. Hulman-George. "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."
Tony George is expected to remain involved in the Indy car arena as the owner of Vision Racing, which has fielded cars in the IndyCar Series since 2005 for his stepson, Ed Carpenter.
George was not immediately available for comment.
Monday, September 14, 2009
The Tony George kicked in the nuts list
Since the end of the 2008 season Tony George and his IndyCar series have been kicked in the nuts time and time again with bad news. Granted, economic times are not making things easy but with the series now unified things should be looking up instead of down.
1. Helio Castroneves, 2 time Indy 500 winner and Dancing with the Stars champ is hauled into Federal court to face tax evasion charges. He in turn looses his seat with Penske Racing and could spend significant time in jail.
2. After their television contract with the IRL ends ABC decides to no longer air any races on ESPN and only signs to air 5 races on ABC.
3. The IRL is forced to take whatever they can get in terms of television coverage for their remaining races, they then sign a deal with the little known Versus channel.
4. The IRL looses their "presented by" sponsorship with Direct TV due to their deal with Versus since VS is owned by Comcast, Direct TV's biggest competitor.
5. Citing economic reasons the Grand Prix of Detroit is cancelled.
6. After the price of oil falls dramatically and gas becomes cheaper than Ethanol the American company that produced the ethanol the IRL used to fuel their cars goes out of business.
7. The IRL is forced to get their fuel through APEX-Brasil, a company that makes ethanol from Brasilian sugarcane, angering the IRL's corn growing midwestern fanbase.
8. Rahal Letterman Racing looses their Ethanol sponsorship and cannot find a replacement. They announce unless they can find a last minute sponsor they will not compete in 2009.
9. KV racing (the K stands for Kevin Kalkhoven, the man that engineered the sale of ChampCar to TG) announces they most likely will cut down to a one car effort due to lack of sponsorship dollars.
10. It is announced that IndyCar magazine is going out of print due to lack of interest.
A "Kicked in the Nuts" Update
* Helio Castroneves beat the rap. Lucky for him and lucky for Tony.
* The coverage on the Versus channel has been excellent, it was something IndyCar needed, the only problem is nobody is watching.
* IndyCar's tv ratings have been absolutely horrible this season.
0.3 - St. Pete - VS
0.5 - Long Beach - VS
0.15 - Kansas - VS
3.9 - Indy 500 - ABC
0.6 - Milwaukee - ABC
0.36 - Texas - VS
0.8 - Iowa - ABC
0.22 - Richmond - VS
0.9 - Watkins Glen - ABC
1.0 - Toronto - ABC
0.23 - Edmonton - VS
0.14 - Kentucky - VS
0.2 - Mid Ohio - VS
0.25 - Sonoma - VS
0.24 - Chicago - VS
0.14 - Motegi - VS
(On the same weekend as the Milwaukee race more people watched women's college softball on ESPN than watched IndyCar, oh my.)
Now this is really getting kicked in the nuts, Tony has resigned as IRL CEO after being removed as IMS CEO by his mother and sisters. Ouch.
1. Helio Castroneves, 2 time Indy 500 winner and Dancing with the Stars champ is hauled into Federal court to face tax evasion charges. He in turn looses his seat with Penske Racing and could spend significant time in jail.
2. After their television contract with the IRL ends ABC decides to no longer air any races on ESPN and only signs to air 5 races on ABC.
3. The IRL is forced to take whatever they can get in terms of television coverage for their remaining races, they then sign a deal with the little known Versus channel.
4. The IRL looses their "presented by" sponsorship with Direct TV due to their deal with Versus since VS is owned by Comcast, Direct TV's biggest competitor.
5. Citing economic reasons the Grand Prix of Detroit is cancelled.
6. After the price of oil falls dramatically and gas becomes cheaper than Ethanol the American company that produced the ethanol the IRL used to fuel their cars goes out of business.
7. The IRL is forced to get their fuel through APEX-Brasil, a company that makes ethanol from Brasilian sugarcane, angering the IRL's corn growing midwestern fanbase.
8. Rahal Letterman Racing looses their Ethanol sponsorship and cannot find a replacement. They announce unless they can find a last minute sponsor they will not compete in 2009.
9. KV racing (the K stands for Kevin Kalkhoven, the man that engineered the sale of ChampCar to TG) announces they most likely will cut down to a one car effort due to lack of sponsorship dollars.
10. It is announced that IndyCar magazine is going out of print due to lack of interest.
A "Kicked in the Nuts" Update
* Helio Castroneves beat the rap. Lucky for him and lucky for Tony.
* The coverage on the Versus channel has been excellent, it was something IndyCar needed, the only problem is nobody is watching.
* IndyCar's tv ratings have been absolutely horrible this season.
0.3 - St. Pete - VS
0.5 - Long Beach - VS
0.15 - Kansas - VS
3.9 - Indy 500 - ABC
0.6 - Milwaukee - ABC
0.36 - Texas - VS
0.8 - Iowa - ABC
0.22 - Richmond - VS
0.9 - Watkins Glen - ABC
1.0 - Toronto - ABC
0.23 - Edmonton - VS
0.14 - Kentucky - VS
0.2 - Mid Ohio - VS
0.25 - Sonoma - VS
0.24 - Chicago - VS
0.14 - Motegi - VS
(On the same weekend as the Milwaukee race more people watched women's college softball on ESPN than watched IndyCar, oh my.)
Now this is really getting kicked in the nuts, Tony has resigned as IRL CEO after being removed as IMS CEO by his mother and sisters. Ouch.
Wednesday, July 29, 2009
Dear Anton: Miss you (sort of)
(by Ed Hinton espn.go.com 7-26-09)
Dear Tony,
You didn't miss much here on Sunday in Indianapolis, at the track you used to rule. But we sure missed you.
A race without much action is bad enough, let alone one on a track without a face -- without someone for everyone to blame.
The 16th Allstate 400 at the Brickyard was a dog. I know, I know: What's new?
But a faceless Indianapolis Motor Speedway, operating on an eerie sort of autopilot without you, made it even more forgettable.
For better or worse, we had grown accustomed to your smirks and scowls with the ups and downs of this place these past 20 years when you had reigned, before your mother and three dear sisters threw you off the throne and under the bus last month.
Can't say I blame you for getting as far from here as you could this past weekend, way up there in northwestern Canada, running your IndyCar team. Nice move, by the way, to assuage any suspicion that you might be pouting.
You would have left here frowning again. NASCAR would have embarrassed you again. I know, I know: What's new?
FYI, in case you care: Jimmie Johnson won again, ho-hum, his second straight here and third in the past four, after some semblance of a late duel with Mark Martin.
Before that, the snoring of the crowd might have drowned out the engine noise, except that these magnificent, once-proud grandstands were half full -- and that's being kind.
Maybe 150,000 showed up, the humblest gathering I've ever seen for an oval-track race here -- smaller even than the Formula One crowds the first year or two on the road-oval course. Your grandfather used to draw bigger crowds than this for Indy 500 time trials.
Snoring notwithstanding, it might have been better if Juan Pablo Montoya had been allowed to go ahead and run away with this race, more dominantly even than when he won the Indy 500 in 2000. Remember how he led 83 percent of the laps that year? He was well on his way to leading 90-odd percent of the laps Sunday.
At least the fans would have seen one for the record books, and your old pals in the media would have had something substantive, memorable to chronicle.
But no, hell no. NASCAR had to act like cops at a small-town speed trap, snuffing anything remotely fascinating about this race by busting Montoya for his hyperhaste down pit road with 35 laps to go.
This pit road speeding thing has gotten out of hand, with NASCAR computers nitpicking to the brink of ruin for the whole Cup series, everywhere NASCAR goes. Now they pull this stunt at the last place on Earth where electronics should determine the outcome.
Remember how outraged and embarrassed you were last year when NASCAR let Goodyear bring such inadequate tires that drivers had to pit every 10 laps or so or risk crashing? And then they blamed the debacle on the diamond-ground surface of your track?
Well, the opposite scenario stunk up the show this time. After extensive testing here -- duh -- Goodyear came up with a more-than-adequate tire. Almost too good. There were only three cautions to bunch up the strung-out (as usual) field, and only two passes for the lead under the green flag all day.
And one of those was artificially induced: Johnson's pass of Martin on the final double-file restart.
Personal question here: I'm hearing that your sisters might have overthrown you for more than just spending a cool half-billion of the family fortune propping up your beloved spawn, the Indy Racing League, and getting your pocket picked for another hundred mil or so by Formula One.
I'm getting vibes of serious sibling quibbling -- issues such as who got the big family jet on which weekends, and why your stepson has been fully funded to race while some of your nephews haven't.
You don't have to answer me now, not any more than you ever did. Families deserve their privacy, even the very rich ones who control the fate of American institutions such as Indy.
Hey, this joint would have been a shopping mall decades ago if your late grandfather, Tony Hulman, hadn't saved it at the end of World War II. That's why your IRL believers said the Indy 500 was yours to do with as you pleased, even though I countered that, no, the American people owned the Indy 500. They made it.
I'm sure you've left Edmonton by now, but I'm hoping the track will forward this letter to you, wherever you might be. You've been hard to catch this summer. Hell, I had better access to you while you were trying to ban me from the Indy 500 in 1999. (We had a lot of laughs that year, didn't we?)
I really did miss you this past weekend. Regardless of the business of motor racing and how you conducted it, and how I criticized you for it, I've always liked you as a person. Through our roller-coaster years, you would always stop to talk and shake hands, no matter how adversarial our relationship might be at a given time.
And I'll give you this: You had guts. You were and are a racer at heart. You were a gambler -- more so, by far, than your fellow third generation of racing royalty, NASCAR's ruling France family.
