Belskus again states that IndyCar is not for sale

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Reports circulated today that a group led by Anton (Tony) H. George has presented to the board of Hulman & Company a proposal to take over the IndyCar Series.

The group supposedly includes: Chip Ganassi, Roger Penske, Michael Andretti, Kevin Kalkhoven and Zac Brown. No doubt many will recall that Kalkhoven was a principal partner in the former Champ Car World Series that ended up merging with IndyCar.

This is not the first time that a report of a George-led takeover was in the works. In 2010, he was apparently attempting a takeover by getting a group together, but nothing ever came of it. In the middle of the 2012 season, an apparent alliance with several of the IndyCar teams was formed for the same reason, to place George back in command of the series. That too was denied.

Honorary green flag ceremony: IMS executive Jeff Belskus
Honorary green flag ceremony: IMS executive Jeff Belskus

Photo by: Eric Gilbert

Today’s latest news again puts George in the limelight, along with Randy Bernard's tenure as president and CEO. According to the Sports Business Journal, 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.”

Jeff Belskus, President and CEO of Hulman & Company responded to the inquires by saying, “The IZOD IndyCar Series is not for sale, and representatives from Hulman & Company and the Indianapolis Motor Speedway Corporation have not received or considered any offers to purchase the series.”

Mari Hulman George is majority owner of shares and chairman of Hulman & Co. and the Indianapolis Motor Speedway as well as being Tony George's mother which of course, makes the rumors more interesting. The indications are that Tony George only wants the IndyCar Series and that he is not asking Hulman & Co. to relinquish its would majority ownership of Indianapolis Motor Speedway and the Indianapolis 500.

"Further, executive management from both Hulman & Company and IMSC maintain continuous and open dialogue with INDYCAR team owners about numerous issues related to the IZOD IndyCar Series, and no INDYCAR team owner formally or informally approached either organization about purchasing the IZOD IndyCar Series,” added Belskus.

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Series INDYCAR
Article type Rumors
Tags belskus, featured, hulman, indycar, izod, rumor