Tom Kelley and leading entrepreneur Rick Weidinger form partnership in IndyCar team.
Indianapolis, IN (December 16, 2003)--Tom Kelley, owner of Kelley Racing, has announced that Rick Weidinger recently invested and acquired a minority interest in his premier Indy Racing League IndyCar Series team.
"We're very excited that Rick is joining our team," said Tom Kelley, founder and owner of Kelley Racing. "This is no ordinary business relationship, but an extraordinary partnership. I believe that Rick's background and experience as a successful entrepreneur will be extremely beneficial to Kelley Racing. His enthusiasm for the IRL IndyCar Series and our tradition of racing is a great combination for success in 2004 and beyond."
A successful businessman, Weidinger was Chairman, CEO and President of Pontio Communications Company (Austin, TX), which was acquired by a Fortune 100 company in November 2000. Prior to that he was Vice President of Corporate Development for MFS Communications Company, Inc., where he was one of the chief architects for MFS growth and acquisition strategy and had a key role in building it to a multi-billion dollar company. Mr. Weidinger joined MFS at its foundation in 1989. Rick holds an MBA and Law Degree from Creighton University. Tom Kelley said, "Rick's background is in fiber networks but his future is in racetracks."
"Tom Kelley is a leader in professional motorsport and has been involved at its highest levels since the beginning of the IRL. I am proud to call him not just a partner but also a mentor." said Weidinger. "Tom and I share the same vision for the team; World class on track performance, first-class hospitality and best-in-class ratings for our sponsors. Looking at it from the outside, the IRL's success has been outstanding and there is an enormous upside in growth and value, I like the business model."
Passionate for the sport and its people, Weidinger plans to spend the majority of his time working with Tom and the Kelley Racing team. Weidinger resides in Great Falls, Virginia with his wife and their three children, who are all enthused about racing as well.
Kelley Racing was formed in late 1997 when Tom Kelley participated in a partnership with PDM Racing and driver Mark Dismore for the 1997 Indianapolis 500 and succeeding Indy Racing League events. In 1998, Kelley Racing began its first full season in the Indy Racing League with drivers Scott Sharp and Mark Dismore. Over the next six seasons of competition, Kelley Racing has made 153 starts, collected nine wins and scored eight poles. Kelley Racing currently plans to field one entry for the 2004 IndyCar Series for driver Scott Sharp.