The only thing is, you lost. Terribly.
And now you're sort of like Steve McQueen in the old movie "The Cincinnati Kid," after the no-limit stud poker game, walking the streets of New Orleans with a stoic face and a quarter in his pocket.
You have a lot more than a quarter left in your pocket, maybe even a quarter of a billion -- yeah, with a B -- but you still lost horrifically. And you took the American public on the ride with you, so that the late actor/racer Paul Newman once opined to me grimly that it was "damn near criminal what he's done," dividing and devastating Indy car racing.
Oh, on a brighter note, I almost forgot! We see that you're blogging now, on your racing team's Web site, Visionracing.com. Your latest installment was a big hit around the media center Sunday morning.
We were all reading it, interested that you, in your words, "have decided to use the Vision Racing website [sic], in a therapeutic way, to help clear my mind …"
Seems you might be opening up the family feud to the public soon, writing that, "I continue to be perplexed by the board's [your sisters' and mother's] decision to relieve me from my responsibility as CEO of the enterprise."
But you say, "I understand that maybe they don't feel that they owe me an explanation."
At long last, you've written that "contrary to popular belief, our family does not have an endless supply of cash …"
A lot of us have always realized that. Some just wondered at times whether you did.
Assuming your family really hasn't explained what happened to you, I'll offer my best educated guess, just for old times' sake.
Ultimately, nothing within the Hulman-George family did you in. You stepped onto the slippery slope the minute you let a France -- or as I understand it, one of the family's intermediaries -- whisper in your ear the notion of stampeding NASCAR cars down the hallways of your family estate.
It didn't work Sunday, any more than it has since 1994 on this narrow, flat, rectangular track built in 1909. And now, after 15 years of chronically boring racing, the "hallowed ground" rationale for NASCAR stumbling around this lovely old place has worn thin.
But the huge crowds and profits of those early Brickyard 400s emboldened you, filling your coffers for 13 years of all-out war with CART (and its carcass, Champ Car), until finally you reigned over little more than the scorched earth of American open-wheel racing.
Remember how you told me yourself -- a few years back, at Joliet, Ill. -- that the big NASCAR bucks had replenished your war chest?
Did NASCAR intend to devastate Indy car racing?
I don't know.
But Bill France Jr., who made the original deal with you, did say on the phone to me, with a chuckle, during the open-wheel civil war you wrought, "It hasn't hurt us any, has it?"
Lore is that his father, NASCAR founder Big Bill France, while being ejected from your grandfather's track in the 1950s, before you were born, shouted over his shoulder, "I'll own this place someday!"
His heirs don't need to.
Olympus has been razed, the Indy 500 toppled from the pinnacle, 100-year-old Indianapolis Motor Speedway humbled.
NASCAR handed you so much cash that you were a little like the Vegas crapshooter who figures, What the heck, I'm playing with house money, until he finally walks away with far less than he brought.
And now NASCAR, its own fading appeal addled further by the clunky Car of Tomorrow, can hardly half-fill the place where the Indiana State Police used to estimate crowds at 400,000 for that singular race of each year, in all the world, the Indianapolis 500.
Don't blame your own family, nor the currently tempestuous economy, for your downfall.
Indy survived two world wars and the Great Depression, standing staunch for a century. But now I can't help wondering whether it will survive NASCAR and the deal you made that looked so brilliant at the time.
Regards,
Ed Hinton
Dear Tony,
You didn't miss much here on Sunday in Indianapolis, at the track you used to rule. But we sure missed you.
A race without much action is bad enough, let alone one on a track without a face -- without someone for everyone to blame.
The 16th Allstate 400 at the Brickyard was a dog. I know, I know: What's new?
But a faceless Indianapolis Motor Speedway, operating on an eerie sort of autopilot without you, made it even more forgettable.
For better or worse, we had grown accustomed to your smirks and scowls with the ups and downs of this place these past 20 years when you had reigned, before your mother and three dear sisters threw you off the throne and under the bus last month.
Can't say I blame you for getting as far from here as you could this past weekend, way up there in northwestern Canada, running your IndyCar team. Nice move, by the way, to assuage any suspicion that you might be pouting.
You would have left here frowning again. NASCAR would have embarrassed you again. I know, I know: What's new?
FYI, in case you care: Jimmie Johnson won again, ho-hum, his second straight here and third in the past four, after some semblance of a late duel with Mark Martin.
Before that, the snoring of the crowd might have drowned out the engine noise, except that these magnificent, once-proud grandstands were half full -- and that's being kind.
Maybe 150,000 showed up, the humblest gathering I've ever seen for an oval-track race here -- smaller even than the Formula One crowds the first year or two on the road-oval course. Your grandfather used to draw bigger crowds than this for Indy 500 time trials.
Snoring notwithstanding, it might have been better if Juan Pablo Montoya had been allowed to go ahead and run away with this race, more dominantly even than when he won the Indy 500 in 2000. Remember how he led 83 percent of the laps that year? He was well on his way to leading 90-odd percent of the laps Sunday.
At least the fans would have seen one for the record books, and your old pals in the media would have had something substantive, memorable to chronicle.
But no, hell no. NASCAR had to act like cops at a small-town speed trap, snuffing anything remotely fascinating about this race by busting Montoya for his hyperhaste down pit road with 35 laps to go.
This pit road speeding thing has gotten out of hand, with NASCAR computers nitpicking to the brink of ruin for the whole Cup series, everywhere NASCAR goes. Now they pull this stunt at the last place on Earth where electronics should determine the outcome.
Remember how outraged and embarrassed you were last year when NASCAR let Goodyear bring such inadequate tires that drivers had to pit every 10 laps or so or risk crashing? And then they blamed the debacle on the diamond-ground surface of your track?
Well, the opposite scenario stunk up the show this time. After extensive testing here -- duh -- Goodyear came up with a more-than-adequate tire. Almost too good. There were only three cautions to bunch up the strung-out (as usual) field, and only two passes for the lead under the green flag all day.
And one of those was artificially induced: Johnson's pass of Martin on the final double-file restart.
Personal question here: I'm hearing that your sisters might have overthrown you for more than just spending a cool half-billion of the family fortune propping up your beloved spawn, the Indy Racing League, and getting your pocket picked for another hundred mil or so by Formula One.
I'm getting vibes of serious sibling quibbling -- issues such as who got the big family jet on which weekends, and why your stepson has been fully funded to race while some of your nephews haven't.
You don't have to answer me now, not any more than you ever did. Families deserve their privacy, even the very rich ones who control the fate of American institutions such as Indy.
Hey, this joint would have been a shopping mall decades ago if your late grandfather, Tony Hulman, hadn't saved it at the end of World War II. That's why your IRL believers said the Indy 500 was yours to do with as you pleased, even though I countered that, no, the American people owned the Indy 500. They made it.
I'm sure you've left Edmonton by now, but I'm hoping the track will forward this letter to you, wherever you might be. You've been hard to catch this summer. Hell, I had better access to you while you were trying to ban me from the Indy 500 in 1999. (We had a lot of laughs that year, didn't we?)
I really did miss you this past weekend. Regardless of the business of motor racing and how you conducted it, and how I criticized you for it, I've always liked you as a person. Through our roller-coaster years, you would always stop to talk and shake hands, no matter how adversarial our relationship might be at a given time.
And I'll give you this: You had guts. You were and are a racer at heart. You were a gambler -- more so, by far, than your fellow third generation of racing royalty, NASCAR's ruling France family.
The only thing is, you lost. Terribly.
And now you're sort of like Steve McQueen in the old movie "The Cincinnati Kid," after the no-limit stud poker game, walking the streets of New Orleans with a stoic face and a quarter in his pocket.
You have a lot more than a quarter left in your pocket, maybe even a quarter of a billion -- yeah, with a B -- but you still lost horrifically. And you took the American public on the ride with you, so that the late actor/racer Paul Newman once opined to me grimly that it was "damn near criminal what he's done," dividing and devastating Indy car racing.
Oh, on a brighter note, I almost forgot! We see that you're blogging now, on your racing team's Web site, Visionracing.com. Your latest installment was a big hit around the media center Sunday morning.
We were all reading it, interested that you, in your words, "have decided to use the Vision Racing website [sic], in a therapeutic way, to help clear my mind …"
Seems you might be opening up the family feud to the public soon, writing that, "I continue to be perplexed by the board's [your sisters' and mother's] decision to relieve me from my responsibility as CEO of the enterprise."
But you say, "I understand that maybe they don't feel that they owe me an explanation."
At long last, you've written that "contrary to popular belief, our family does not have an endless supply of cash …"
A lot of us have always realized that. Some just wondered at times whether you did.
Assuming your family really hasn't explained what happened to you, I'll offer my best educated guess, just for old times' sake.
Ultimately, nothing within the Hulman-George family did you in. You stepped onto the slippery slope the minute you let a France -- or as I understand it, one of the family's intermediaries -- whisper in your ear the notion of stampeding NASCAR cars down the hallways of your family estate.
It didn't work Sunday, any more than it has since 1994 on this narrow, flat, rectangular track built in 1909. And now, after 15 years of chronically boring racing, the "hallowed ground" rationale for NASCAR stumbling around this lovely old place has worn thin.
But the huge crowds and profits of those early Brickyard 400s emboldened you, filling your coffers for 13 years of all-out war with CART (and its carcass, Champ Car), until finally you reigned over little more than the scorched earth of American open-wheel racing.
Remember how you told me yourself -- a few years back, at Joliet, Ill. -- that the big NASCAR bucks had replenished your war chest?
Did NASCAR intend to devastate Indy car racing?
I don't know.
But Bill France Jr., who made the original deal with you, did say on the phone to me, with a chuckle, during the open-wheel civil war you wrought, "It hasn't hurt us any, has it?"
