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Tony George quits board of series owners

The reports suggested that the offer from the group would result in the group taking over the running of the loss-making series and assuming any outstanding debts, while Hulman & Company would retain its majority stake and management of the IMS venue.

Motorsports marketer Zak Brown was also said to be involved in the group and being lined up as a potential CEO to replace Randy Bernard. Another potential candidate for the post was Andretti Autosport's executive vice president and chief operating officer John Lopes or Daytona International Speedway's president Joie Chitwood III, a former chief operating officer at IMS for seven years when George was the CEO there.

Initial opinion was undecided as to whether George's resignation from the board of Hulman & Company made a successful takeover by the car owners more or less likely in the coming months.

Quitting the board means that George is now free to take a more proactive and aggressive line in his bid to acquire ownership, but his resignation might also indicate that the bid is not finding favour among the other Hulman-George family members on the board.

George was forced out of his position as IMS CEO in 2009 by a board vote, and also resigned as the series CEO in the wake of the reunification at the same time. He's rumoured to have already tried one unsuccessful buy-out move for the series already in 2010.

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Just_saying - Unregistered

October 21, 2012 5:54 AM

What an egoistical maniac .. It was never about anything he preached.. It was only about him having total control.. Cart only had to bow their heads To f1.. Now indycars get beat by formula Nippon cars.. Now He seeks to rebuild the same structure he sought to destroy.. Only because it is the only way back to power.. Total hypocrite .. And the loss of hundreds of million, Hasn’t even dampened his lust for control.. And f1 guys think they have it bad with Bernie.. Lets just hope Tony can never afford to buy f1

DGAS - Unregistered

October 21, 2012 11:30 PM

I agree.This guy is the cancer which has more or less killed open wheel racing in the US. Lets face it, Indycar will never recover to its former glory (even as CART)and if this guy has anything to do with it,I fear it will be all dead & buried within 3 years. I wouldnt trust him running a county fair!

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