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Tony George resigns from Speedway, IRL board

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Anton H. “Tony” George has resigned from the board of directors of Hulman & Co., including the Indianapolis Motor Speedway and Indy Racing League, according to a statement from his mother, Mari Hulman George, the company's chairman.

“As members of his family, we are sorry to see Tony leave,” said Mari Hulman George in a statement released Tuesday afternoon. “We are grateful for his service to our company as a board member and of course for formerly serving as CEO and president of our companies. I speak for our whole family in wishing him well."

His resignation removes George from any remaining role in Hulman & Co., IMS, IMS Productions and other affiliated companies.

George continues to be involved in the IRL through his ownership of Vision Racing.

“All of us had hoped that Tony would continue to serve on the board, and we made that clear to him," Hulman George's statement said. "We are disappointed with his decision to step down despite our wishes.”

George was removed as CEO of the family companies on June 30. Jeff Belskus, the former IMS chief financial officer, was named his replacement and has began to overhaul business operations.

The board vacancy will be addressed at a later date, according to Hulman George. In addition to Hulman George, board members include attorney Jack Snyder and George's three sisters: Nancy George, Josie George and Kathi George-Conforti.

Hulman George said she is very pleased with the direction of the company and the progress that has been made during the last six months.

“Our company is healthy and is weathering the economic recession well,” she said. “Jeff Belskus, president and CEO of the Indianapolis Motor Speedway, and Curt Brighton, president and CEO of Hulman & Co., are both doing excellent jobs in guiding our companies through this difficult time. Many hard decisions have been made, and now our companies are well positioned for the future.”

The Speedway has been plagued in recent years by declining attendance at its two major events: the Indianapolis 500 and NASCAR’s Brickyard 400.
 
Since Belskus has taken over, more than 40 IMS and IRL employees have been terminated. Belskus also is investigating other business initiatives, including turning the Speedway into a multi-use facility, and outsourcing catering and operations at the Brickyard Crossing Golf Resort.

George's departure leaves myriad questions as Belskus works to put his stamp on the operation. Some racing sources say his departure shows just how deep the rift is between George and the rest of his family regarding the direction of the company.

There has even been speculation that the board could move to spin off the IRL, fold some of the events at the track, namely the Brickyard 400 or MotoGP motorcycle race, and possibly even consider selling the Speedway. Belskus has stressed several times that the IMS is not for sale and there is no consideration at this time to kill any of its events.

Among the things that rankled Tony George, motorsports sources said, was Belskus' and the board's decision to downsize May's Indy 500-related event schedule.
 

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  • circle complete??
    So the 97th running of the 500 was the 18th under the Tony George IRL banner. It was the most exciting form of auto racing you will EVER see, they set a bunch of records and everybody is excited about the 98th, the 99th and the 100th. Yes the Circle is complete under the Tony George banner, and the end result is a wonderful Indy500!!
  • Good Riddance?
    so mike, this years Indy500 lists Anton Hulman on the board and the 500 set a bunch of new records and was by far the most exciting form of auto racing you will EVER see. So what's this comment about good riddance and ruining the sport all about??
  • Poor Decisons
    The George/Hulman Family should of been Smart and let Tony George stay as President.Thats whats WRONG in The United States The people in Charge have NO Business having the Boss Title. Bring Back Tony as President! Thank You!
  • Good Riddance
    Tony George destroyed a thriving, popular, and profitable professional sport. Just like in 1994 when he threw a tantrum because CART wouldn't sell him the series for $1 million. Now the family cuts off the checkbook and another tantrum.

    Sadly the sport is destroyed beyond recognition and I think the lack of IMS money will slowly kill off the whole series and American open wheel sport.
    • circle complete
      TG's vision was nearsighted at best. He sold the ridiculous vision to many fans, most however never bought it. Look what it has become, an estimated $600 million over 16yrs, oh and what about an all American all oval series? Nice job, I'm sure your fans are proud of your accomplishments, looser. BYBY
      Bring back CART!!
      • Spin away
        I was right! Indy"placefan"man is too stupid to understand what his pal Tony has done to AOW racing. I'll bet he thinks Tony will buy the IMS and IRL too! I have a bridge for sale and ocean front property in Az. if you want!
      • Oh the hate. You guys are really funny in a sad way. But I have long said you guys would not be happy until IMS was out of business. Of course that will not happen, it shows the majority of you are probably out of town hacks who were laid off when cart et al... went under and blame TG for it.
        Truly sad folks. But as with most of your predictions, IMS will keep on going.