Lore is that his father, NASCAR founder Big Bill France, while being ejected from your grandfather's track in the 1950s, before you were born, shouted over his shoulder, "I'll own this place someday!"
His heirs don't need to.
Olympus has been razed, the Indy 500 toppled from the pinnacle, 100-year-old Indianapolis Motor Speedway humbled.
NASCAR handed you so much cash that you were a little like the Vegas crapshooter who figures, What the heck, I'm playing with house money, until he finally walks away with far less than he brought.
And now NASCAR, its own fading appeal addled further by the clunky Car of Tomorrow, can hardly half-fill the place where the Indiana State Police used to estimate crowds at 400,000 for that singular race of each year, in all the world, the Indianapolis 500.
Don't blame your own family, nor the currently tempestuous economy, for your downfall.
Indy survived two world wars and the Great Depression, standing staunch for a century. But now I can't help wondering whether it will survive NASCAR and the deal you made that looked so brilliant at the time.
Regards,
Ed Hinton
Settling In
(visionracing.com 7-26-09)
EDITOR's NOTE:
Vision Racing Team Owner Tony George contributes this feature, written in his own words, as a follow up to an official statement posted on this site July 10th, 2009.
After having a week off from racing I have had a chance to relax and reflect on the events that have taken place over the last few weeks. I have decided to use the Vision Racing website, in a therapeutic way, to help clear my mind and clear the air by sharing some of my thoughts:
Settling into a different routine after 20 years has been quite an adjustment. I must say, it was neither something I was expecting nor something I had given much consideration to, but not unusual given the time in which we currently live. All around me I see that people’s lives are being affected by the realities of a deepening recession, and we all hope it begins to turn around soon and that better days are what lie ahead.
I would be less than honest if I said that last February 2008, after we were able to unify open-wheel racing, I didn’t at least let the thought of possibly “dialing back the boost” a little bit slip into my mind. However, I knew there would be a couple of more years of hard work ahead of us, as we had asked for and been given the opportunity to provide the leadership of the sport going forward. Knowing that there would be reservations expressed by some in our ability to lead, I had confidence that the right team of people had been assembled to take it forward.
Knowing that the decision made would be good for all concerned, we set out to do the nearly impossible and to bring about an immediate transition. It came at great expense and would not have been possible without the support from some great partners, but the majority of the heavy-lifting would be borne by our company. I knew that the historic start to the 2008 season would be rocky, but felt that by May things would start to sort out and the series would start to come together as one. That proved to be the case.
Most, if not all, of the early concerns expressed began to subside; many who had expressed their concerns began to provide positive reinforcement for the job that had been done bringing it together under challenging conditions.
Little did we know just how challenging it was going to become. The second half of the season rolled along while most started to look toward 2009 and the promise that, together, we could now really start to capitalize on the momentum we had been gaining all season long. Higher gas prices were starting to have an affect on race attendance, mainly at NASCAR events, as people were beginning to have to make choices between discretionary spending and providing for their basic needs. But IndyCar fans were still turning out in support of a unified series.
By the end of the season it started to become clear that our hopes of catching a tailwind from unification heading into 2009 would be met with more challenges. We were now going to have even stiffer headwinds brought about by the global market and financial crisis. By late fall the rumblings began that teams were going to be expecting financial support from the League if they were going to be able to compete in 2009.
Now, I don’t think it is a secret that most IndyCar and Champ Car teams have relied heavily on financial support from series owners to fund or subsidize their operations over the last 5 years. In fact, I know that in the case of the IRL, every team that has ever competed in the series, since inception, has received support to some degree. Given those facts, it is a testament to the commitment of the teams and sponsors in the series today that they have persevered this season without any subsidy from the League.
Important to note in all of this is, contrary to popular belief, our family does not have an endless supply of cash to continue to pour into the League in the form of subsidy. Rather, it is incumbent on the league to provide the leadership expected during this challenging economic time to grow the business, to grow the sport, and to position it for success in the future.
A good plan to start the year had been developed, but not before executive management had sufficiently challenged the business group leaders to re-examine their own budget planning process and goals for 2009. I had to convince my colleagues that the only way we could develop a comprehensive enterprise plan would be to have regular, frequent and transparent management meetings so each unit could see and understand the big picture. This is something that was going to require time, given how we had previously operated.
Anyone who has any aptitude at all for running a business would realize that the task of creating and following through with a successful long-term plan is something that takes a great deal of time and patience. While the plan has been put into motion, and positive growth is evident, it will require much more time and effort to fully see the plan through. This is a process that I had been committed to being a part of, even though others had different ideas of their own.
That being said, I continue to be perplexed by the board’s recent decision to relieve me from my responsibility as CEO of the enterprise. To date, I have not received a reasonable explanation as to why; the statement they released to the press not withstanding, I feel as though after 20 years I am entitled to one. I understand that maybe they don’t feel that they owe me an explanation.
One thing I can tell you is that I stood resolute in my conviction on the direction we needed to go and that the measures we have taken since January are only a beginning. A complete review of how we are structured and operate is necessary. Beyond my being dismissed, I am unaware of any changes that are being contemplated that will have a meaningful impact on the organization.
I have been replaced in my role as manager by two individuals who have been with the company for many years. In that time they have also been members of the executive management team and have participated in all of the strategic decisions that have been made over the last 15 years, so they are well aware of the challenges ahead. My question for the board has been not one of who is going to manage the company, but rather, who is going to lead it? There is a distinction.
At this time Tony wishes to continue to limit his communications regarding this matter to statements posted on this website. Requests for interviews made to date should be viewed as being under consideration by Tony who will grant them at such time that it becomes appropriate to do so.
We sincerely appreciate your patience and understanding in this matter.
Sunday, July 19, 2009
A statement from Tony George
(visionracing.com 7-1-09)
The following is a statement by Tony George in response to the June 30th announcement by the Board of Directors of Hulman & Company and the Indianapolis Motor Speedway that a new management team comprised of veteran IMS executives W. Curtis Brighton and Jeffrey G. Belskus will head the Hulman-George companies, effective July 1.
“Nearly 20 years ago, I was asked by my family to represent our business as President and Chief Executive Officer. Since accepting that position, I have served at the pleasure of the board and, in doing so, I enthusiastically agreed to commit myself to stewardship of a great institution. While my service as CEO has now ended, I consider my stewardship to be a life-long appointment.
At a board meeting a little over a month ago, the Board of Directors of Hulman & Co. and the Indianapolis Motor Speedway asked me to propose a management reorganization that would focus my duties exclusively upon the operation, promotion, and development of the Indy Racing League, which I founded in 1994 and have overseen the development of since 1996.
At a board meeting last week, I was asked to continue as CEO of the Indy Racing League, reporting to a new President and CEO of IMS. In my view, this would have created an unnecessary bureaucratic layer between the people in the operations of the IRL and the CEO of IMS that had not previously existed. From the perspective of my experience as President and CEO of the Indianapolis Motor Speedway, I am acutely aware that the interests of IndyCar racing as a sport, the IRL as a league, and the most important motorsports race in the world, are mutually dependant and inter-connected, both now and in the future. I did not feel that a subordinate position as “CEO of the IRL” was a management vehicle which would allow me to accomplish the objectives that the family and the board requested me to pursue. I declined that position.
Since our May board meeting, as requested, I have offered my advice to the board on management reorganization, but also and perhaps more importantly, a reorganization of our board, which would provide a structure for better governance for generations to come. It is my belief that, with the recent unification of open-wheel racing, the focus should be on the future rather than the past.
I am encouraged that in recent conversations with my mother and Chairman of the Board, Mari George, I learned that she also sees the wisdom of taking a forward-looking approach which will provide consistent and coordinated leadership. In the near future, I will be providing a proposal for the board to evaluate. I have been assured by the Chairman that the board will engage in appropriate dialogue, with constructive give and take.
The success of any organization relies on strong leadership from management to execute strategies that focus on achieving results, and a board whose vision is focused on owner and stakeholder returns.
There have been many questions raised in the industry and in the media about whether any of these recent changes reflect a reduction in the commitment of our family or the IMS to the IRL or the sport of IndyCar. I have been assured by my mother that no such reduction of support or commitment is intended or anticipated. I can assure teams, sponsors, media and fans that our family is sincere in its commitment to the Indianapolis 500, the League and the sport.”
At this time Tony wishes to continue to limit his communications regarding this matter to statements posted on this website. Requests for interviews made to date should be viewed as being under consideration by Tony who will grant them at such time that it becomes appropriate to do so.
We sincerely appreciate your patience and understanding in this matter.
Friday, July 3, 2009
End of the Tony George era
(by Robin Miller 7-2-09)
If Tony George had a good support system 19 years ago instead of butt kissers, guys with grudges and people with agendas, he might still be in charge at the Indianapolis Motor Speedway.
If he had apprenticed under Joe Cloutier and learned the ropes of daily business and the tenuous formula of the Indianapolis 500, the month of May might still be booming.
If he had been seriously embraced by CART and made to feel his opinion mattered, open wheel racing might never have been divided and conquered by NASCAR.
If he chose to be keeper of castle instead of king, his legacy might be on-going and preserved in glowing tributes instead of ravaged by controversy and finished off by a family feud.
Despite all of the positive things he did like bringing NASCAR, Formula One and MOTO GP to town and financing the safer wall, he will also be remembered as the man who murdered May and did irreparable damage to Indy-car racing.
That’s not opinion, its fact.
But, looking back, the grandson of Tony Hulman was totally unprepared to run the “Greatest Spectacle in Racing” or preside over any kind of a series. He had no experience working with budgets, schedules or people.
