INDIANAPOLIS — Tony George has been asked to step down as president and CEO of the Indianapolis Motor Speedway and his family’s business. And it’s not clear how closely he’ll remain tied to the day-to-day operations of the Indy Racing League.
The board of directors of the speedway and Hulman & Company announced Tuesday that a new management team will take over the Hulman-George companies effective July 1.
The Hulman-George family has run the speedway, home of the Indianapolis 500, for six decades and also owns the IRL and Clabber Girl, a baking-powder company based in Terre Haute.
Speedway board chairman Mary Hulman George, Tony George’s mother, said it is in the best interests of everyone that her son concentrate his efforts on the IRL — primarily, she said, as a team owner.
“We are pleased that he will continue to be an important part of the Indy Racing League as a team owner and as a member of our Board of Directors, and we wish him every success,” she said in a statement.
Hulman George did not directly address whether George would continue to run the IRL’s day-to-day operations. No other IRL executives were available for comment.
In an e-mail to The Associated Press, George refused to comment, saying he would release a statement next week.
Longtime IMS executives W. Curtis Brighton and Jeffrey G. Belskus will take over the leadership roles, with Bright, currently executive vice president and chief legal counsel, becoming president and CEO of Hulman & Company. Belskus, currently executive vice president and chief financial officer for the companies, becomes president and CEO of the Indianapolis Motor Speedway Corp.
“Our board had asked Tony to structure our executive staff to create efficiencies in our business structure and to concentrate his leadership efforts in the Indy Racing League,” Hulman George said in a statement. “He has decided that with the recent unification of open-wheel racing and the experienced management team IMS has cultivated over the years, now would be the time for him to concentrate on his team ownership of Vision Racing with his family and other personal business interests he and his family share.”
Tony George reportedly was asked by the family-dominated board of directors to step down in May, the week after the 500. But he said at the time, “Contrary to published reports, I continue to serve as CEO of IMS.”
The reprieve was short-lived.
George has spent hundreds of millions or dollars in the past 13 years to make track renovations and keep the IRL afloat.
The statement indicated the family businesses are not in trouble, but the speedway and IndyCar series have been cutting back. Over the past six months, about 60 staff jobs were eliminated, and George’s wife, Laura, who co-owns Vision Racing with her husband and actor Patrick Dempsey, lost her job as an adviser.
Construction for a road course, new press tower and new Pagoda cost about $100 million. Those facilities were built for a Formula One race that is no longer held in Indy.
He also broke with tradition by bringing NASCAR and Grand Prix motorcycle to a track that had only hosted one race each year, the Indianapolis 500, until 1994.
But the cost to keep the track in good condition can be astronomical.
“This place wakes up every morning and eats money,” George said in May. “We spend a lot of money keeping it in the condition we do. Certainly the Indy Racing League has in the past required a lot of capital to keep it going when there was two competing series — and a lot of money was spent last year trying to unify.”
Auto Racing
Tony George resigns at IMS
- Auto Racing
-
-
Ganasi’s team on target for final practice, pit-stop competition
If Carb Day is any indication of things to come, then Target Chip Ganassi Racing may be in prime condition for Sunday’s running of the Indianapolis 500.
-
TRACKSIDE: Sprint car event could generate close racing
One of the hottest and most competitive weekends of the 2012 motorsports season gets under way tonight at the Terre Haute Action Track with the scheduled running of the Tony Hulman Sprint Car Classic.
-
No bumping in sight: Indy 500 field looks much the same a day later
No last-second runs. No drama, but a full field was set for the 96th running of the Indianapolis 500 at the close of Bump Day at the Indianapolis Motor Speedway on Sunday.
-
A brisk pace at Indy: Briscoe edges Hinchcliffe for pole position
Twenty-four spots were filled for the Indianapolis 500 on Saturday with Ryan Briscoe earning the pole position for the May 27 race.
-
Accidents mar Pole Day at Indy
Although Bump Day at the Indianapolis Motor Speedway often produces late day drama and emotion, Sunday’s version of the drama began on Saturday during Pole Day action.
-
Fast Friday lives up to its name at Speedway
Fast Friday lived up to its name at Indianapolis Motor Speedway as drivers tuned up for Pole Day runs today for the Indianapolis 500.
-
Speedy rookie spins at Indy
Happy Hour at the Indianapolis Motor Speedway held both good and bad Wednesday for rookie Josef Newgarden while practicing for the Indianapolis 500.
-
Andretti has fast time at Indy practice
A few new names appeared in the top 10 of the speed charts as practice for the Indianapolis 500 continued Tuesday at the Indianapolis Motor Speedway.
-
TRACKSIDE: Mulling over the biggest weekend in motorsports
We’re approaching what has traditionally become one of the busiest and most prestigious weekends in all of motorsports.
-
Rookie continues to look good at Indy
For the third day in a row, speeds rose as drivers continued practice Monday for the 96th running of the Indianapolis 500 at the Indianapolis Motor Speedway.
-
With mom watching, Saavedra turns fastest Indy time
Sebastian Saavedra gave his mom a great Mother’s Day gift.
-
Rookies rule Indy practice speed charts
Rookies ruled at the Indianapolis Motor Speedway on the opening day of practice for the 96th running of the Indianapolis 500.
-
TRACKSIDE: Spiker has begun to revive racing in Putnamville
Since his recent arrival on the Wabash Valley motorsports scene, Lincoln Park Speedway promoter Joe Spiker has certainly made his presence felt in Indiana sprint car circles.
