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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

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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)
Ryan Hunter-Reay celebrates in Victory Lane after winning the Iowa Corn 300 at Iowa Speedway (Photo by: Chris Jones for IndyCar Media)
Ryan Hunter-Reay celebrates in Victory Lane after winning the Iowa Corn 300 at Iowa Speedway (Photo by: Chris Owens for IndyCar Media)
Sage Karam, driver of the #8 Comfort Revolution/Big Machine Records Chip Ganassi Racing Chevrolet IndyCar V6, celebrates his third-place finish Saturday, July 18, 2015, during the Verizon IndyCar Series Iowa Corn 300 at Iowa Speedway in Newton, Iowa. (Photo by Phillip Abbott/LAT for Chevy Racing)
Josef Newgarden, driver of the #67 Wichita State University CFH Racing Chevrolet V6 IndyCar, celebrates his second-place finish Saturday, July 18, 2015, during the Verizon IndyCar Series Iowa Corn 300 at Iowa Speedway in Newton, Iowa. (Photo by Phillip Abbott/LAT for Chevy Racing)
Sage Karam, driver of the #8 Comfort Revolution/Big Machine Records Chip Ganassi Racing Chevrolet IndyCar V6, races to a third-place finish Saturday, July 18, 2015, during the Verizon IndyCar Series Iowa Corn 300 at Iowa Speedway in Newton, Iowa. (Photo by Scott R. LePage/LAT for Chevy Racing)
Josef Newgarden, driver of the #67 Wichita State University CFH Racing Chevrolet V6 IndyCar, races to a second-place finish Saturday, July 18, 2015, during the Verizon IndyCar Series Iowa Corn 300 at Iowa Speedway in Newton, Iowa. (Photo by Scott R. LePage/LAT for Chevy Racing)
Ryan Hunter-Reay celebrates in Victory Lane after winning the Iowa Corn 300 at Iowa Speedway (Photo by: Chris Jones for IndyCar Media)
Ryan Hunter-Reay celebrates in Victory Lane after winning the Iowa Corn 300 at Iowa Speedway (Photo by: Chris Jones for IndyCar Media)
Ryan Hunter-Reay celebrates in Victory Lane after winning the Iowa Corn 300 at Iowa Speedway (Photo by: Chris Jones for IndyCar Media)
Ryan Hunter-Reay celebrates in Victory Lane after winning the Iowa Corn 300 at Iowa Speedway (Photo by: Chris Jones for IndyCar Media)
Ryan Hunter-Reay takes the twin checkers to win the Iowa Corn 300 at Iowa Speedway. (Photo by: Chris Owens for IndyCar Media)
Helio Castroneves crosses the start/finish line during practice for the Iowa Corn 300 at Iowa Speedway (Photo by: Chris Jones for IndyCar Media)
Helio Castroneves affixes the Verizon P1 Award emblem as the pole winner for the Iowa Corn 300 at Iowa Speedway (Photo by: Chris Jones for IndyCar Media)
Helio Castroneves with the Verizon P1 Award trophy as the pole winner for the Iowa Corn 300 at Iowa Speedway (Photo by: Chris Jones for IndyCar Media)

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