His godfather, the late Dave Cassidy, always tried to get Mari Hulman George to send her son to one of their television stations for a couple of years to learn management skills, the value of a dollar and to interact with a staff. The least they should have done was make TG birddog Cloutier, who was Mr. Hulman’s savvy right-hand man for 50 years.
When Mari gave TG the keys to 16th & Georgetown in 1990, he had zero business acumen and a checkbook with seven figures: a dangerous combination.
TG’s attempt to purchase CART in 1991 at Houston was, by his own admission, very unprofessional and ill-prepared as his $1 million offer was rejected by the owners in less than civil tones.
That meeting was the genesis of the Indy Racing League and CART wasn’t clever enough to consider George’s age, inexperience and clout. He had Indy-car racing’s crown jewel and all they needed to do was ask his opinions on rules, car changes, etc., put their arms around him and make him part of the club. Sure, he did have a spot on the CART board for a while but nobody really cared to hear what he thought, according to a couple owners back then.
This was a critical time for young George and he needed some wise advisors. Instead, he supposedly listened to USAC officials and a former IMS boss who all loathed CART and Bill France Jr., who understood that CART was matching stock cars almost stride-for-stride in sponsorship, visibility and popularity.
I believe George thought France, NASCAR and ISC were his allies until a few years ago when he realized they had no interest in seeing his IRL succeed.
Anyway, at that time CART had Nigel Mansell, 28 full-time, sponsored cars, record attendance and good TV ratings in 1993-94-95. It was the worst possible time for George to start another series. He needed somebody with common sense to reason with him that the Indy 500 was the second toughest ticket in sports (behind the Masters) to get and CART may have been run by the greedy and pompous, but it was succeeding on all levels.
He needed somebody to remind him of Cloutier’s quote from the early ‘80s when the IMS boss said: “I don’t know why Indy became such a phenomenon but I do know it’s a fragile formula that we don’t want to mess with.”
Instead, when Tony announced 25 of the 33 spots for 1996 Indy 500 would be reserved for IRL point leaders and suddenly we had Racin’ Gardner and Bronco Brad Murphy competing instead of Michael Andretti, Al Unser Jr. and Emerson Fittipaldi, May took a credibility hit that it’s never recovered from.
Instead of following that tried and true tradition of just counting the money in May, George began spending it on purses, races, teams, promoting and marketing. He spent millions without consequence because he really didn’t value it and it came to him so easily.
His three sisters, also members of the IMS board, were reportedly vehemently all against funding another open wheel series and mother Mari was the only one who could check his power and shut down the revolution but she declined.
TG used the façade the IRL was for American drivers and manufacturers (and it was for a couple years) and to preserve the traditions of IMS when, in reality, it was only for control.
Despite some great finishes, the American public refused to embrace the IRL and it was listing badly earlier this decade when Roger Penske, Toyota and Honda came to its rescue. When the rest of the CART stalwarts like Ganassi, Rahal and Andretti-Green followed suit, the IRL suddenly had new life.
But only because it morphed into everything TG supposedly hated: street races, road courses, engine leases and inflated budgets.
A.J. Foyt called it CART Lite.
Still, by 2008 Champ Car had thrown in the towel and there was one series again for the first time since 1995. George had brokered peace and won the war but, incredibly, didn’t want to be king after all. He said he was happy running his Vision Racing team and had plenty of capable people to take care of IRL/IMS.
Of course a reflection of the 12-year war will show that it was expensive, destructive and needless. Indy-car racing is almost irrelevant in North America because of it and Indy has become a dull, lifeless spec series that’s going to slag along with the same boring equipment for at least two more years, providing it can hang on that long.
George isn’t the only one to blame for its demise but he is the one who pushed the red button.
So what happens now? TG’s sisters, who you certainly can’t blame for being angered and concerned at the estimated $700 million that’s been thrown at the IRL, F1 and the track, finally got the checkbook away from Tony and voted him out. There’s a bean counter in charge now and you can bet some changes are in the offing but Mari’s press release Tuesday stated the family would continue to support the IRL and open wheel racing. It didn’t say for how long or for how much but at least there’s a commitment for the immediate future.
A lot of people are convinced Mari is going to sell the Speedway but she’s always maintained it’s for her grandchildren and not for sale. Those grandkids, Jarrod Krisiloff, Kyle Krisiloff and Tony George Jr. are all working for the IRL right now while Lauren George, Olivia Conforti and Jesika Gunter all figure to be part of the process soon.
The Speedway appears to be in good shape. The Indy crowd was up last May, MOTO GP should be a winner with decent weather and the Brickyard may be half full but should still turn a profit. Indy almost ran itself for 60 years and Tony wasn’t hands on for the last few years anyway.
He didn’t have much input in the day-do-day business of the IRL either but it’s still his baby. He started it, nourished it and now it needs a complete overhaul of its financial pyramid because it’s a consistently big loser.
For now, Indy and IndyCar are still joined at the hip and the open wheel community is breathing a little easier after seeing Mari’s confirmation. It still needs leadership and Tony Cotman is the perfect guy to make the rules and streamline the budgets, yet his input doesn’t seem to be wanted.
As for George, he’s gone from one of the most powerful men in motorsports to the owner of a mid-pack, one-car team in IndyCar. There’s no denying he loves IMS and wanted to make it the pinnacle of all auto racing, which it is. But he wasn’t equipped to lead, he didn’t really have a plan, his passion was misplaced and his endless spending on an inferior product finally did him in.
Tony is not a bad person he just got some bad advice and made some bad decisions that May forever define his legacy.
If Tony George had a good support system 19 years ago instead of butt kissers, guys with grudges and people with agendas, he might still be in charge at the Indianapolis Motor Speedway.
If he had apprenticed under Joe Cloutier and learned the ropes of daily business and the tenuous formula of the Indianapolis 500, the month of May might still be booming.
If he had been seriously embraced by CART and made to feel his opinion mattered, open wheel racing might never have been divided and conquered by NASCAR.
If he chose to be keeper of castle instead of king, his legacy might be on-going and preserved in glowing tributes instead of ravaged by controversy and finished off by a family feud.
Despite all of the positive things he did like bringing NASCAR, Formula One and MOTO GP to town and financing the safer wall, he will also be remembered as the man who murdered May and did irreparable damage to Indy-car racing.
That’s not opinion, its fact.
But, looking back, the grandson of Tony Hulman was totally unprepared to run the “Greatest Spectacle in Racing” or preside over any kind of a series. He had no experience working with budgets, schedules or people.
His godfather, the late Dave Cassidy, always tried to get Mari Hulman George to send her son to one of their television stations for a couple of years to learn management skills, the value of a dollar and to interact with a staff. The least they should have done was make TG birddog Cloutier, who was Mr. Hulman’s savvy right-hand man for 50 years.
When Mari gave TG the keys to 16th & Georgetown in 1990, he had zero business acumen and a checkbook with seven figures: a dangerous combination.
TG’s attempt to purchase CART in 1991 at Houston was, by his own admission, very unprofessional and ill-prepared as his $1 million offer was rejected by the owners in less than civil tones.
That meeting was the genesis of the Indy Racing League and CART wasn’t clever enough to consider George’s age, inexperience and clout. He had Indy-car racing’s crown jewel and all they needed to do was ask his opinions on rules, car changes, etc., put their arms around him and make him part of the club. Sure, he did have a spot on the CART board for a while but nobody really cared to hear what he thought, according to a couple owners back then.
This was a critical time for young George and he needed some wise advisors. Instead, he supposedly listened to USAC officials and a former IMS boss who all loathed CART and Bill France Jr., who understood that CART was matching stock cars almost stride-for-stride in sponsorship, visibility and popularity.
I believe George thought France, NASCAR and ISC were his allies until a few years ago when he realized they had no interest in seeing his IRL succeed.
Anyway, at that time CART had Nigel Mansell, 28 full-time, sponsored cars, record attendance and good TV ratings in 1993-94-95. It was the worst possible time for George to start another series. He needed somebody with common sense to reason with him that the Indy 500 was the second toughest ticket in sports (behind the Masters) to get and CART may have been run by the greedy and pompous, but it was succeeding on all levels.
He needed somebody to remind him of Cloutier’s quote from the early ‘80s when the IMS boss said: “I don’t know why Indy became such a phenomenon but I do know it’s a fragile formula that we don’t want to mess with.”
Instead, when Tony announced 25 of the 33 spots for 1996 Indy 500 would be reserved for IRL point leaders and suddenly we had Racin’ Gardner and Bronco Brad Murphy competing instead of Michael Andretti, Al Unser Jr. and Emerson Fittipaldi, May took a credibility hit that it’s never recovered from.
Instead of following that tried and true tradition of just counting the money in May, George began spending it on purses, races, teams, promoting and marketing. He spent millions without consequence because he really didn’t value it and it came to him so easily.
His three sisters, also members of the IMS board, were reportedly vehemently all against funding another open wheel series and mother Mari was the only one who could check his power and shut down the revolution but she declined.
TG used the façade the IRL was for American drivers and manufacturers (and it was for a couple years) and to preserve the traditions of IMS when, in reality, it was only for control.
Despite some great finishes, the American public refused to embrace the IRL and it was listing badly earlier this decade when Roger Penske, Toyota and Honda came to its rescue. When the rest of the CART stalwarts like Ganassi, Rahal and Andretti-Green followed suit, the IRL suddenly had new life.
But only because it morphed into everything TG supposedly hated: street races, road courses, engine leases and inflated budgets.
A.J. Foyt called it CART Lite.
Still, by 2008 Champ Car had thrown in the towel and there was one series again for the first time since 1995. George had brokered peace and won the war but, incredibly, didn’t want to be king after all. He said he was happy running his Vision Racing team and had plenty of capable people to take care of IRL/IMS.
