Tony George Removed as CEO of Indianapolis Motor Speedway

[Tim Northcutt]

According to an article by Robin Miller, the IMS Board voted him out last night.

he will remain as CEO of the IndyCar Series, where he will be more hands-on in running the series, according to the report.

Here is the link to the story:

http://auto-racing.speedtv.com/artic...sted-from-ims/

[ensign14]

15 years too late. $600m of the family fortune wasted on making sure American short-track oval racers could race at Indianapolis.

Which they are.

In stock cars.

His regime has been nothing short of catastrophic and has destroyed the Greatest Spectacle in Racing. Indy 500 winners not able to qualify in 43 car fields. Farcical bump days where we have the 33 entrants desperately trying to fill 33 places. A one-groove formula where overtaking is more difficult than Monaco. Innovation actually banned in the interests of keeping the field full of Milka Dunos.

In 1993 CART could have challenged F1. It had the reigning world champion, it had ex-champs, it had big US names, at a time when the world was being bored by an apathetic who popped back in to win a title in the most dominant car for a long time and then vanished again.

Then Tony George had his little tantrum.

Goodbye, Tony. Don't let the door hit you on the way out.

[Tim Northcutt]

Looks like Robin Miller had it wrong...apparently, SpeedTV may have pulled the story now, and Tony George held a news conference refuting the story..

http://www.theindychannel.com/sports...35/detail.html

Guess the door won't be "hitting him on the way out" after all....Typical Robin Miller....

[Tim Northcutt]

This brief report from the Indy Star even has a quote from Mary Hulman George in it...

I'm sure that more detailed reports will come...

http://www.indystar.com/article/2009...+charge+of+IMS

[ensign14]

Well, if they are not ousting him, they are stupid.

[AndrewF31]

Didn't know about this:

"After being named IMS president in January of 1990, George attempted to purchase CART in 1991 but was rejected and angered by the overall attitude of the car owners. He vowed on the flight home to remedy that situation some day.

George. who felt unappreciated by the CART owners who seldom sought his opinion, dropped a bombshell in '94 when he announced he was starting his own series. In 1996, the Indy Racing League debuted in Orlando using old CART cars and engines.

But he created a firestorm by reserving 25 of the 33 starting spots for the Indianapolis 500 for the Top 25 in IRL points after Orlando and Phoenix. CART opted to stage its own 500-mile race at Michigan on the same day and the costly open wheel war escalated."

Tony didn't like being shutdown by the other CART owners so he proceeded to destroy everything. Oh well.

[mountainstar]

It would appear the reports are indeed true, that there was a separate meeting without Mr. George and he has been told to find his replacement and a suitable one at that by the end of the year. Also it would seem the purse strings of the hulman businesses funding the irl are cut, that tony will now be cast adrift with the irl and it shall sink or swim.

Many have knocked me on this forum over the years for my assertion that the Hulman Trust was not an ever ending pot of money and that someday as the money continued to bleed that the family would put the clamps on tony and that day is now arriving. Clearly they were wrong and I was right. Obviously to avoid the "tony george is fired" headlines for the few that actually care anymore, the family circled the wagons to restate the obvious, but the ending is near.

One race does not a championship make and it is funny how history repeats itself as we relive 1977-78 with growing rumors of a team owner insurrection, family disharmony at the speedway, a backwoods insular management of a falling apart series, etc.

Could another White Paper be coming down the pike? Let's hope so.

I predict regardless within 2-3 years the irl will either be bought out or a much reduced size.

[mountainstar]

Originally Posted by AndrewF31

Didn't know about this:

"After being named IMS president in January of 1990, George attempted to purchase CART in 1991 but was rejected and angered by the overall attitude of the car owners. He vowed on the flight home to remedy that situation some day.

Tony didn't like being shutdown by the other CART owners so he proceeded to destroy everything. Oh well.

What you also might not know at that 1991 meeting, the presentation tony george did was described by pat patrick as being one of the most amateur business presentations he had ever seen. Others described it as embarassing at best. Essentially he wanted the team owners to hand over power to him, a guy in his early 30's with no experience at all.

I would describe him destroying everything as "We destroyed the village to save it".

[Canada ALMS fan]

Good riddance, I hope he does go! Mountainstar, where are you hearing about the second meeting without George?

[Tim Northcutt]

So...The Chairman Emeritus of the Indianapolis Motor Speedway, who was quoted directly, did no know about this "second meeting" that has removed Tony George? She told Curt Cavin that the story was not true

Read the link from the Indy Star...

There very well could be more to this...since it is a private company, we may not know for weeks or months....

