INDYCAR: Penske, Ganassi Refute Role In Rumored Buyout Group

IndyCar

INDYCAR: Penske, Ganassi Refute Role In Rumored Buyout Group

If Tony George has put together a group and made a formal offer to purchase the IndyCar Series, it doesn't include Roger Penske and Chip Ganassi.

Robin Miller | Posted October 12, 2012

Roger Penske and Chip Ganassi (L to R), were quick to disassociate themselves from the takeover group IRL founder Tony George is reportedly assembling. (Photo: LAT)

If Tony George has put together a group of investors and made a formal offer to purchase the IndyCar Series, as reported Friday in the Sports Business Journal, it doesn't include Roger Penske and Chip Ganassi.

SBJ’s story said George hired a law firm to approach car owners, among them the two most successful in open wheel racing.

But both denied it to SPEED.com.

“That story is wrong, I’m not part of any group making an offer,” said Penske via an email. “I am aware of discussions but I’m not involved.”

Ganassi said he heard about it last June when SPEED.com first broke the story about George, John Barnes and Kevin Kalkhoven trying to assemble the owners to buy IndyCar from Hulman & Company.

“Somebody asked me two months ago if I would be interested in doing it and said, ‘Sure, I’d take a look at it,’” replied Ganassi on Friday afternoon. “But I haven’t heard another word since and somebody is out there making a lot of **** up.”

Following an SBJ story two weeks ago that claimed George was making an offer, Indianapolis Motor Speedway president Jeff Belkus issued a statement that nobody had made any offers and it really didn’t matter because the series was not for sale.

He reiterated that stance Friday: “IndyCar is not for sale.”

Hulman & Company oversees all of the Hulman/George properties, including IMS, IndyCar and Clabber Girl, and it’s believed that any kind of transaction would have to be voted and approved by its board of directors.

But selling the series back to a car owners group would seem unlikely since the damaging 12-year war between CART and IRL from 1996-2008 all started because George hated the way car owners dictated policy.

It’s known that George, the Indy Racing League founder who was ousted from power by his family in 2009, has been highly critical of the way Randy Bernard is running the series and wants control back.

Robin Miller brings 40 years of experience to his role as SPEED.com's senior open-wheel reporter, and serves as a frequent contributor to SPEED Center and Wind Tunnel with Dave Despain.

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