Of course a reflection of the 12-year war will show that it was expensive, destructive and needless. Indy-car racing is almost irrelevant in North America because of it and Indy has become a dull, lifeless spec series that’s going to slag along with the same boring equipment for at least two more years, providing it can hang on that long.
George isn’t the only one to blame for its demise but he is the one who pushed the red button.
So what happens now? TG’s sisters, who you certainly can’t blame for being angered and concerned at the estimated $700 million that’s been thrown at the IRL, F1 and the track, finally got the checkbook away from Tony and voted him out. There’s a bean counter in charge now and you can bet some changes are in the offing but Mari’s press release Tuesday stated the family would continue to support the IRL and open wheel racing. It didn’t say for how long or for how much but at least there’s a commitment for the immediate future.
A lot of people are convinced Mari is going to sell the Speedway but she’s always maintained it’s for her grandchildren and not for sale. Those grandkids, Jarrod Krisiloff, Kyle Krisiloff and Tony George Jr. are all working for the IRL right now while Lauren George, Olivia Conforti and Jesika Gunter all figure to be part of the process soon.
The Speedway appears to be in good shape. The Indy crowd was up last May, MOTO GP should be a winner with decent weather and the Brickyard may be half full but should still turn a profit. Indy almost ran itself for 60 years and Tony wasn’t hands on for the last few years anyway.
He didn’t have much input in the day-do-day business of the IRL either but it’s still his baby. He started it, nourished it and now it needs a complete overhaul of its financial pyramid because it’s a consistently big loser.
For now, Indy and IndyCar are still joined at the hip and the open wheel community is breathing a little easier after seeing Mari’s confirmation. It still needs leadership and Tony Cotman is the perfect guy to make the rules and streamline the budgets, yet his input doesn’t seem to be wanted.
As for George, he’s gone from one of the most powerful men in motorsports to the owner of a mid-pack, one-car team in IndyCar. There’s no denying he loves IMS and wanted to make it the pinnacle of all auto racing, which it is. But he wasn’t equipped to lead, he didn’t really have a plan, his passion was misplaced and his endless spending on an inferior product finally did him in.
Tony is not a bad person he just got some bad advice and made some bad decisions that May forever define his legacy.
Thursday, July 2, 2009
IRL needs a leader, but who will it be?
(by John Oreovicz espn.go.com 7-2-09)
INDIANAPOLIS -- In March 1994, Indianapolis Motor Speedway CEO Tony George announced plans to create a new racing series that would preserve the traditions and excitement of American open-wheel oval racing, using the Indianapolis 500 as its centerpiece.
The Indy Racing League staged its first event in January 1996, and after a 12-year struggle, eventually put its unacknowledged competition, the CART/Champ Car World Series, out of business, gaining sole control of what is generically known as Indy car racing.
Fast-forward to the present, and what became known as the IndyCar Series bears little or no resemblance to George's stated goals when he formed the IRL. And now George is no longer even in charge of the league he founded.
An IMS announcement late Tuesday stated that George was being removed from his dual roles as president and CEO of the Speedway and of Hulman & Co., the multifaceted business started in 1850 by Tony's great-great-grandfather, Herman Hulman. Effective immediately.
What the IMS press release did not reveal is that George elected to stand down as the leader of the Indy Racing League.
"He chose not to continue as CEO of the IRL," said Fred Nation, executive vice president of communications for the Indianapolis Motor Speedway. "He is no longer active in the management of any of the companies. He is on the board of directors of all the companies, along with the other members of his family. And of course the board is the ultimate decision-maker."
George was unavailable for comment.
No matter how his actions have been interpreted, even long before the IRL ran its first race, George always maintained that he was not interested in leading the sport.
"It is often said that I was, or am, motivated by power and greed in forming the IRL," he wrote in a five-page letter to the editor of The Indianapolis Star on Oct. 16, 1995. "I can only say it as simply as this: My desire is not now, and never has been, control of CART, IndyCar or the entire series of whatever cars run in the Indianapolis 500 … far from wanting to run the sport, I'd love to see even the IRL develop an autonomy. There is much I would like to do in my life, but I'll be unable to enjoy any of it if the '500' is not secure."
Since the IRL absorbed the remains of the Champ Car World Series in February 2008, George has been the de facto leader of American open-wheel racing. But just when it appeared he had finally grasped the brass ring after a 12-year struggle, he seemed to want to let go. Even though he was perceived as the winner of the CART/IRL war, TG never stepped up into the role of front man.
And while the future of the Indianapolis 500 is likely to remain secure simply because of the event's tradition and stature, the prospects for the sport of IndyCar racing are anything but stable.
The long, bitter struggle for control between the IRL and CART/Champ Car left IndyCar racing decimated, as fans, drivers, sponsors and manufacturers deserted the sport in search of a less political atmosphere. IndyCar racing's critics have long complained about a lack of leadership at the top level of the sport, and now with George's decision to step aside and focus on his own team, Vision Racing, that assessment is more accurate than ever.
George has rarely presided over the day-to-day operations of the IRL, leaving those tasks to Terry Angstadt, president of the league's commercial division, and Brian Barnhart, who is in charge of competition and racing operations.
Angstadt, who joined IMS in 2001 and assumed his current role in 2007, is generally credited with doing a good job for the IndyCar Series in an economic crisis of historic proportion. Barnhart, who has been a key member of the IRL since it started, is a more controversial figure, heavily criticized for the IndyCar Series' recent decline into a spec-car series with processional racing as well as his attempts to micromanage the on-track action.
Both are solidly entrenched in the IRL hierarchy, yet neither is considered a candidate to be the outright leader of the IndyCar Series. And that's the key problem that IndyCar racing faces: If Tony George is not willing or able to be the leader of the sport, who is?
Beyond that, the management shakeup at the IMS and IRL creates serious questions about the long-term financial stability of the sport. It's widely believed and been reported that George invested millions of the Hulman-George family trust fund into the creation and operation of the IRL -- some sources believe more than half a billion dollars. That supply of ready cash is likely to diminish considerably, if not dry up completely, despite statements to the contrary by George's mother -- IMS and Hulman & Co. chairman of the board Mari Hulman George.
"These changes underscore our family's commitment going forward to all of our companies, especially our commitment to the growth of the Indy Racing League and the sport of open-wheel racing," she stated in Tuesday's release. "We believe the Hulman-George family's long stewardship of the Indianapolis Motor Speedway, beginning in 1945, and our significant investment in the Speedway and in the IRL demonstrates that we have full confidence in all of our companies and that we intend to grow them in the future."
What Tony George and his family discovered during the IRL era is that operating a racing series is an extremely expensive proposition, especially when that form of racing has been devalued by a prolonged political battle. But there was plenty of historical evidence out there to provide warning signs.
CART, which ironically was formed in 1979 to address concerns about the Hulman family's prior stewardship of the sport under the guise of the United States Auto Club, burned through an estimated $300 million war chest, generated by an initial public offering, in about six years.
CART filed for bankruptcy in 2003, citing the following "special factors": a downturn in the economy, which resulted in reduced corporate promotional and advertising expenditures; decreased attendance at some venues attributed to the split with the IRL; the departure of two of the series' three engine manufacturers, followed by several key teams financed by those manufacturers; and the loss of several key venues along with the substantial sanctioning fees they generated.
Those conditions required CART to expend significant amounts of capital on entry support programs and team participation payments. CART also began self-promoting events to maintain key race markets, resulting in additional multimillion-dollar losses. Finally, CART also lost a significant revenue stream when it was forced to buy airtime and/or bear production costs for its race telecasts.
The IRL has been following that exact same path to destruction.
So now, the IRL is facing the overriding key issue that ultimately led to CART's demise: Who is going to run the show? In its 25-year history, CART never did find the right person who could manage the company and serve as a dynamic front man for the sport.
Bruce McCaw, who owned the PacWest Racing team that competed in CART from 1994 to 2001, said he believes that CART did have a strong leader during its most successful period in the 1990s -- ironically, the time span in which relations with the Indianapolis Motor Speedway deteriorated, prompting George to create the IRL.
"I think we did have a great leader in Andrew Craig [CART CEO from 1993 to 2000], but the board and the team owners made it impossible for him to succeed," McCaw said. "That was the big challenge for Andrew. After that, we never had the right people to lead it."
George's weaknesses as a public speaker are well known, but at least he had his family's 60-year association with the Indianapolis Motor Speedway and Indy 500 as a basis for why he should be considered for a leadership role for the sport as a whole. There really aren't any similarly qualified candidates out there.
This year, the Indianapolis Motor Speedway kicked off a three-year-long "Centennial Era" celebration set to culminate in May 2011, with the 100th anniversary of the first Indianapolis 500.
But at this juncture, IndyCar racing's fans and participants can only hope that their downtrodden sport still exists in some shape or form by then.
INDIANAPOLIS -- In March 1994, Indianapolis Motor Speedway CEO Tony George announced plans to create a new racing series that would preserve the traditions and excitement of American open-wheel oval racing, using the Indianapolis 500 as its centerpiece.
The Indy Racing League staged its first event in January 1996, and after a 12-year struggle, eventually put its unacknowledged competition, the CART/Champ Car World Series, out of business, gaining sole control of what is generically known as Indy car racing.
Fast-forward to the present, and what became known as the IndyCar Series bears little or no resemblance to George's stated goals when he formed the IRL. And now George is no longer even in charge of the league he founded.
An IMS announcement late Tuesday stated that George was being removed from his dual roles as president and CEO of the Speedway and of Hulman & Co., the multifaceted business started in 1850 by Tony's great-great-grandfather, Herman Hulman. Effective immediately.
What the IMS press release did not reveal is that George elected to stand down as the leader of the Indy Racing League.