All I know is that what Robin Miller reported today vs. what the IMS and especially the Grand Dame of the facility, Mari Hulman George, said was that the story was not correct...

Maybe someone got tired of Robin's attitude and hung him out to dry...who knows?

But from what I know as of today, he has egg on his face from the "anonymous source" who just got ***** slapped by the people who "would" know, becuase that Board is mostly members of the Hulman family....

Maybe Kalkhoven will step in and spend his money...Sure...Hewas going to "Bury the Hulman Family" when he was the kingpin at Champ Car...Remember???

Don't take offense about the last comment...because that should be behind us....it is over...

At least for some of us it is....

[Tim Northcutt]

Originally Posted by mountainstar

What you also might not know at that 1991 meeting, the presentation tony george did was described by pat patrick as being one of the most amateur business presentations he had ever seen. Others described it as embarassing at best. Essentially he wanted the team owners to hand over power to him, a guy in his early 30's with no experience at all.

I would describe him destroying everything as "We destroyed the village to save it".

He wanted a seat on CART's Board and wanted a say in how OW racing was run by the recognized sanctioning body, because the owners had too much stake in their own self interests against each other than what was going on at that time in the sport....

That is the way that "objective" journalists reported it....

If anyone has the creds as an "insider" directly...no "I have sources" (aka. Robin Miller's today, since the IMS basically trashed his story)...please share those with us....

If you know and you are involved closely within the Open Wheel/Indycar Series and you have the dirt from someone at IMS who told you directly, please share...

the rest is speculation, goblins running through the graveyard, and complete nonsense...

The only thing I have is what IMS released and what was reported...

If anyone here wants to speculate, fine...this is a forum where we can all express our views....that is why it is here...

If anyone has credible evidence and quotable sources to back it up on the "second meeting," either put up or shut up...

If you can, fine...but if you can't, regardless of the reasons for not sharing thos sources, you have no more credibility than Robin Miller's story has tonight...IMS says it is not true...the Hulmans ought to know, and only two people on that Board are not members of the family.

[Tim Northcutt]

Originally Posted by mountainstar

It would appear the reports are indeed true, that there was a separate meeting without Mr. George and he has been told to find his replacement and a suitable one at that by the end of the year. Also it would seem the purse strings of the hulman businesses funding the irl are cut, that tony will now be cast adrift with the irl and it shall sink or swim.

Many have knocked me on this forum over the years for my assertion that the Hulman Trust was not an ever ending pot of money and that someday as the money continued to bleed that the family would put the clamps on tony and that day is now arriving. Clearly they were wrong and I was right. Obviously to avoid the "tony george is fired" headlines for the few that actually care anymore, the family circled the wagons to restate the obvious, but the ending is near.

One race does not a championship make and it is funny how history repeats itself as we relive 1977-78 with growing rumors of a team owner insurrection, family disharmony at the speedway, a backwoods insular management of a falling apart series, etc.

Could another White Paper be coming down the pike? Let's hope so.

I predict regardless within 2-3 years the irl will either be bought out or a much reduced size.

Try that link at the top of the page again, mountainstar....Seems that SpeedTV.com pulled Robin's story....

Ask yourself...Why????

Will he write a follow-up to defend the original piece?

Let's sit back and find out....

Should be an interesting scenario, indeed....

You may be right..Let's see how the cards fall on the table....

[mountainstar]

Originally Posted by Canada ALMS fan

Good riddance, I hope he does go! Mountainstar, where are you hearing about the second meeting without George?

http://www.wishtv.com/dpp/news/india...S_CEO_20090527

There are a number of people belonging to the trust not happy with the current situation and the pot is boiling over. They will try to contain it best they can but only for so long.

[mountainstar]

Originally Posted by Tim Northcutt

Try that link at the top of the page again, mountainstar....Seems that SpeedTV.com pulled Robin's story....

Ask yourself...Why????

Will he write a follow-up to defend the original piece?

Let's sit back and find out....

Should be an interesting scenario, indeed....

You may be right..Let's see how the cards fall on the table....

Check your links you posted Timmy:

http://auto-racing.speedtv.com/artic...coming-at-ims/

[The Snout]

Originally Posted by Tim Northcutt

Try that link at the top of the page again, mountainstar....Seems that SpeedTV.com pulled Robin's story....

Ask yourself...Why????

Will he write a follow-up to defend the original piece?

Let's sit back and find out....

Should be an interesting scenario, indeed....

You may be right..Let's see how the cards fall on the table....

