Tony George to buy the IRL?

Recent published articles have mentioned Tony George’s plans to buy the Indy Racing League. Rumors have been sparse and little is known of George’s intentions since his June departure as CEO of IMS and the IRL. One thing appears to be clear, George is still on the prowl and seems to have his next plan in the works.

George has been the focal point of open wheel racing since he took control of the Indianapolis Motor Speedway in 1990. The forever remembered split between CART and the newly formed Indy Racing League in 1996 has been a subject of interest among almost all open wheel fans, former and current. George appeared to have won that battle when unification with Champ Car in 2008 bridged the 12 year gap in open wheel racing series.

George’s new war appears to be more internal, as his sisters Nancy, Josie and Kathi appeared to be concerned with his spending and showed their displeasure by ousting him and therefore leaving him with nothing but his Vision Racing Team. Vision Racing was established in 2003, in part to help car counts and also proved helpful last year for Ryan Hunter Rheay, which paid off with his IZOD sponsorship.

For lack of a true timetable, lets put our own estimate on it and say 12 – 24 months from January of 2010.

George, with his love of open wheel racing, makes partner with Bruton Smith of Speedway Motorsports and buys the Indy Racing League from his sisters. George would be majority owner and could take over complete control of the IRL, making the IRL and IMS separate, in theory. The Indianapolis Motor Speedway would no longer have to finically support the IRL, because they would no longer be under the same umbrella of the Hulman George family. From a NASCAR perspective, think the France family and ISC, while separate corporations they still support each other and look out for each others best interest.

Now for the fun part – let’s talk about why this would work and could take the Indy Racing League to a level it has never achieved before.

When George takes command, he would have the power to return to oval based racing that the IRL was founded on. The IRL business model is still focused on a evenly split oval/road courses schedule. The IRL could focus its operations on finding solid street/road courses while not having to worry about racing at ovals at which they are no longer welcome (example ISC tracks). This would also take financial pressure off of the IRL as Bruton Smith’s Speedway Motorsports Inc. yearly revenue of $570 million would give the newly acquired George IRL time to steady and turn a profit with its new business model and partners in place. No longer would the IRL have to worry about the sisters making cuts and trimming the bottom line to fatten their pockets. George could also complete this transaction as the new cars in 2012 are starting to roll out. In theory if this happens in 12 months, he would oversee the last year of the current model of Dallara and all Honda engines. If George’s plan takes 18-24 months, then his newly acquired IRL rolls out new cars, multiple engine manufactures and a whole new platform for the IRL to produce their product, which is hopefully the best racing in the world.

This would give Speedway Motorsports Inc. a chance to expand its’ company, which already employees nearly 800 people and is possibly the most diverse racing company in the world. It would have part ownership in the IRL and allow Bruton Smith a chance to showcase his tracks with racing that only a fraction of Americans know about.

If you turn back the clock about 10-12 years, the infant IRL was a regular on SMI tracks. Charlotte, Atlanta, New Hampshire, Las Vegas, Kentucky, Infineon, and Texas have all featured IndyCar races before, the latter three still regulars on the schedule. The first Charlotte race featured over 80,000 fans, the second race similar numbers, until the third race featured a tire flying into stands and killed three fans.

Even if this plan never comes to reality, at least it was something good to think about!

Just think about the possibilities of tracks that now exist when Speedway Motorsports Inc becomes partner with the new Tony George IRL.

Race Tracks:

Atlanta Motor Speedway Hampton, GA
1.54 miles (2.48 km) quad-oval
Bristol Motor Speedway Bristol, TN
0.533 miles (0.858 km) oval
Infineon Raceway Sonoma, CA
1.99 miles (3.20 km) road course
Kentucky Speedway Sparta, KY
1.5 miles (2.4 km) tri-oval
Las Vegas Motor Speedway Las Vegas, NV
1.5 miles (2.4 km) D shaped-oval
Lowe's Motor Speedway Concord, NC
1.5 miles (2.4 km) quad-oval
New Hampshire Motor Speedway Loudon, NH
1.058 miles (1.703 km) oval
North Wilkesboro Speedway North Wilkesboro, NC
0.625 miles (1.006 km) oval
Texas Motor Speedway Fort Worth, TX
1.5 miles (2.4 km) quad-oval

Speedway breaks ground on the future

The Town of Speedway, Indiana broke ground last Thursday on the first phase of a multimillion dollar project that will give the town that surrounds the Indianapolis Motor Speedway a huge facelift.

The Main Street project is the first milestone in the town's Redevelopment Area One and is part of a $500 million investment to breathe new life into 400 acres of multi-use property that will be primed for commercial, shopping and entertainment, residential and research and development projects. Made possible through private and public investment, the redevelopment zone will be a vibrant, thriving and attractive downtown that will foster growth within the existing business community and encourage development of new business.

In total, Speedway's Redevelopment Area One will bring an anticipated total economic impact of $5.2 billion from road improvements, new development and business operations over its first 10 years.

"Main Street will be the backbone of a bustling, vibrant downtown district," said SRC President Vince Noblet. "The project we're commencing today will bring a safer pedestrian experience, with room for sidewalk cafes and a bike path to re-energize the atmosphere on Main Street and attract new businesses, shops and restaurants."

"As we celebrate our Centennial Era and look toward our next 100 years, the Town of Speedway joins us in looking toward the future by moving forward with a redevelopment plan that is crucial to the success of the businesses that call Speedway home," said Fred Nation, Indianapolis Motor Speedway vice president of communications. "Racing is an integral part of the culture in Speedway and the redevelopment of Main Street will attract race fans by providing a variety of entertainment options close to the Indianapolis Motor Speedway."