"He chose not to continue as CEO of the IRL," said Fred Nation, executive vice president of communications for the Indianapolis Motor Speedway. "He is no longer active in the management of any of the companies. He is on the board of directors of all the companies, along with the other members of his family. And of course the board is the ultimate decision-maker."
George was unavailable for comment.
No matter how his actions have been interpreted, even long before the IRL ran its first race, George always maintained that he was not interested in leading the sport.
"It is often said that I was, or am, motivated by power and greed in forming the IRL," he wrote in a five-page letter to the editor of The Indianapolis Star on Oct. 16, 1995. "I can only say it as simply as this: My desire is not now, and never has been, control of CART, IndyCar or the entire series of whatever cars run in the Indianapolis 500 … far from wanting to run the sport, I'd love to see even the IRL develop an autonomy. There is much I would like to do in my life, but I'll be unable to enjoy any of it if the '500' is not secure."
Since the IRL absorbed the remains of the Champ Car World Series in February 2008, George has been the de facto leader of American open-wheel racing. But just when it appeared he had finally grasped the brass ring after a 12-year struggle, he seemed to want to let go. Even though he was perceived as the winner of the CART/IRL war, TG never stepped up into the role of front man.
And while the future of the Indianapolis 500 is likely to remain secure simply because of the event's tradition and stature, the prospects for the sport of IndyCar racing are anything but stable.
The long, bitter struggle for control between the IRL and CART/Champ Car left IndyCar racing decimated, as fans, drivers, sponsors and manufacturers deserted the sport in search of a less political atmosphere. IndyCar racing's critics have long complained about a lack of leadership at the top level of the sport, and now with George's decision to step aside and focus on his own team, Vision Racing, that assessment is more accurate than ever.
George has rarely presided over the day-to-day operations of the IRL, leaving those tasks to Terry Angstadt, president of the league's commercial division, and Brian Barnhart, who is in charge of competition and racing operations.
Angstadt, who joined IMS in 2001 and assumed his current role in 2007, is generally credited with doing a good job for the IndyCar Series in an economic crisis of historic proportion. Barnhart, who has been a key member of the IRL since it started, is a more controversial figure, heavily criticized for the IndyCar Series' recent decline into a spec-car series with processional racing as well as his attempts to micromanage the on-track action.
Both are solidly entrenched in the IRL hierarchy, yet neither is considered a candidate to be the outright leader of the IndyCar Series. And that's the key problem that IndyCar racing faces: If Tony George is not willing or able to be the leader of the sport, who is?
Beyond that, the management shakeup at the IMS and IRL creates serious questions about the long-term financial stability of the sport. It's widely believed and been reported that George invested millions of the Hulman-George family trust fund into the creation and operation of the IRL -- some sources believe more than half a billion dollars. That supply of ready cash is likely to diminish considerably, if not dry up completely, despite statements to the contrary by George's mother -- IMS and Hulman & Co. chairman of the board Mari Hulman George.
"These changes underscore our family's commitment going forward to all of our companies, especially our commitment to the growth of the Indy Racing League and the sport of open-wheel racing," she stated in Tuesday's release. "We believe the Hulman-George family's long stewardship of the Indianapolis Motor Speedway, beginning in 1945, and our significant investment in the Speedway and in the IRL demonstrates that we have full confidence in all of our companies and that we intend to grow them in the future."
What Tony George and his family discovered during the IRL era is that operating a racing series is an extremely expensive proposition, especially when that form of racing has been devalued by a prolonged political battle. But there was plenty of historical evidence out there to provide warning signs.
CART, which ironically was formed in 1979 to address concerns about the Hulman family's prior stewardship of the sport under the guise of the United States Auto Club, burned through an estimated $300 million war chest, generated by an initial public offering, in about six years.
CART filed for bankruptcy in 2003, citing the following "special factors": a downturn in the economy, which resulted in reduced corporate promotional and advertising expenditures; decreased attendance at some venues attributed to the split with the IRL; the departure of two of the series' three engine manufacturers, followed by several key teams financed by those manufacturers; and the loss of several key venues along with the substantial sanctioning fees they generated.
Those conditions required CART to expend significant amounts of capital on entry support programs and team participation payments. CART also began self-promoting events to maintain key race markets, resulting in additional multimillion-dollar losses. Finally, CART also lost a significant revenue stream when it was forced to buy airtime and/or bear production costs for its race telecasts.
The IRL has been following that exact same path to destruction.
So now, the IRL is facing the overriding key issue that ultimately led to CART's demise: Who is going to run the show? In its 25-year history, CART never did find the right person who could manage the company and serve as a dynamic front man for the sport.
Bruce McCaw, who owned the PacWest Racing team that competed in CART from 1994 to 2001, said he believes that CART did have a strong leader during its most successful period in the 1990s -- ironically, the time span in which relations with the Indianapolis Motor Speedway deteriorated, prompting George to create the IRL.
"I think we did have a great leader in Andrew Craig [CART CEO from 1993 to 2000], but the board and the team owners made it impossible for him to succeed," McCaw said. "That was the big challenge for Andrew. After that, we never had the right people to lead it."
George's weaknesses as a public speaker are well known, but at least he had his family's 60-year association with the Indianapolis Motor Speedway and Indy 500 as a basis for why he should be considered for a leadership role for the sport as a whole. There really aren't any similarly qualified candidates out there.
This year, the Indianapolis Motor Speedway kicked off a three-year-long "Centennial Era" celebration set to culminate in May 2011, with the 100th anniversary of the first Indianapolis 500.
But at this juncture, IndyCar racing's fans and participants can only hope that their downtrodden sport still exists in some shape or form by then.
George's mother 'surprised,' 'disappointed' by resignation
(by Curt Cavin indystar.com 7-2-09)
Tony George's resignation as chief executive officer of the Indy Racing League this week came as a surprise to his boss.
George's mother, Mari Hulman George, the chairman of the board for Indianapolis Motor Speedway Corp., said Wednesday she still can't explain why Tony George vacated the position after being replaced as president and chief executive officer of Indianapolis Motor Speedway Corp. and Hulman & Co.
"I was surprised, and I'm still surprised," George said in a telephone interview from her home in Terre Haute. "I don't really understand. I'm disappointed that he didn't want to continue."
Tony George declined to comment until he posts a statement next week on Vision Racing's Web site. He co-owns the IndyCar Series team with his wife, Laura.
Tony George, who retains a board seat at IMS Corp., is expected to negotiate a contract with the board to serve as a consultant to the IRL and perhaps the Speedway. Both subsidiaries will report to his successor at IMS Corp., Jeff Belskus.
Mari Hulman George said her son didn't want to be an intermediary between IRL presidents Brian Barnhart (competition) and Terry Angstadt (commercial) and Belskus. Tony George hired them.
"He's got a lot of confidence in who he's got, and he just felt he didn't want to get in their way," she said. "It really wouldn't be like that. There are other things to do."
George, 74, said she did not consider retiring as board chairman.
"I said I really didn't think it was the time to do that," she said, adding, "that I really am getting up to where I wouldn't mind."
George also said Belskus and Curt Brighton, who was named the president and CEO of Hulman & Co., which controls the family's real estate, banking and investment properties, were "kind of surprised" to learn of their new roles. She described the family power struggle that led to Tony George's resignation as "not that unusual."
But she acknowledged there is no certainty for the company as it moves forward.
"We'll keep our fingers crossed and hope everything goes well," she said. "I don't know what's going to happen next."
Meanwhile, those in the motor sports industry are trying to come to grips with the changes.
Belskus, who knew Tony George from their younger days in Terre Haute and as students at Indiana State, has worked for the Hulman-George family since 1987, most recently as its chief financial officer.
Most people know him as a quiet, guarded numbers expert.
"He's not a public figure, and I don't think he has any desire to be," said Zak Brown, the founder and CEO of Just Marketing International, a Zionsville-based company that pursues motor sports sponsorship packages.
"He's got good business acumen. He's a good, level-headed businessman."
Where Belskus stands on financial support for the IRL or other Speedway endeavors remains to be seen. An IMS spokesman said Belskus wants time to absorb his new role before speaking publicly.
Belskus is not expected to attend this weekend's race at Watkins Glen, N.Y.
Tony George's resignation as chief executive officer of the Indy Racing League this week came as a surprise to his boss.
George's mother, Mari Hulman George, the chairman of the board for Indianapolis Motor Speedway Corp., said Wednesday she still can't explain why Tony George vacated the position after being replaced as president and chief executive officer of Indianapolis Motor Speedway Corp. and Hulman & Co.
"I was surprised, and I'm still surprised," George said in a telephone interview from her home in Terre Haute. "I don't really understand. I'm disappointed that he didn't want to continue."
Tony George declined to comment until he posts a statement next week on Vision Racing's Web site. He co-owns the IndyCar Series team with his wife, Laura.
Tony George, who retains a board seat at IMS Corp., is expected to negotiate a contract with the board to serve as a consultant to the IRL and perhaps the Speedway. Both subsidiaries will report to his successor at IMS Corp., Jeff Belskus.
Mari Hulman George said her son didn't want to be an intermediary between IRL presidents Brian Barnhart (competition) and Terry Angstadt (commercial) and Belskus. Tony George hired them.
"He's got a lot of confidence in who he's got, and he just felt he didn't want to get in their way," she said. "It really wouldn't be like that. There are other things to do."
George, 74, said she did not consider retiring as board chairman.
"I said I really didn't think it was the time to do that," she said, adding, "that I really am getting up to where I wouldn't mind."
George also said Belskus and Curt Brighton, who was named the president and CEO of Hulman & Co., which controls the family's real estate, banking and investment properties, were "kind of surprised" to learn of their new roles. She described the family power struggle that led to Tony George's resignation as "not that unusual."
