Indianapolis Motor Speedway

Sports Corp., Speedway make way for new leadership

September 12, 2014
Kathleen McLaughlin, Anthony Schoetle
The change of guard at Indiana Sports Corp. will take place in late October, giving Ryan Vaughn time to finish out negotiations for the city’s 2015 budget, currently under review by the City-County Council.
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Melangton leaving Sports Corp. for IMS

September 12, 2014
Greg Andrews, Jeff Newman, Anthony Schoettle
Allison Melangton plans to step down as Indiana Sports Corp. president and will become senior vice president of events with Hulman & Co., parent of the Indianapolis Motor Speedway. Ryan Vaughn, chief of staff to Indianapolis Mayor Greg Ballard, will succeed Melangton.
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Carpenter, Fisher to merge IndyCar teams in 2015

August 17, 2014
Associated Press
Ed Carpenter Racing and Sarah Fisher Hartman Racing said Saturday they will unite to form CFH Racing. The Indianapolis-based teams will be headquartered at Fisher Hartman offices a few blocks from Indianapolis Motor Speedway.
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Tag Heuer signs sponsorship with IndyCar, SpeedwayRestricted Content

August 9, 2014
IndyCar Series officials announced a deal Aug. 6 making Switzerland-based TAG Heuer the official watch of the open-wheel series and Indianapolis Motor Speedway.
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Speedway officials seek new ways to attract fans

July 30, 2014
Associated Press
Every year the challenge of keeping racing fans engaged gets a little tougher as organizers increasingly compete against other sports and children's events while trying to get fan dollars in a still-tough economy.
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Lilly reaches multiyear agreement to sponsor IMS race

July 15, 2014
 IBJ Staff
The race, which takes place the day before the annual NASCAR Brickyard 400 race at IMS, will be called the Lilly Diabetes 250.
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Angie's List Grand Prix sponsorship targets service providers

June 21, 2014
Dennis Barbosa
It was no surprise that the Indianapolis Motor Speedway approached the Indianapolis-based consumer-review service about sponsorship of the Grand Prix of Indianapolis before the inaugural event in May. But the first response from Angie’s List CEO Bill Oesterle was no.
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Angie's List to affix name to Grand Prix as sponsor

June 3, 2014
Mason King
The consumer-review service has cut a deal to become the title sponsor of the Grand Prix of Indianapolis through 2016, and plans to help pack the stands with 5,000 of its own spectators.
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Driver Busch credits IndyCar for increased 500 TV ratings

May 30, 2014
Associated Press
The ratings increase could be attributed to Kurt Busch running both the Indy 500 and the Coca-Cola 600 on the same day, the first double attempt since 2004.
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Hunter-Reay gets $2.4 million for winning Indy 500

May 27, 2014
Associated Press
Ryan Hunter-Reay edged Helio Castroneves by 0.060 seconds Sunday in the second-closest margin of victory in the history of the race. He became the first American to win the Indy 500 since Sam Hornish Jr. in 2006.
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Hunter-Reay holds off Castroneves to win Indy 500

May 25, 2014
Associated Press
Ryan Hunter-Reay used a series of daredevil moves in the final laps to deny Helio Castroneves a chance at history on Sunday and became the first American since 2006 to win "The Greatest Spectacle in Racing."
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IndyCar's TV ratings gaining momentumRestricted Content

May 24, 2014
Anthony Schoettle
TV ratings for the IndyCar Series zoomed 44 percent this year for the races leading up to the Indianapolis 500, compared to the same period a year ago, buoyed in part by a strong showing for the new Grand Prix of Indianapolis. But overall viewership remains anemic—less than one-fourth the audience for most NASCAR races.
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LOPRESTI: Saddest day in May

May 17, 2014
The fiery crash that killed Dave MacDonald and Eddie Sachs left its mark on Foyt, Rutherford and racing.
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Mitch Daniels joins Hulman & Co. board

May 3, 2014
 IBJ Staff
Former Gov. Mitch Daniels is joining the board of Hulman & Co., which owns the Indianapolis Motor Speedway.
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Speedway outsources concession stand operations

March 7, 2014
Anthony Schoettle
The Indianapolis Motor Speedway on Friday reached a multiyear deal with Illinois-based Levy Restaurants to operate concession stands and manage premium beverage operations during major events.
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Verizon Wireless to sponsor eight of Montoya's races

February 10, 2014
Associated Press
Roger Penske wasn't worried about finding a sponsor for Juan Pablo Montoya when he signed him, believing there would be interest in the Colombian's return to open-wheel racing.
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Back to the future: Speedway to host vintage-car race event

February 5, 2014
Anthony Schoettle
The track has scheduled yet another new event for 2014. The move is bound to draw criticism from traditionalists who think Speedway officials are diluting the venue's heritage by bringing in so many extra races.
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Critics push IndyCar chief to shift focus to driver developmentRestricted Content

February 1, 2014
Anthony Schoettle
There’s no disputing that Hulman & Co. CEO Mark Miles has added horsepower to the IndyCar Series and Indianapolis Motor Speedway in his first year on the job. But there are grumblings Miles has not focused enough on the products that literally drive the series—the drivers themselves.
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Speedway sets agenda for $140M in improvements

December 11, 2013
Associated Press
The Indianapolis Motor Speedway says it is ready to start a projected $140 million in improvement projects using $100 million in state assistance.
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Speedway's May 'Grand Prix' requires road track overhaul

October 2, 2013
Associated Press
The new 14-turn, 2.434-mile course will be run the opposite direction of the Indy 500 on a newly resurfaced track that will be wider, have longer straightaways and three new passing zones, Indianapolis Motor Speedway officials announced Tuesday.
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Indianapolis Motor Speedway takes bids for food, souvenirsRestricted Content

September 28, 2013
Anthony Schoettle
The Indianapolis Motor Speedway has put its merchandise and food and beverage contracts up for bid for the first time in its 104-year history.
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Izod dropping IndyCar Series sponsorship

September 27, 2013
 IBJ Staff
The apparel brand Izod is dropping its partnership with the IndyCar Series after the conclusion of the 2013 season, leaving the open-wheel racing series without a title sponsor.
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IndyCar to run road race at Speedway in May

September 26, 2013
 IBJ Staff
The unusual move will mark the open-wheel series' first race on the hallowed track's winding interior course. And it's the highest-profile break from tradition yet in the tenure of new Hulman & Co. CEO Mark Miles.
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Dallara sees Indy operations as springboard for U.S. expansionRestricted Content

September 21, 2013
Anthony Schoettle
Dallara is preparing to install a $5 million automobile simulator in its Speedway plant—a move that could fuel the company’s plan to dramatically grow its local operation.
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IMS considers dropping MotoGP event for new sports-car raceRestricted Content

August 10, 2013
Anthony Schoettle
The upcoming MotoGP motorcycle race could be the last at the Indianapolis Motor Speedway, as NASCAR officials lobby instead for a stand-alone race for a newly merged sports-car series.
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  1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

  2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

  3. I've been looking for news on Corner Bakery, too, but there doesn't seem to be any info out there. I prefer them over Panera and Paradise so can't wait to see where they'll be!

  4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

  5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. http://www2.hamiltoncounty.in.gov/publicdocs/Campaign%20Finance%20Images/defaultfiles.asp?ARG1=Campaign Finance Images&ARG2=/Brainard, Jim

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