-
TRACKSIDE: Helfrich: Short-track racing has good future
When questions arise regarding the current state of sprint car racing, whether they be at the local or national level, one doesn’t have to search much further for the answer than veteran promoter Tom Helfrich.
-
TRACKSIDE: An impressive opener for new THAT promoters
There might have been a chill to the air this past weekend, but the inclement conditions failed to dampen the spirits or the caliber of racing for the Action Track season opener Sunday.
-
Ballou, Gilpin win at THAT
A borrowed trailer, a decided lack of tires and sponsorship, and Bud Kaeding weren’t going to separate Robert Ballou from the $2,500 check that went to the winner of the Midwest Sprint Car Series/King of Indiana Sprint Series in the season opener at the Terre Haute Action Track.
-
MSCS opens its season at Action Track tonight
The Hoosier Tire Midwest Sprint Car Series will go into action today at the Terre Haute Action Track.
The race will offer drivers the opportunity to capture MSCS points as well as King of Indiana Sprint Series (KISS) points. The two organizations will combine forces to open their respective seasons. -
TRACKSIDE: Near-capacity crowd turns out for opening night of racing
Opening night at one of the midwest’s premier short track operations can be like no other time of the year.
-
TRACKSIDE: Racing season has promise
With several “test and tunes” sessions and season openers having already taken the green flag, it’s a sure sign the Wabash Valley racing campaign is shifting into high gear.
-
TRACKSIDE: Action Track's future secured
Following several months of speculation regarding the future of racing at the Terre Haute Action Track, fans can now breathe a huge sigh of relief.
-
Matt Kenseth wins Daytona 500 after fire and rain
Well, NASCAR certainly knows how to make a prime-time impression.
-
TRACKSIDE: Valley racing showed best, worst of times in 2011
A look back on the 2011 Wabash Valley auto racing season reveals the best and worst of times the sport has to offer.
-
Action Track to play host to 4 USAC events
U.S. Auto Club officials have released preliminary schedules for next season and four events are listed to be run at The Action Track.
-
ISU's Troxell, Crossroads Dragway in running for NHRA awards
Indiana State University student Derick Troxell and the Crossroads Dragway are both in the running for annual National Hot Rod Association awards.
-
Memorial service for Wheldon attracts thousands
Thousands came to honor deceased IndyCar driver Dan Wheldon during a memorial service at Conseco Fieldhouse on Sunday.
-
Indy remembers Wheldon
Dan Wheldon’s biggest fans wanted one more chance to thank their favorite driver.
One by one, they turned Indianapolis Motor Speedway’s main gate into a memorial for the two-time Indianapolis 500 winner, who was killed Sunday in a fiery crash at Las Vegas.
-
Wheldon fans leave tributes at Indianapolis track
Dozens of fans have left flowers, candles and notes at the Indianapolis Motor Speedway gates in memory of two-time Indy 500 champion Dan Wheldon.
-
Indy 500 winner Wheldon dies after massive wreck
Race car drivers always know the worst can happen whenever they get behind the wheel.
-
UPDATE: Indy 500 winner Dan Wheldon dies after massive crash in Vegas
Indianapolis 500 winner Dan Wheldon died Sunday at Las Vegas Motor Speedway after his car became ensnarled in a fiery 15-car pileup, flew over another vehicle and landed in a catch fence just outside turn 2.
-
It was a frigid ending to oval dirt track season
The oval dirt track part of the 2011 Wabash Valley racing season came to a highly successful and climactic end over the weekend at Lincoln Park Speedway.
- More Auto Racing Headlines
-
Ganasi’s team on target for final practice, pit-stop competition
NJ Man Charged With Murder in Death of Patz
Raw Video: Activists Allege Massacre in Syria
Astronauts Enter World's 1st Private Supply Ship
Today in History
Shell Readies Arctic Drill Ship
Support, Fun for Kids of Fallen Soldiers at Camp
Biden Addresses West Point Graduating Class
50 Years Later, Underground Fire Still Burning
Raw Video: Unruly Passenger Restrained in Miami
Fugitive Penguin Caught, Returned to Aquarium
Light Show Transforms Sydney Opera House
Passenger Restrained on Flight to Miami Arrested
Calif.'s Coronado Named Nation's Best Beach
Raw Video: Soldiers Plant Flags at Arlington
Raw Video: Robber Uses Drive-thru Window
Dragon Arrives at Space Station in Historic 1st
Police: Gunman Has Hostages in Realty Office
CEO Salaries Become Sore Issue in Labor Disputes
Raw Video: Dragon Arrives at Space Station
Beer Here!: An Historic Exhibit
Wild weather for Memorial Day weekend
Inspiration for the class of 2012
Colorado College Student Shot While Trespassing
Will Smith & Josh Brolin on "Men in Black 3"
80-Year-Old Skydiver's Nightmare Jump
JWoww Sizzles in a Black Bikini
Sliders on the Grill
Cruise ship crunch
Backstage With Beyonce
Ultimate Creamy Potato Salad
Pope's Personal Butler Under Arrest
Jenny McCarthy's New Man
Tyler's Classic Coleslaw
Britney Spears Under X Factor Fire
Flesh-Eating Bacteria Victim Hits Milestone
Hurricanes and Heat Waves Across America
Kristen Stewart Is Red Hot
Shark Attacks Australian Fishing Boat
Bradley out for playoffs
Kayaker Survives Trip Over Washington Waterfall