The Redevelopment website link is listed below.

http://www.speedwayindiana.com/

Will Power signs full time with Penske for 2010

Penske Racing announced today that they have signed Will Power to a fulltime ride next year in the IZOD IndyCar Series. Power will be sponsored by Verizon Wireless, the car will look to similar to the one he drove in the 2009 Indy 500. The most recent Will Power sighting was at Infineon Raceway when he was blindsided by Nelson Philippe. Power suffered a similar injury as to that of Vitor Meira in the 2009 Indy 500. Power should be ready for the start of the 2010 season. Powers accomplishments include three Champ Car wins and a recent victory at Edmonton this past season. This is very good news for the IZOD IndyCar Series and should give Power an opportunity to win at every race next year.

The entire press release is below:

MOORESVILLE, N.C. (November 19, 2009) – Penske Racing announced today that winning open-wheel racer Will Power will compete in a full-season entry for the team in the 2010 IZOD IndyCar Series, driving the No. 12 Verizon Wireless Dallara/Honda.

Joining forces with Team Penske teammates Helio Castroneves, a three-time Indianapolis 500 winner, and Ryan Briscoe, a top contender for the 2009 IndyCar Series championship, Power will complete a powerful three-car lineup in 2010 for Penske Racing.

Today’s announcement is a key element of a multi-year program between Penske Racing and Verizon Wireless that began in 2009. The 2010 Verizon Championship Racing platform will include the IndyCar Series with Power, Castroneves and Briscoe and NASCAR competition with Brad Keselowski and Justin Allgaier.

Power joined Penske Racing last season, filling in for Castroneves during pre-season testing and at the season-opening race in St. Petersburg. After Castroneves returned to the team, Power competed in the No. 12 Verizon Wireless car and won the pole position and finished second at Long Beach before he earned an impressive fifth-place result at the Indianapolis 500. Power went on to win his first race for the team at Edmonton and produced a win, two poles and four top-five and six top-10 finishes in six races in 2009. He suffered a season-ending back injury during a practice session at Infineon Raceway on August 22. Power continues to recover from his injuries well ahead of schedule and he is expected to be ready to participate in 2010 pre-season testing with the team.

“Will did a terrific job for Penske Racing this past season and we are excited that he will be able to drive full-time with the team in 2010 in the Verizon Wireless car,” said Roger Penske. “Will proved that he could consistently compete for wins and poles in 2009, despite his limited time on track. We believe he can be a legitimate championship contender next season for our team, along with Helio and Ryan. I want to thank Verizon Wireless for their continued support of our racing programs.”

Power, the 28-year-old native of Toowoomba, Australia, established himself as one of open-wheel racing’s most talented drivers before he joined Penske Racing last season. Power excelled in European competition as he produced strong performances in the British F3 and World Series by Renault championships before he moved to the United States in 2005 to compete in the Champ Car World Series. He captured the series Rookie-of-the-Year honors in 2006 and claimed three wins and six pole positions in two plus seasons in Champ Car. In 2008, Power won on the streets of Long Beach in Champ Car’s final race, and after he joined the IndyCar Series, he earned his first series pole in front of his home crowd at Surfers Paradise, Australia.

“To be able to compete for a full season with Penske Racing is really a dream come true for me,” said Power. “Working with the team this past season was the best experience of my career and I can’t wait to race for the IndyCar Series championship in 2010. I really have to thank everyone at Verizon Wireless and the Penske Racing team for this opportunity. I intend to make the most of it.”

“Verizon Wireless is excited to begin its second season with Penske Racing and we look forward to having Will Power compete and win races in the Verizon Wireless Indy car in 2010,” said John Stratton, chief marketing officer for Verizon Wireless. “We have had a very successful first season with Verizon Championship Racing in 2009 as we established ourselves as a major motorsports presence in North America. The 2010 season should be even more exciting with Will battling for the IndyCar Series championship and with Justin Allgaier and Brad Keselowski racing for wins and championships in NASCAR.”

Penske Racing is one of the most successful teams in the history of professional sports. Competing in a variety of disciplines, cars owned and prepared by Penske Racing have produced 314 major race wins, 373 pole positions and 22 National Championships. The team has also earned 15 Indianapolis 500 victories. For more information about Penske Racing, please visit http://www.penskeracing.com/

The Izod IndyCar Series was officially announced today at the Indianapolis Motor Speedway. The entire article link is below.

http://www.indycar.com/news/?story_id=15392

Talk about it more on IndyCarGarage.com

The IZOD IndyCar Series

The IZOD IndyCar Series

Speculation over the last few weeks in the IndyCar Series appears to have come to reality with today’s article in the Indianapolis Star. Curt Cavin is reporting that Thursday at 2 p.m., the IndyCar Series will announce that the clothing company IZOD will become the sponsor for the IndyCar series based out of Indianapolis.

The deal is rumored to be for 10 million per year over the course of a three to five year contract. Details of the contract are unlikely to be released according to Cavin, but the positive news for the IndyCar Series is a welcome sign.

A link to Cavins article is below:
http://www.indystar.com/article/20091103/SPORTS0107/911030318/1004/SPORTS/IndyCar+lands+title+sponsor+--+Izod

Other rumors and news circulating around the IndyCar Series

Ryan Hunter-Reay finalizing a ride with the Michael Andretti’s newly formed race team. Hunter-Reay’s deal includes backing from IZOD and would put him with a race team capable of winning races in 2010.

The Brazil race in Rio appeared to be a done deal, but rumors are spreading throughout the series that due to the Olympic bid being captured, the race is now on the back burner for the city. The series could possibly open in St. Pete.

The IndyCar Series will have a new logo to go with their new sponsor, the logo is expected to be released at the press conference on Thursday. The announcement on Thursday is expected to be a dual announcement not only in Indianapolis but in New York City as well.