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IndyCar
MILLER: Interpreting Tony George’s Departure
By nature, auto racing press releases always contain some of the most creative writing you will ever read...
Tony George resigned from the Hulman & Company board of directors last week, prompting growing talk of a potential takeover of the IZOD IndyCar Series. (Photo: LAT)
By nature, auto racing press releases always contain some of the most creative writing you will ever read because the quotes are either scripted or laced with saccharine or miles from the truth.
Like the one from the Indianapolis Motor Speedway last week concerning Tony George’s resignation from the Hulman & Company board of directors.
By my calculations, it covered all the bases.
So, in the interest of Indy car fans that are panicked that George is re-gaining control of the series, yours truly will translate what I believe that document really said.
Let’s take the opening quote from Jeff Belskus, the CEO and president of Hulman & Company.
“Tony George has made the difficult decision to resign from the board because of his involvement with a group that has recently expressed an interest in purchasing the IndyCar organization.”
Translation: First off all, the board of directors just met last month so this looks like it was a hastily-called meeting to address all the negative publicity and uncertainly generated by George’s takeover rumor, which first surfaced last June. It’s not good for business to have this story keep festering and methinks the board simply told TG either you resign or we’ll do it for you. The release was a nice mea culpa.
“While the business is not for sale and no offers to sell it have been considered or being considered, we applaud Tony’s efforts to resolve the appearance of a conflict and appreciate the gravity of the situation,” said Belskus.
Translation: We don’t care if your buddy Zak Brown has Bernie Ecclestone and Gene Simmons as partners, the series isn’t for sale. TG spent all those millions on the IRL to try and make sure IMS controlled the rules and didn’t take orders from owners. We’ve got some smart businessmen on the board nowadays (thanks to you Tony) and they’re not about to turn things over to his posse.
George supposedly weighed in with this gem: “I realize that my recent efforts to explore the possibility of acquiring IndyCar represent the appearance of a conflict and it is in everyone’s best interest that I resign from the Hulman & Company board. It goes without saying that I want to do what is best for this organization.”
Translation: Of course it was a conflict of interest and only in the best interest of Tony. If he read the forums it seems like about 90 percent of the people who still care about Indy car racing are ADAMANT that if he returns to power in any way, shape or form they are DONE watching or attending races. The best thing he can do for the organization is remain a car owner.
The bottom line is that the release wasn’t very well written because it still reads like the door is open for TG to pursue a purchase even though the same paragraph says there’s no chance it can happen.
That’s the most honest part – Tony finally admitted he was interested in buying the series and Belskus again reiterated it’s not for sale.
It’s time this story went away and it seems to me like the board agreed. And this time I don’t think it was Tony’s sisters who pulled the hook on their brother.
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.
The opinions reflected herein are solely those of the above commentator and are not necessarily those of SPEED.com, FOX, NewsCorp, or SPEED
Like the one from the Indianapolis Motor Speedway last week concerning Tony George’s resignation from the Hulman & Company board of directors.
By my calculations, it covered all the bases.
So, in the interest of Indy car fans that are panicked that George is re-gaining control of the series, yours truly will translate what I believe that document really said.
Let’s take the opening quote from Jeff Belskus, the CEO and president of Hulman & Company.
“Tony George has made the difficult decision to resign from the board because of his involvement with a group that has recently expressed an interest in purchasing the IndyCar organization.”
Translation: First off all, the board of directors just met last month so this looks like it was a hastily-called meeting to address all the negative publicity and uncertainly generated by George’s takeover rumor, which first surfaced last June. It’s not good for business to have this story keep festering and methinks the board simply told TG either you resign or we’ll do it for you. The release was a nice mea culpa.
“While the business is not for sale and no offers to sell it have been considered or being considered, we applaud Tony’s efforts to resolve the appearance of a conflict and appreciate the gravity of the situation,” said Belskus.
Translation: We don’t care if your buddy Zak Brown has Bernie Ecclestone and Gene Simmons as partners, the series isn’t for sale. TG spent all those millions on the IRL to try and make sure IMS controlled the rules and didn’t take orders from owners. We’ve got some smart businessmen on the board nowadays (thanks to you Tony) and they’re not about to turn things over to his posse.
George supposedly weighed in with this gem: “I realize that my recent efforts to explore the possibility of acquiring IndyCar represent the appearance of a conflict and it is in everyone’s best interest that I resign from the Hulman & Company board. It goes without saying that I want to do what is best for this organization.”
Translation: Of course it was a conflict of interest and only in the best interest of Tony. If he read the forums it seems like about 90 percent of the people who still care about Indy car racing are ADAMANT that if he returns to power in any way, shape or form they are DONE watching or attending races. The best thing he can do for the organization is remain a car owner.
The bottom line is that the release wasn’t very well written because it still reads like the door is open for TG to pursue a purchase even though the same paragraph says there’s no chance it can happen.
That’s the most honest part – Tony finally admitted he was interested in buying the series and Belskus again reiterated it’s not for sale.
It’s time this story went away and it seems to me like the board agreed. And this time I don’t think it was Tony’s sisters who pulled the hook on their brother.
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.
The opinions reflected herein are solely those of the above commentator and are not necessarily those of SPEED.com, FOX, NewsCorp, or SPEED
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