IndyCar »

Series not for sale, reiterate owners

The owners of the IZOD IndyCar Series have once again reiterated that the series will not be sold, despite the recent upheaval that saw the depature of Randy Bernard as CEO.
The owners of the IZOD IndyCar Series have once again emphatically denied that the series might be sold, saying that the series is too closely tied to the fortunes of the company's flagship Indianapolis 500 to consider selling it off.

The latest denials came as the owners, Hulman & Co., announced the appointment of Mark Miles as a new CEO of the board. He replaces Jeff Belskus who has moved over to become interim CEO of the IndyCar Series itself. Belskus will remain president of the Indianapolis Motor Speedway (IMS), which is also owned by Hulman & Co.

"We are determined to grow the IndyCar Series as a sport, and that will help the Indianapolis 500 mile race in the process." said Miles on Tuesday, adding that he considered the series to be "vitally important" to the future of the company as a whole.

"We believe that the destinies of IMS and the Indianapolis 500 mile race and the IndyCar Series are inextricably welded, woven together," Miles insisted.

"We see opportunities to continue the growth of IndyCar, which I view as an exciting challenge," echoed Belskus. "My passion is rooted in the Indianapolis Motor Speedway and IndyCar, and I have been energised by the opportunity we have in the short and long term for both organisations."

Although officially still 'interim' CEO of IndyCar, the appointment of Miles in his former role at Hulman & Co. hints that Belskus might remain in the post for somewhat longer than originally envisaged.

Mark Miles, the 59-year-old new CEO of Hulman & Co. is a veteran business leader and international sports executive. As well as a 15-year tenure transforming the ATP (American Association of Tennis Professionals), Miles had conspicuous success earlier this year leading the running of the 2012 NFL Super Bowl in Indianapolis. His appointment is intended to address business concerns that Hulman & Co. is operating in too parochial a manner to successfully run a national sporting series.

"The combination of his international sports experience and leadership of large-scale events like the 2012 Super Bowl, along with his diverse experience with public and private corporations, make him an exceptionally positive match for our business," said the chairman of the board of Hulman & Co., Mari Hulman George. "His business acumen, his ability to cultivate and develop partnerships and the extensive network in sports and business he will provide will strengthen all of our business units," she added.

Miles' appointment is aimed at freeing up Jeff Belskus to deal with stabilising the troubled IndyCar Series, which has been rocked by takeover talk, a big financial loss in 2012, rumours about team owner dissatisfaction, and the sudden departure of its CEO Randy Bernard last month.




Related Pictures

Click on relevant pic to enlarge
Indianapolis Motor Speedway president Jeff Belskus. (Picture credit: IndyCar Media)
Jeff Belskus joined by veteran TV commentator Bob Jenkins and then-IndyCar CEO Randy Bernard with the green flag at Indianapolis. (c) 2012 F. Peirce Williams (Photo Credit: INDYCAR/LAT USA)
New Hulman & Co. CEO Mark Miles. (Photo credit: IndyCar Media)
James Hinchcliffe and Ryan Hunter-Reay lead the field in for pit stops as Dario Franchitti is punted by EJ Viso. (c) 2012, Phillip Abbott. LAT Photo USA (Photo Credit: INDYCAR/LAT USA)
Mikhail Aleshin slides into his machine prior to the evening Open Test session at Auto Club Speedway (Photo by: Joe Skibinski for IndyCar Media)
The pylon at Auto Club Speedway (Photo by: Joe Skibinski for IndyCar Media)
Mikhail Aleshin sits in his machine prior to practice for the MAVTV 500 at Auto Club Speedway (Photo by: Richard Dowdy for IndyCar Media)
Mikhail Aleshin on course during practice for the MAVTV 500 at Auto Club Speedway (Photo by: Chris Owens for IndyCar Media)
Mikhail Aleshin crosses the start/finish line during practice for the MAVTV 500 at Auto Club Speedway (Photo by: Richard Dowdy for IndyCar Media)
Mikhail Aleshin receives a handshake before his qualification attempt for the MAVTV 500 at Auto Club Speedway (Photo by: Richard Dowdy for IndyCar Media)
Helio Castroneves, Driver of the #3 Automobile Club of Southern California Team Penske Chevrolet IndyCar V6, celebrates winning the pole with the fastest qualifying time Friday, August 29, 2014, for Saturday`s Verizon IndyCar Series race at Auto Club Speedway in Fontana, California. Castroneves will start in the front row with teammate Juan Pablo Montoya, who qualified second fastest.  (Photo by Phillip Abbott/LAT for Chevy Racing)
Helio Castroneves, Driver of the #3 Automobile Club of Southern California Team Penske Chevrolet IndyCar V6, celebrates with his daughter Mikaella after winning the pole with the fastest qualifying time Friday, August 29, 2014, for Saturday`s Verizon IndyCar Series race at Auto Club Speedway in Fontana, California. Castroneves will start in the front row with teammate Juan Pablo Montoya, who qualified second fastest.  (Photo by Phillip Abbott/LAT for Chevy Racing)
Helio Castroneves, Driver of the #3 Automobile Club of Southern California Team Penske Chevrolet IndyCar V6, celebrates winning the pole with the fastest qualifying time Friday, August 29, 2014, for Saturday`s Verizon IndyCar Series race at Auto Club Speedway in Fontana, California. Castroneves will start in the front row with teammate Juan Pablo Montoya, who qualified second fastest. (Photo by Gregg Ellman/LAT for Chevy Racing)
Helio Castroneves, Driver of the #3 Automobile Club of Southern California Team Penske Chevrolet IndyCar V6, celebrates winning the pole with the fastest qualifying time Friday, August 29, 2014, for Saturday`s Verizon IndyCar Series race at Auto Club Speedway in Fontana, California. Castroneves will start in the front row with teammate Juan Pablo Montoya, who qualified second fastest. (Photo by Michael L. Levitt/LAT for Chevy Racing)
Helio Castroneves celebrates winning pole position for the MAVTV 500 at Auto Club Speedway (Photo by: Chris Jones for IndyCar Media)
Helio Castroneves celebrates winning pole position for the MAVTV 500 at Auto Club Speedway (Photo by: Chris Jones for IndyCar Media)
Helio Castroneves celebrates winning pole position for the MAVTV 500 at Auto Club Speedway (Photo by: Chris Jones for IndyCar Media)
Helio Castroneves celebrates winning pole position for the MAVTV 500 at Auto Club Speedway (Photo by: Chris Jones for IndyCar Media)

Start the conversation - Add your comment

Please login or register before adding your comments.

Although the administrators and moderators of this website will attempt to keep all objectionable comments off these pages, it is impossible for us to review all messages. All messages express the views of the poster, and neither Crash Media Group nor Crash.Net will be held responsible for the content of any message. We do not vouch for or warrant the accuracy, completeness or usefulness of any message, and are not responsible for the contents of any message. If you find a message objectionable, please contact us and inform us of the problem or use the [report] function next to the offending post. Any message that does not conform with the policy of this service can be edited or removed with immediate effect.




© 1999 - 2014 Crash Media Group

The total or partial reproduction of text, photographs or illustrations is not permitted in any form.