The Indianapolis Motor Speedway announced today that Tony George has resigned from the Hulman and Co. Board of Directors due to his involvement in a group that is pursuing a purchase of INDYCAR from the Hulman group — which has said that the series is not for sale on multiple occasions.
Hulman and Co. own the Indianapolis Motor Speedway Corporation and its affiliated companies, including INDYCAR.
After creating the Indy Racing League in 1994, George was ousted as CEO of the series in 2009 and was eventually replaced by its current leader, Randy Bernard, in 2010. Since then, George has served primarily as a team owner and currently is a co-owner at his stepson Ed Carpenter’s team.
“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,” George said in an IMS statement. “It goes without saying that I want to do what is best for this organization.”
The statement also said that Hulman and Co. CEO Jeff Belskus indicated that George’s position on the board would not be filled immediately.
“Tony has been involved with our businesses for many years and has contributed significantly through his leadership role with IMS and INDYCAR and as a member of this board,” Belskus said. “We wish Tony much success in the future.”
George has reportedly put together a group of investors that includes multiple current team owners in an attempt to purchase INDYCAR.