They changed the link and updated the article after the Hulman's statement. It's still there.

http://auto-racing.speedtv.com/artic...coming-at-ims/

I don't think Miller was 100% right, but I think Tony George has been asked to find his replacement and present a plan to the board. Sounds better than saying he's been sacked.

[mountainstar]

Originally Posted by Tim Northcutt

So...The Chairman Emeritus of the Indianapolis Motor Speedway, who was quoted directly, did no know about this "second meeting" that has removed Tony George? She told Curt Cavin that the story was not true

Read the link from the Indy Star...

There very well could be more to this...since it is a private company, we may not know for weeks or months....

All I know is that what Robin Miller reported today vs. what the IMS and especially the Grand Dame of the facility, Mari Hulman George, said was that the story was not correct...

Maybe someone got tired of Robin's attitude and hung him out to dry...who knows?

But from what I know as of today, he has egg on his face from the "anonymous source" who just got ***** slapped by the people who "would" know, becuase that Board is mostly members of the Hulman family....

Maybe Kalkhoven will step in and spend his money...Sure...Hewas going to "Bury the Hulman Family" when he was the kingpin at Champ Car...Remember???

Don't take offense about the last comment...because that should be behind us....it is over...

At least for some of us it is....

No it's not over, but I don't take it personally as some do. It is merely a sport, of which is meaningless compared to the world situation as a whole, and two a business, of which all businesses ebb and flow with time. We are simply at the bottom for now, I hope anyways.

Obviously they will attempt to keep from airing their dirty laundry in public. Of course there will also be different sides to the story about what has happened, but I think only a fool would believe everything is fine. tony georges declaration today about "i'm in control here" sounded like the captain on the Titanic or better yet Alexander Haig's declaration at the White House in 1981.

[The Snout]

Originally Posted by mountainstar

http://www.wishtv.com/dpp/news/india...S_CEO_20090527

There are a number of people belonging to the trust not happy with the current situation and the pot is boiling over. They will try to contain it best they can but only for so long.

There's too much smoke for me. I've got a few friends that are hearing noises as well. And they know people.

I'd be more surprised at this point if there is nothing to this.

[Tim Northcutt]

Originally Posted by mountainstar

Check your links you posted Timmy:

http://auto-racing.speedtv.com/artic...coming-at-ims/

The lead says that he is out, but the key players don't say that he is out, do they????

Here is what the Speed Tv article says as quoted from the IMS players:

"The Speedway issued a statement Wednesday afternoon that read:

At a regular meeting of the board of directors of the Indianapolis Motor Speedway on Tuesday, May 26, board members asked Tony George, chief executive officer of the IMS companies, to devise a plan for management of Hulman & Company, the Indy Racing League, Clabber Girl and the Indianapolis Motor Speedway that would allow him to focus on the business which requires the greatest attention. This plan is to be presented to the board at a meeting later this year.

IMS Chairman of the Board Mari Hulman George said: “There was a general discussion about the challenges and opportunities facing all of our companies and where most of our energies need to be spent. All of our properties are doing well, given the challenges of the current economy. The Indy Racing League represents our greatest growth opportunity and therefore deserves the most attention at this point.”

Tony George said: “Contrary to published reports, I continue to serve as CEO of IMS. Our board of directors met yesterday, and we did discuss how to best confront challenges and exploit opportunities facing our businesses. This is nothing new and is something that we continually do as a board. But no changes in leadership or responsibility have been made. We don’t normally comment on board deliberations concerning our family business. However, the widespread, inaccurate reports and rumors caused my mother and me to conclude that it was necessary to set the record straight. If changes are made in the management of the company that are newsworthy, we will announce them when they are made.”

The headline says he is out, but does any of that above even say he is out???

Where???

Please show me....maybe I am blind or illiterate.

When I made my post, the link was gone and was for most of the day after the IMS denied it...

Want to share? They are covering their journalistic asses...most of this is rehashed from the first report...

Sure...they will look at how they will move forward with all of their business holdings in these times following an annual meeting and assessment...but nothing from the family says that he is out...

Except a headline....:

[Tim Northcutt]

Originally Posted by Tim Northcutt

Let's sit back and find out....

Should be an interesting scenario, indeed....

You may be right..Let's see how the cards fall on the table....

I said this as part of my posts on this subject...

I'm not a Hulman....Let's see exactly what does happen...

But I still don't see anything thus far that would tell me that he is gone...

Yet...

Otherwise, they would not have denied what was reported earlier today...

On the sports radio station hre today, Robin was on and said "read between the Lines".....

BS....If you are a journalist, quote your sources and come clean...if they say you are not accurate, back it up....

