Two more years for USGP at IMS? Maybe not.

[pchall]

link (http://www.itv-f1.com/News_Article.aspx?PO_ID=30500)

Tony George is offered a two year extension for the USGP, but...

However, rumours in the US suggest that George is under pressure from his sisters (and fellow Indianapolis Motor Speedway directors) Kathi, Josie and Nancy not to continue with the F1 deal because it is costing the company too much money.

There has even been talk of legal action if George insists on going ahead.

Ecclestone said he had given George the option to back out of the deal.

[RTKar]

Here's what I find interesting,

There have been rumours in recent days that Ecclestone is doing a new TV deal which will result in most of the F1 races being shown on Spike TV with five big events being aired by CBS.

Could it be that Spike is using Champcar as the Guinea pig to learn how to produce a race broadcast and what would this development mean for Champcar?

[jonovision_man]

If IRL going road racing, they'd more or less be competition at that point, with F1 so obviously being the superior series. Doesn't make a lot of sense for TG to highlight the disparity every year by hosting F1!

Would the IRL be the support race? :)

That being said, TG already said publically he wants to continue the race, the sisters haven't stopped him from blowing wads of money with little hope of a return in the past. I remember that rumour floating around w.r.t. the IRL, I guess the British press haven't heard it yet so it's new to them. :)

[Sean O'Gorman]

So they worry about the loss from the F1 race but apparently gloss over the bleeding that the IRL has caused the family? Way to pick your battles...

[FanofMario]

How much has FTG blown already in IRL? 300+ Million?? I don't see the sisters now stepping in and canceling F1. There is too much political upside for IMS to host what is now there only world event. I doubt this rumor.

[Brickman]

link (http://www.itv-f1.com/News_Article.aspx?PO_ID=30500)

Tony George is offered a two year extension for the USGP, but...

However, rumours in the US suggest that George is under pressure from his sisters (and fellow Indianapolis Motor Speedway directors) Kathi, Josie and Nancy not to continue with the F1 deal because it is costing the company too much money.

There has even been talk of legal action if George insists on going ahead.

Ecclestone said he had given George the option to back out of the deal.

The sister rumour was around about the IRL too. Are the sisters members of the board? If not who is? I know that Mari George is the Chairman of the Board and Tony George is the President and Chief Executive Officer.

[FTG]

The older Mari gets, the more the sisters will speak out about Tony wasting family money.

[Chaos]

I have to admit i'm glad the USGP will be staying in Indy for a few more seasons. But it's strictly for selfish reasons. If TG is losing money on the race, I won't lose any sleep over it.

[oddlycalm]

There have been rumours in recent days that Ecclestone is doing a new TV deal which will result in most of the F1 races being shown on Spike TV with five big events being aired by CBS

I can see why they would want to do this, but IMO it blows. Nobody is going to devote the time to F1 that SPEED does. We were all worried that the all-NASCAR-all-the-time channel would ditch road racing, but their commitment to F1 seems, if anything, to be stronger than it was before. SPEED's "Swapping Paint" show was a small start to penetrate the hardcore NASCAR racing fans, and it was a small, but real, success. There is no doubt that F1 has come to be more widely regarded as "kewl" in NASCAR circles and I think that SPEED has had much to do with that.

oc

[Napoleon]

OMO the USPG has always been about splitting CART’s fan base. TG would take losses so long as CART exist.

I get a laugh out of the statement in the article that an American in F! would do much to help it popularity. But of course, IMO, the IRL has done much to destroy the top rung (s) of the road racing in America actually making it less likely someone will make it to F1



So they worry about the loss from the F1 race but apparently gloss over the bleeding that the IRL has caused the family? Way to pick your battles...


How much has FTG blown already in IRL? 300+ Million?? I don't see the sisters now stepping in and canceling F1. There is too much political upside for IMS to host what is now there only world event. I doubt this rumor.

The difference is that they have to ride the IRL at this point since without a series to feed the 500 it dies, where the USGP is expendable.



The sister rumour was around about the IRL too. Are the sisters members of the board? If not who is? I know that Mari George is the Chairman of the Board and Tony George is the President and Chief Executive Officer.

As a private company it is all but impossible to learn what the structure is. Keep in mind that even if TG and the sisters beneficially own equal shares it could be set up where one of them (TG) has total control with no effective veto over his actions by his sisters. IF his sisters and he are directors of IMS then they already have the method to block any further deal with F1.

[Brickman]

I always thought the board controlled what goes on. They could easily dictate to Tony what they will approve or disapprove or show him the door. It would be interesting to learn the makeup of the corporation, who are the board members.

As far as the USGP, the only logical choice would seem to be Watkins Glen, It would not surprise me to see ISC wanting to also get a feather in their cap for returning the USGP there. I'm not sure if they want this to just be a NASCAR nation, if they would want to hinder the expansion of F-1.

If they wanted to pay for their Pacific Northwest track they should make it a road course, put the Cup cars (wipers included (http://www.eduweb.com/rain/rain-pacnw.html)) on the track and get USGP West Coast ball rolling. I personally thing a Cup oval racing in sunny Washington/Oregon is just plain silly.

[Napoleon]

I always thought the board controlled what goes on.

It does (assuming the corporation is not subject to a close corporation agreement that eliminates the board) but the question is who picks the board and who was choosen.

I think there is a very good chance that all of the Hulman/George assets are held in a, or a series of trust. There is a very good chance that at this point Mari is still the primary benificiary and perhaps still the trustee, or perhaps it is now someone close to the family, or perhaps family itself, like TG. If the trust owns all or a majority of the shares of IMS, a proposition I would never bet against, the Trustee would be in a position to unilaterally pick the directors of IMS. The directors choosen may not include the daughters.

So even if the daughters are equal benificiaries with TG of the entire arrangement that does not answer the question of whether they have any effective say in the operation of the assets.

[stroker]

Ya think maybe FRP is doin' the sisters?

:rofl:

[Brickman]

Anybody ever use http://www.knowx.com/infoam.exe?form=officer/search.htm&userid=guest&password=welcome ?

[dando]

Here's what I find interesting,

There have been rumours in recent days that Ecclestone is doing a new TV deal which will result in most of the F1 races being shown on Spike TV with five big events being aired by CBS.

Could it be that Spike is using Champcar as the Guinea pig to learn how to produce a race broadcast and what would this development mean for Champcar?

Perhaps a test of content...Spike isn't producing the race content. Betelgeuse is handling the production, and to this point has been assumed to be controlled by OWRS (much like the former C^RT TV productions were produced through Lingner).

-Kevin