But she acknowledged there is no certainty for the company as it moves forward.
"We'll keep our fingers crossed and hope everything goes well," she said. "I don't know what's going to happen next."
Meanwhile, those in the motor sports industry are trying to come to grips with the changes.
Belskus, who knew Tony George from their younger days in Terre Haute and as students at Indiana State, has worked for the Hulman-George family since 1987, most recently as its chief financial officer.
Most people know him as a quiet, guarded numbers expert.
"He's not a public figure, and I don't think he has any desire to be," said Zak Brown, the founder and CEO of Just Marketing International, a Zionsville-based company that pursues motor sports sponsorship packages.
"He's got good business acumen. He's a good, level-headed businessman."
Where Belskus stands on financial support for the IRL or other Speedway endeavors remains to be seen. An IMS spokesman said Belskus wants time to absorb his new role before speaking publicly.
Belskus is not expected to attend this weekend's race at Watkins Glen, N.Y.
George Attained Major Goal
(by Bruce Martin versus.com 7-1-09)
Not even Tony George could withstand the ire of his three sisters, who ganged up on their brother and ousted him as President and CEO of the Indianapolis Motor Speedway Corporation but in the end, Tony’s ultimate decision was quite clear: Either I run all of it, or I run none of it.
Not only did George agree to leave his role as the ultimate leader of all Hulman George companies, he turned down the one job the family actually wanted him to take – to be the CEO and leader of the Indy Racing League, the sanctioning body of the IndyCar Series.
As of today, George is just a member of the board of the family-owned IMS Corporation. For the man who led the company when he assumed the roles of president and CEO in 1990 until Tuesday’s board meeting, he guided the company through a period of unprecedented growth even if he had to broker the popularity of the Indianapolis 500 to make that happen.
While his lasting legacy will be the creation of a new series in 1994 that began competition in January 1996 as the Indy Racing League – and the ultimate split of the sport when teams from CART abandoned the Indianapolis 500 before slowly returning with team owner Chip Ganassi in 2000 and team owner Roger Penske in 2001 – he accomplished his one major goal. That was to bring the sport of IndyCar racing and the Indianapolis 500 under the same umbrella of leadership for the first time since 1978.
When George and the IRL were able to outlast CART and later Champ Car, he was able to orchestrate unification with Champ Car boss Kevin Kalkhoven in February 2008.
When George made the official announcement at Homestead-Miami Speedway flanked by drivers and team owners from a newly unified series, he never appeared more confident in his role as the unquestioned leader of IndyCar Series.
Instead of the hesitating and stammering, as has been his trademark throughout the years, George spoke with clarity and confidence.
The sport was on an upward path and IndyCar was finally able to become relevant again.
Attendance was up at many of its venues, the crowd at the 2008 Indy 500 was packed, car counts for regular races was as high as 28 and there were actually more cars entered in the Indianapolis 500 than the 33-car starting lineup which meant bumping had returned to Bump Day.
Companies such as IZOD saw value in the IndyCar product and signed a sponsorship and licensing agreement with the series on July 4, 2008. In an effort to better tell its story, IndyCar abandoned ESPN to take a gamble on cable TV partner VERSUS so that the story of the series could finally be told.
With Terry Angstadt as president of the commercial division of the IndyCar Series, new deals were being developed. Capital One and Subway were ready to sign lucrative sponsorship agreements with one of the entities becoming the series sponsor – something IndyCar hasn’t had since Northern Light in 2000.
But when Wall Street giant Lehman Brothers investment bank collapsed on September 15, 2008, it triggered a collapse on Wall Street that sent the financial world into a tailspin.
And that, more than anything else, is what led to the George’s ouster, not because of the money he spent over the years to upgrade and improve the Indianapolis Motor Speedway, or to bring Formula One to the United States from 2000-2007 or the development of the SAFER Barrier which may be one of the greatest safety innovations in auto racing in our lifetime, but the fact the Hulman George family fortune shrunk with the stock market collapse.
Now, it should be pointed out that the Hulman George family is still wealthy, its financial portfolio is worth less today than it was a year ago. But that can be said about many others who have diversified their holdings with financial investments in the market.
So when George’s sisters, Josie, Nancy and Kathi Conforti started to ask, “Hey, what happened to all of our money?” they couldn’t attack anyone at Wall Street or the United States Government.
The only person they could vent their frustration at was Tony George, who reportedly has spent as much as $600 million since 1996, but it’s likely that amount of money was recouped throughout the years by the gate at the Indianapolis 500 and for many years, the Brickyard 400 before it fell on hard times with declining attendance the past five years.
For anyone who knows the history of the Hulman George family, it can be rather contentious – probably not much different than other families around the globe. But most of those families aren’t rich and money often outweighs family loyalty.
So the sisters turned on Tony. Reports of screaming and shouting in board meetings and family gatherings began to surface. One report that was never substantiated was Josie threw her checkbook at Tony in the May 26 board meeting and screamed, “You’ve spent all my money so here, go ahead and spend the rest of it.”
George had already lost his power as CEO after that meeting but when news leaked out that he was ousted, even the sisters had to be surprised at the backlash that followed. George’s mother, Mari Hulman George, issued a statement saying her son was still in power and George met television reporters to say he was still in charge but as the days went on, it became obvious while he still had the title, his decision making power had been stripped.
His fellow IndyCar team owners rallied around George and signed a letter of support that they sent to Mari Hulman George on May 31 urging the board to keep Tony in charge.
Their minds were already made up and when all three sisters, along with Indianapolis attorney Jack Snyder (the only non-family member of the board) voted to oust Tony, it’s likely they expected he would move over to run the IRL.
But in this instance, Tony had the last word.
Either I run all of it, or I run none of it.
And with that, George has stepped away. His vote on the board carries the same weight as Josie’s or Nancy’s or Kathi’s. He will continue to be involved as the owner of Vision Racing but he is no longer in charge of plotting the course of the Speedway or of the IndyCar Series.
Or, maybe he is?
George has been replaced by W. Curtis Brighton and Jeffrey G. Belskus, already members of the executive staff who will both head the Hulman-George companies effective July 1.
Brighton, was previously executive vice president and chief legal counsel, and is now president and CEO of Hulman & Company. Belskus, previously executive vice president and chief financial officer for the companies, is now the president and CEO of the Indianapolis Motor Speedway Corporation.
It’s the first time since the late Joe Cloutier was at the helm that someone other than a member of the Hulman George family has been in control of the company.
Both of these men are close associates of Tony George and both are from Terre Haute, Indiana – George’s hometown.
So when a decision has to be made, which member of the board do you think it going to get the phone call for advice – Josie or Tony?
And don’t be surprised if one day, George regains his power of authority within in the company because the three sisters are going to realize that their brother probably had a better understanding of the business than they gave him credit for.
One of these days, Mari Hulman George will step down as Chairman of the Board of the Indianapolis Motor Speedway, Corporation and a family member will assume that role.
The only family member that deserves that position is Tony George.
As for now, the Admiral has left the deck of the ship and the Captains and Lieutenants are in charge of steering its course.
Knowing both Brighton and Belskus, it’s likely they won’t veer too far off course because they have been heavily involved with the company for two decades.
But when IndyCar was showing signs of growth and improvement, the uncertainty regarding leadership couldn’t have come at a more curious time.
“You can’t pick your families,” said IndyCar Series driver Scott Dixon, who won both the IndyCar title and the Indianapolis 500 in 2008. “Everybody goes through that crap in their life at some point. Any person you have a relationship with nine times out of 10 you don’t see eye-to-eye with them. But they are on a much bigger scale than I’ve ever had to deal with. I don’t think it’s good news but I don’t think it’s bad news either. He hired those people and obviously he has faith in them and is chasing the same vision as he did so that is good.
“I don’t think it changes how I look at Tony George, though," he continued. "I don’t know the ins and outs and what it means but I think it’s kinda sad. He’s not being involved at all on any of that stuff now. Until we see how it flushes out, I don’t know. If it continues to run as it has been and everybody is heading in the right direction to make the IndyCar Series successful it won’t make a huge difference but it’s unfortunate because Tony did a hell of a lot and does a hell of a lot.”
What impact it has on the IndyCar Series is unclear.
“I don’t think it is as big a deal as people make it seem,” driver Graham Rahal said. “Mari (Hulman-George) wrote an email that made it pretty clear she is fully behind the IndyCar Series and the family wanted to see it succeed and the family is behind it as much as ever. Until proven otherwise, you have to believe what is said. I think everything will be all right. I’m not sure it is going to change much at all. When I saw Tony I thought of him as a rival team owner any way. I don’t think it will change much. At the end of the day I don’t know what the circumstances were but someone felt it was time to change and that is what happened. I still feel comfortable and confident that the sport will move forward. I’m not worried about it. I think the sport will be just fine. I’ve been in IndyCar a short time and things have gone well for us. I don’t think things will change that much and a little change might not be a bad thing.
“We will see.”
The good thing is the Indianapolis 500 runs on its own energy. Through ups and downs, the race continues to survive. And time will tell what effect it has on the IndyCar Series – only time will tell on that matter. But look for Angstadt and Barnhart to step up and assert more of their authority in control of the IndyCar Series now that they have been empowered more.
But the laws of unintended consequences can come into play, too. And nobody can predict that.
As the sport looks for leadership, George could have been that man. He survived the bad times trying to start the IRL, stayed the course through the long split and was there to help bring the sport together in February 2008.
But in the end, he couldn’t outlast his sisters, who showed growing concern about the family fortune and how it has diminished for a variety of reasons, mostly because of the economic collapse that happened last September.