[mountainstar]

Originally Posted by The Snout

There's too much smoke for me. I've got a few friends that are hearing noises as well. And they know people.

I'd be more surprised at this point if there is nothing to this.

Yep. Even if the truth is somewhere in the middle, the wheels are starting to turn in another direction. With tv ratings like .15 you can only survive for so long.

The irl has been a money bleeder since day 1. george and associates have stated several times over the years the irl has never made a penny. I'd predict if the same downward trend continues, the irl will be folded into nascar or sold off elsewhere or it will be a repeat of the formation of CART with owners wandering off the reservation. And the hulman family will be back to being track owners as they should be. Or out of the business entirely with the speedway sold off. As the years go on, the younger members of the trust probably don't have that emotional connection with the old patriarch or the glorious past, hence easier to let go of.

If the irl continues as is, I don't see it continuing past another 4-5 years. The money isn't there anymore from all the usual sources. Crap businesses can survive in a boom economy but we are in the inverse situation now.

[mountainstar]

Originally Posted by Tim Northcutt

The lead says that he is out, but the key players don't say that he is out, do they????

Here is what the Speed Tv article says as quoted from the IMS players:

"The Speedway issued a statement Wednesday afternoon that read:

At a regular meeting of the board of directors of the Indianapolis Motor Speedway on Tuesday, May 26, board members asked Tony George, chief executive officer of the IMS companies, to devise a plan for management of Hulman & Company, the Indy Racing League, Clabber Girl and the Indianapolis Motor Speedway that would allow him to focus on the business which requires the greatest attention. This plan is to be presented to the board at a meeting later this year.

IMS Chairman of the Board Mari Hulman George said: “There was a general discussion about the challenges and opportunities facing all of our companies and where most of our energies need to be spent. All of our properties are doing well, given the challenges of the current economy. The Indy Racing League represents our greatest growth opportunity and therefore deserves the most attention at this point.”

Tony George said: “Contrary to published reports, I continue to serve as CEO of IMS. Our board of directors met yesterday, and we did discuss how to best confront challenges and exploit opportunities facing our businesses. This is nothing new and is something that we continually do as a board. But no changes in leadership or responsibility have been made. We don’t normally comment on board deliberations concerning our family business. However, the widespread, inaccurate reports and rumors caused my mother and me to conclude that it was necessary to set the record straight. If changes are made in the management of the company that are newsworthy, we will announce them when they are made.”

The headline says he is out, but does any of that above even say he is out???

Where???

Please show me....maybe I am blind or illiterate.

When I made my post, the link was gone and was for most of the day after the IMS denied it...

Want to share? They are covering their journalistic asses...most of this is rehashed from the first report...

Sure...they will look at how they will move forward with all of their business holdings in these times following an annual meeting and assessment...but nothing from the family says that he is out...

Except a headline....:

Well quite clearly tim they don't want the "tony george is fired" headline, hence the statement about tony finding his replacement. He's been asked to come up with a "plan", reorganization, PR, blah, blah.

I loved his comment today "Maybe something happened I'm not aware of"

But maybe tim you are right. Crowds filled the stands to the brim in qualifying, the "biggest crowd ever" on raceday, tv ratings quatripled, profits are flowing like a river of gold, drivers are household names, etc. It feels good to have tony "i'm in control here" george at the helm.



I don't think so however. Times are changing. Nothing lasts forever.

Don't rule the team owners out of this. If a few of them up and walk off the reservation, you've got some big problems. Anyone that thinks sponsors will pony up millions for .15 tv ratings is out of their mind.

[climb]

Tony George out? Maybe we'got one more IRL fan now, eh ms?

[ensign14]

Bit of snipping:

Originally Posted by Tim Northcutt

...board members asked Tony George, chief executive officer of the IMS companies, to devise a plan for management of Hulman & Company, the Indy Racing League, Clabber Girl and the Indianapolis Motor Speedway that would allow him to focus on the business which requires the greatest attention.

Mari Hulman George said: “The Indy Racing League deserves the most attention at this point.”

So, on the IMS' own words, Tony George is to focus on the Hulman business which requires the greatest attention, and the IRL is the Hulman business which requires the greatest attention.

Which means Tony George has to concentrate on the IRL. Not Hulman & Co, Clabber Girl or IMS.

[D.R.T.]

Very interesting to see this developing in the next couple of weeks. Obvioulsy there is substance to the story, good reporting by Miller.

[Fogelhund]

Georges role, or responsibilities has changed. He is simply a CEO of a business, and if the BoD has changed the CEO, or his duties, what is the big deal? He isn't a messiah, just a CEO.