Motorsports

Danica Patrick's NASCAR move could fuel MainGate growth

December 12, 2009
 IBJ Staff
MainGate holds an exclusive license to make and sell Patrick’s IRL-centric merchandise, and is now in negotiations with New York-based IMG to get part of her NASCAR-related business.
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Motorsports industry show to stay here through 2015

December 5, 2009
 IBJ Staff
The inaugural show opened Dec. 2 at the Indiana Convention Center, and is expected to draw more than 10,000 attendees.
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Sarah Fisher Racing triples size of race shop on city's west side

December 5, 2009
 IBJ Staff
The team moved just a few suites down from its Park 100 facility, but officials said it’s a big move for the Indianapolis-based Indy Racing League operation.
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IRL loses public relations vice president, Speedway hires first-ever CIO

November 28, 2009
 IBJ Staff
Race track's new chief information officer previously worked at NCAA, Indianapolis Museum of Art.
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Mayor's European mission focusing on motorsports industry

November 16, 2009
A delegation of business and community leaders led by Indianapolis Mayor Greg Ballard departed for Europe Nov. 14 on a nine-day economic development mission to help grow the city’s motorsports industry.
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Sarah Fisher extends sponsorship deal with AAA

November 14, 2009
 IBJ Staff
Izod IndyCar Series driver Sarah Fisher recently renewed her contract with AAA Hoosier Insurance. AAA will continue to be a personal sponsor of Fisher and will remain an associate sponsor on Fisher’s No. 67 car for the 2010 and 2011 Indianapolis 500s.
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Speedway cuts 40 employees in latest cost-saving move

November 12, 2009
Scott Olson
A source at Indianapolis Motor Speedway said IMS laid off 40 employees Wednesday, mostly from its human resources department, in a cost-saving move.
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Telecom supplier Telamon hopes to 'ignite' racing industry

November 6, 2009
Scott Olson
Carmel-based Telamon Corp. rose to become one of the largest minority-owned businesses in the area largely by serving telecommunications giants. Now it is veering off its traditional course to supply racing teams with an ethanol-based fuel made from Indiana corn.
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Influential team owner thinks hot rod group should move HQ from California to BrownsburgRestricted Content

September 26, 2009
Anthony Schoettle
A meeting between high-level National Hot Rod Association executives—including NHRA President Tom Compton—and Gov. Mitch Daniels and members of the Indiana Economic Development Corp. has fueled speculation that the drag racing group might be looking to significantly expand its presence here.
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Local company acquires monster truck series

August 11, 2009
 IBJ Staff
The Promotion Co Inc., an Indianapolis-based event promoter, said today that it has acquired the Monster Nationals series of monster-truck shows from Image Promotions Inc. in Chardon, Ohio.
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New Speedway boss Jeff Belskus: 'We do face some challenges'Restricted Content

August 10, 2009
Anthony Schoettle
New Speedway leader Jeff Belskus speaks with IBJ about his new job and the near-term challenges and long-term future of the operations he oversees.
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Indianapolis Motor Speedway CEO takes over at difficult timeRestricted Content

August 10, 2009
Anthony Schoettle
New Indianapolis Motor Speedway CEO Jeff Belskus has long been a behind-the-scenes figure at IMS. As the new leader of the Brickyard and the Indy Racing League, he faces several challenging issues, including gaining the confidence of the racing community.
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BENNER: Time for some perspective on Tony George's legacyRestricted Content

July 13, 2009
Bill Benner
Reports of a Hulman-George family feud proved dead-on accurate when matriarch Mari Hulman-George issued a statement June 30 confirming the ouster of her son, Tony, as CEO of the Indianapolis Motor Speedway and the family business empire. Shortly thereafter, Tony George also resigned as CEO of the Indy Racing League.
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Tony George's successor might trade tradition for revenueRestricted Content

July 6, 2009
Anthony Schoettle
A management shake-up at the Indianapolis Motor Speedway has some in the motorsports industry thinking major changes could be on the horizon at the fabled race venue—maybe as soon as next year.
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F1 team picks Charlotte for new headquartersRestricted Content

May 4, 2009
Scott Olson
A decision by a startup Formula One team to set up shop in Charlotte, N.C., is fueling debate over whether Indianapolis still is the self-proclaimed "motorsports capital of the world."
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George gives IRL four years to break even ... or elseRestricted Content

May 4, 2009
Anthony Schoettle
Indy Racing League founder Tony George dropped a bombshell in December when he told an industry group that he would shut down the open-wheel series if it didn't break into the black soon.
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New motorsports trade show takes aim at departed PRIRestricted Content

April 27, 2009
Anthony Schoettle
Still stinging from the city's loss of the giant Performance Racing Industry trade show in 2004, a group of local motorsports business advocates is racing to put on a competing event.
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MotoGP race will give Speedway whole new lookRestricted Content

September 8, 2008
Anthony Schoettle

Fans walking into the Indianapolis Motor Speedway for the First MotoGP race there Sept. 14 likely won't recognize the place. Sponsor ads will hang on the inside walls of the track. There will be a host of companies in the hospitality area--including Yamaha, Kawasaki, Ducati and Repsol--that have never set foot inside the Speedway's grounds.  The motorcycle-specific nature of the Red Bull Indianapolis GP will permeate every facet of the event and affects all elements of the host city's planning.


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Overshadowed by Patrick, Fisher fights to keep racingRestricted Content

May 12, 2008
Anthony Schoettle
A group of motorsports journalists stood open-mouthed along the wall of the Texas Motor Speedway in 1999 as they watched 19-year-old Sarah Fisher, fresh from the sprint car and dirt track circuits, zip past veteran open-wheel racers Buddy Lazier and Billy Boat. What happened to Fisher over the next nine years is equally amazing--and mystifying--to those same motorsports experts who watched her in Texas.
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Luring MotoGP may ease hit to Speedway if F1 departsRestricted Content

July 9, 2007
Anthony Schoettle
Bringing MotoGP--the world's highest level of motorcycle racing--to the Indianapolis Motor Speedway could easily draw more than 150,000 spectators and net an eight-figure windfall for track owner Tony George.
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Stewart helping promote Indiana to racing companiesRestricted Content

December 11, 2006
Anthony Schoettle
City and state officials are igniting a souped-up effort to draw motorsports-related companies here, and they're enlisting Hoosier-born NASCAR champ Tony Stewart to help drive their message home.
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IRL losing momentum againRestricted Content

August 7, 2006
Anthony Schoettle
Smoke coming from the Indy Racing League's business model indicates it's leaking oil. Two IRL teams recently folded and at least two more are in serious financial distress. Television ratings and race attendance is either flat or trailing last season.
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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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