That should not diminish the accomplishments George has had during his term as president and CEO that began in 1990 which include bringing NASCAR to the Speedway beginning in 1994 with the Inaugural Brickyard 400, the creation of the Indy Racing League that eventually won total control of the sport in 2008, the creation and implementation of the SAFER Barrier in 2002 and bringing Formula One back to the United States from 2000-2007.
As the Indianapolis Motor Speedway celebrates its 100th birthday in 2009, much of the focus was going to be on the glorious past of the “Greatest Race Course in the World.”
Now, it must deal with changes that will shape the future of the Speedway and the IndyCar Series.
Not even Tony George could withstand the ire of his three sisters, who ganged up on their brother and ousted him as President and CEO of the Indianapolis Motor Speedway Corporation but in the end, Tony’s ultimate decision was quite clear: Either I run all of it, or I run none of it.
Not only did George agree to leave his role as the ultimate leader of all Hulman George companies, he turned down the one job the family actually wanted him to take – to be the CEO and leader of the Indy Racing League, the sanctioning body of the IndyCar Series.
As of today, George is just a member of the board of the family-owned IMS Corporation. For the man who led the company when he assumed the roles of president and CEO in 1990 until Tuesday’s board meeting, he guided the company through a period of unprecedented growth even if he had to broker the popularity of the Indianapolis 500 to make that happen.
While his lasting legacy will be the creation of a new series in 1994 that began competition in January 1996 as the Indy Racing League – and the ultimate split of the sport when teams from CART abandoned the Indianapolis 500 before slowly returning with team owner Chip Ganassi in 2000 and team owner Roger Penske in 2001 – he accomplished his one major goal. That was to bring the sport of IndyCar racing and the Indianapolis 500 under the same umbrella of leadership for the first time since 1978.
When George and the IRL were able to outlast CART and later Champ Car, he was able to orchestrate unification with Champ Car boss Kevin Kalkhoven in February 2008.
When George made the official announcement at Homestead-Miami Speedway flanked by drivers and team owners from a newly unified series, he never appeared more confident in his role as the unquestioned leader of IndyCar Series.
Instead of the hesitating and stammering, as has been his trademark throughout the years, George spoke with clarity and confidence.
The sport was on an upward path and IndyCar was finally able to become relevant again.
Attendance was up at many of its venues, the crowd at the 2008 Indy 500 was packed, car counts for regular races was as high as 28 and there were actually more cars entered in the Indianapolis 500 than the 33-car starting lineup which meant bumping had returned to Bump Day.
Companies such as IZOD saw value in the IndyCar product and signed a sponsorship and licensing agreement with the series on July 4, 2008. In an effort to better tell its story, IndyCar abandoned ESPN to take a gamble on cable TV partner VERSUS so that the story of the series could finally be told.
With Terry Angstadt as president of the commercial division of the IndyCar Series, new deals were being developed. Capital One and Subway were ready to sign lucrative sponsorship agreements with one of the entities becoming the series sponsor – something IndyCar hasn’t had since Northern Light in 2000.
But when Wall Street giant Lehman Brothers investment bank collapsed on September 15, 2008, it triggered a collapse on Wall Street that sent the financial world into a tailspin.
And that, more than anything else, is what led to the George’s ouster, not because of the money he spent over the years to upgrade and improve the Indianapolis Motor Speedway, or to bring Formula One to the United States from 2000-2007 or the development of the SAFER Barrier which may be one of the greatest safety innovations in auto racing in our lifetime, but the fact the Hulman George family fortune shrunk with the stock market collapse.
Now, it should be pointed out that the Hulman George family is still wealthy, its financial portfolio is worth less today than it was a year ago. But that can be said about many others who have diversified their holdings with financial investments in the market.
So when George’s sisters, Josie, Nancy and Kathi Conforti started to ask, “Hey, what happened to all of our money?” they couldn’t attack anyone at Wall Street or the United States Government.
The only person they could vent their frustration at was Tony George, who reportedly has spent as much as $600 million since 1996, but it’s likely that amount of money was recouped throughout the years by the gate at the Indianapolis 500 and for many years, the Brickyard 400 before it fell on hard times with declining attendance the past five years.
For anyone who knows the history of the Hulman George family, it can be rather contentious – probably not much different than other families around the globe. But most of those families aren’t rich and money often outweighs family loyalty.
So the sisters turned on Tony. Reports of screaming and shouting in board meetings and family gatherings began to surface. One report that was never substantiated was Josie threw her checkbook at Tony in the May 26 board meeting and screamed, “You’ve spent all my money so here, go ahead and spend the rest of it.”
George had already lost his power as CEO after that meeting but when news leaked out that he was ousted, even the sisters had to be surprised at the backlash that followed. George’s mother, Mari Hulman George, issued a statement saying her son was still in power and George met television reporters to say he was still in charge but as the days went on, it became obvious while he still had the title, his decision making power had been stripped.
His fellow IndyCar team owners rallied around George and signed a letter of support that they sent to Mari Hulman George on May 31 urging the board to keep Tony in charge.
Their minds were already made up and when all three sisters, along with Indianapolis attorney Jack Snyder (the only non-family member of the board) voted to oust Tony, it’s likely they expected he would move over to run the IRL.
But in this instance, Tony had the last word.
Either I run all of it, or I run none of it.
And with that, George has stepped away. His vote on the board carries the same weight as Josie’s or Nancy’s or Kathi’s. He will continue to be involved as the owner of Vision Racing but he is no longer in charge of plotting the course of the Speedway or of the IndyCar Series.
Or, maybe he is?
George has been replaced by W. Curtis Brighton and Jeffrey G. Belskus, already members of the executive staff who will both head the Hulman-George companies effective July 1.
Brighton, was previously executive vice president and chief legal counsel, and is now president and CEO of Hulman & Company. Belskus, previously executive vice president and chief financial officer for the companies, is now the president and CEO of the Indianapolis Motor Speedway Corporation.
It’s the first time since the late Joe Cloutier was at the helm that someone other than a member of the Hulman George family has been in control of the company.
Both of these men are close associates of Tony George and both are from Terre Haute, Indiana – George’s hometown.
So when a decision has to be made, which member of the board do you think it going to get the phone call for advice – Josie or Tony?
And don’t be surprised if one day, George regains his power of authority within in the company because the three sisters are going to realize that their brother probably had a better understanding of the business than they gave him credit for.
One of these days, Mari Hulman George will step down as Chairman of the Board of the Indianapolis Motor Speedway, Corporation and a family member will assume that role.
The only family member that deserves that position is Tony George.
As for now, the Admiral has left the deck of the ship and the Captains and Lieutenants are in charge of steering its course.
Knowing both Brighton and Belskus, it’s likely they won’t veer too far off course because they have been heavily involved with the company for two decades.
But when IndyCar was showing signs of growth and improvement, the uncertainty regarding leadership couldn’t have come at a more curious time.
“You can’t pick your families,” said IndyCar Series driver Scott Dixon, who won both the IndyCar title and the Indianapolis 500 in 2008. “Everybody goes through that crap in their life at some point. Any person you have a relationship with nine times out of 10 you don’t see eye-to-eye with them. But they are on a much bigger scale than I’ve ever had to deal with. I don’t think it’s good news but I don’t think it’s bad news either. He hired those people and obviously he has faith in them and is chasing the same vision as he did so that is good.
“I don’t think it changes how I look at Tony George, though," he continued. "I don’t know the ins and outs and what it means but I think it’s kinda sad. He’s not being involved at all on any of that stuff now. Until we see how it flushes out, I don’t know. If it continues to run as it has been and everybody is heading in the right direction to make the IndyCar Series successful it won’t make a huge difference but it’s unfortunate because Tony did a hell of a lot and does a hell of a lot.”
What impact it has on the IndyCar Series is unclear.
“I don’t think it is as big a deal as people make it seem,” driver Graham Rahal said. “Mari (Hulman-George) wrote an email that made it pretty clear she is fully behind the IndyCar Series and the family wanted to see it succeed and the family is behind it as much as ever. Until proven otherwise, you have to believe what is said. I think everything will be all right. I’m not sure it is going to change much at all. When I saw Tony I thought of him as a rival team owner any way. I don’t think it will change much. At the end of the day I don’t know what the circumstances were but someone felt it was time to change and that is what happened. I still feel comfortable and confident that the sport will move forward. I’m not worried about it. I think the sport will be just fine. I’ve been in IndyCar a short time and things have gone well for us. I don’t think things will change that much and a little change might not be a bad thing.
“We will see.”
The good thing is the Indianapolis 500 runs on its own energy. Through ups and downs, the race continues to survive. And time will tell what effect it has on the IndyCar Series – only time will tell on that matter. But look for Angstadt and Barnhart to step up and assert more of their authority in control of the IndyCar Series now that they have been empowered more.
But the laws of unintended consequences can come into play, too. And nobody can predict that.
As the sport looks for leadership, George could have been that man. He survived the bad times trying to start the IRL, stayed the course through the long split and was there to help bring the sport together in February 2008.
But in the end, he couldn’t outlast his sisters, who showed growing concern about the family fortune and how it has diminished for a variety of reasons, mostly because of the economic collapse that happened last September.
That should not diminish the accomplishments George has had during his term as president and CEO that began in 1990 which include bringing NASCAR to the Speedway beginning in 1994 with the Inaugural Brickyard 400, the creation of the Indy Racing League that eventually won total control of the sport in 2008, the creation and implementation of the SAFER Barrier in 2002 and bringing Formula One back to the United States from 2000-2007.
As the Indianapolis Motor Speedway celebrates its 100th birthday in 2009, much of the focus was going to be on the glorious past of the “Greatest Race Course in the World.”
Now, it must deal with changes that will shape the future of the Speedway and the IndyCar Series.
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