        Truth,

        Not really sure how I spend IMS's money, I guess it shows how little grasp you have on reality. Just like the $600 million, some number some anti IMS hack pulled out of the air and you trumpet it like it is the Gospel. Still waiting on the link about Fred Nation.
      • ha ha
        Great news!. Good riddance, riddance loser. Indymanboylove on suicide watch. LMAO.
      • TOney TOney TOney
        Read the blog of the biggest indy fan

        http://iambif.com/bif/
      • Insert Fork.
        It's done. 2010 and 2011 Indy 500's for "Centennial's" sake and then the H-G clan can recoup all the losses with the land sale and proposed-developments.Then the Krisiloff kids and other George-Hulman-ee related whatever wonder munchkins can get their wad and bo blow more dope and scarf Steak and Shakes. This is the REAL story. Belskus, indeed will turn the place into a "multi-use" facility. Just not one that includes racing! Baaaahaaaahhhhaaaaaaaa!!!!
      • Wooopsie!
        Hey Indyman, evidently nobody bought Toney's story! And THAT is the subject here.

        The IRL: The answer to a question NOBODY asked. LOL.
      • What's up with
        that "TOney" thing. I have to admit that I don't get it...
      • iman's Fantasies
        it was the 600 millions dollars the family no longer has because you ans TOney spent it
      • The haters hate, but they do not have answers.

        Come on guys, do you think people are buying your story?
      • Run what you brung
        Don't fool yourselves, AJ's rift with Penske had EVERYTHING to do with the "I'm takin' my ball and goin' home" IRL decision. Results are now pretty obvious. Really too bad it took Mari this long to have a sober moment to understand (if that's possible) what a mess the Indy 500 and IRL series was in - does nobody except me know that there we never any spectators at any IRL race except Indy? The ones that were there were mostly family of crews.
        Who is Belskus and does he know ANYTHING about racing ar is he just another "suit"? Let's take it back to the 60's and 70's when there was a lot of innovation in engines, cars and tires. Let's do away with the glorified go karts and get back to REAL racin'! Stuck in the 60's - HELL yes, bring back AJ watson, Andy G, remember that JC guy with the hat? Hard to tell what Smokey Yunick was really running - he wouldn't tell and you couldn't see. Want ideas? Hire me - I'm full of 'em. Can't be worse than it is now - bet attendance this year goes to the toilet - just watch.
      • AHHH HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA
        OMFGLOL.

        Too bad it's way too late. Should have happened in 1992. But noo, they had to be stubborn about it.

        I hope the entire Hulman-George crime family, and all of the enablers over the years of this farce and fraud, end up destitute or in prison or both.

        GFY, Anton.


        code = pdypm
      • Head rat
        Tony is just another rat leaving an almost sunk ship.
        Indy"placefan"man can spin this many ways but the facts remain Tony killed AOW and his own race with his stupid ego. You girls can have that pathetic excuse called racing.
      • Still with the same old tired story, and it still does not hold water. Here is what the haters want us to believe.

        cart/ccws/owrs was the greatest thing since sliced bread. then TG decided to form his own race series just because. All he had was IMS. the wonderful series known as cart/ccws/owrs had the "cars and the stars", had the sponsors, the tracks,the fan base, and the owners. This TG, with only one track, a bunch of no name drivers etc.... was somehow able to drive the most wonderful series into multiple bankruptcies and finally out of existence? this is your story? wow, that is a story even Hollywood would never believe.
      • thanks tOny
        Thanks for running away from the sport YOU pledged protect. YOU killed it Tony George.

        Thanks for NOTHING
      • iman's issues
        when you and the rest of the TOney supporters are gone, everything will be fine.
      • It's over
        Hopefully the rest of the family can do a better job improving the product. Can't do much worse than the man who destroyed a perfectly fine series and sent all the fans to NASCAR.

        George leaves us with exactly the same product he strongly opposed, open wheel racing with tons of road courses and foreign drivers. The only difference is the destruction of the fan base. What a schmuck!
      • He's Nothin' but a BIG BABY
        Just like he started the IRL by splitting the AOW sport and taking his marbles home (Indy 500), the spoiled 50 year old brat quits because his prized folly is just that...a folly. Hulman businesses caught on before this meddler destroyed EVERYTHING Anton Hulman ever created. Good job family. Tony is run out of town on a rail, and in shame. Indianapolis should rejoice as should every business and person that took the hit due to the "SPLIT".

        Indyman: Lose the IRL moniker, get rid of the deathtrap 10 year old Dallara cars and Danica....then you might have us back as fans. Until then...NO WAY. Belskus is on the right track to restoring the integrity of the speedway that Tony George followers allowed to destroy.

        Bye Tony, don't let the door hit you on the way out....bwabahhahhahhaha!
      • wow
        History will be Soooo kind to TG. What a loser, on ALL counts!
      • Still rattling off the same number with no link or proof to it being right. Typical.

        So now with TG totally gone, you haters should now become big fans of IMS. I mean you guys always said you hated him, not the track. Or am I right when I pointed out you hate all things Indy?
      • Agast
        600 hundred million dollars of other people's money and nothing to show for it but a sport he destroyed.

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