Seeking6 Posted November 4, 2019 Report Share Posted November 4, 2019 Thought this deserved a thread. IMS sold to Penske. Wow.....just wow. Link to comment Share on other sites More sharing options...
HoosierJax Posted November 4, 2019 Report Share Posted November 4, 2019 Unbelievable....that track has been in the Holman-George family for decades...Roger Penske has deeper pockets than I thought...wow is right! Link to comment Share on other sites More sharing options...
Zlinedavid Posted November 4, 2019 Report Share Posted November 4, 2019 He already owned it, may as well buy it. I think this will ultimately be a good move. The history of the Speedway can't be told without Tony Hulman, and I don't know of a single fan that isn't appreciative of what he built. That said, I can't say I'm sad knowing that there is zero chance that Tony George will be involved with IndyCar ever again. I think Roger will be a good steward of the track, the race and the series going forward. The 500 means a lot to Penske. I think he knows he wouldn't be where he is today without IMS. Link to comment Share on other sites More sharing options...
Zlinedavid Posted November 4, 2019 Report Share Posted November 4, 2019 2 minutes ago, HoosierJax said: Roger Penske has deeper pockets than I thought Net worth just shy of $2 billion, and for the most part, self--made. Upper middle-class upbringing, but wasn't born into serious wealth. Link to comment Share on other sites More sharing options...
Seeking6 Posted November 4, 2019 Author Report Share Posted November 4, 2019 2 minutes ago, Zlinedavid said: He already owned it, may as well buy it. I think this will ultimately be a good move. The history of the Speedway can't be told without Tony Hulman, and I don't know of a single fan that isn't appreciative of what he built. That said, I can't say I'm sad knowing that there is zero chance that Tony George will be involved with IndyCar ever again. I think Roger will be a good steward of the track, the race and the series going forward. The 500 means a lot to Penske. I think he knows he wouldn't be where he is today without IMS. I'll just add to this. George and his family have long had let's call them family problems. Never agreed with each other,etc.....maybe it was just time to take the $ and hand the reigns to someone like you said will be a phenomenal steward for what IMS means to folks. Link to comment Share on other sites More sharing options...
Zlinedavid Posted November 4, 2019 Report Share Posted November 4, 2019 Also, for those with longer memories (aka, those of us between semi-old to ancient fartdom), this isn't Roger's first venture into track ownership. He owned Michigan, Fontana, Nazareth and Rockingham until he was bought out by ISC (aka NASCAR). I think that's one business move that he's always regretted. No better way for redemption than buying the most famous track in the world, I guess. Link to comment Share on other sites More sharing options...
Zlinedavid Posted November 4, 2019 Report Share Posted November 4, 2019 3 minutes ago, Seeking6 said: I'll just add to this. George and his family have long had let's call them family problems. Never agreed with each other,etc.....maybe it was just time to take the $ and hand the reigns to someone like you said will be a phenomenal steward for what IMS means to folks. The Hulman/George family is kind of like the Ewings from the series Dallas....only without the drawl and Stetsons. Never short on drama or conflict. Link to comment Share on other sites More sharing options...
rico Posted November 4, 2019 Report Share Posted November 4, 2019 4 minutes ago, Zlinedavid said: Also, for those with longer memories (aka, those of us between semi-old to ancient fartdom), this isn't Roger's first venture into track ownership. He owned Michigan, Fontana, Nazareth and Rockingham until he was bought out by ISC (aka NASCAR). I think that's one business move that he's always regretted. No better way for redemption than buying the most famous track in the world, I guess. And that gets him right back into NASCAR with more clout than he already had. Link to comment Share on other sites More sharing options...
Seeking6 Posted November 4, 2019 Author Report Share Posted November 4, 2019 1 minute ago, Zlinedavid said: The Hulman/George family is kind of like the Ewings from the series Dallas....only without the drawl and Stetsons. Never short on drama or conflict. Yep. Once the shock goes away people will realize this might be a good thing. Businesses have to change and be innovative and if the George clan could never get along....might be best to let someone who can take IMS into the future. Link to comment Share on other sites More sharing options...
Zlinedavid Posted November 4, 2019 Report Share Posted November 4, 2019 4 minutes ago, rico said: And that gets him right back into NASCAR with more clout than he already had. Oh yes. Here's the memo running through Roger's mind: "Dear France family: *middle finger* Sincerely, Roger" Link to comment Share on other sites More sharing options...
HoosierJax Posted November 4, 2019 Report Share Posted November 4, 2019 Wonder if Indy will be the first track to host Indy car and nascar in the same weekend...won’t happen on Memorial Day,but it could on the weekend of the road course race. Link to comment Share on other sites More sharing options...
HoosierJax Posted November 4, 2019 Report Share Posted November 4, 2019 20 minutes ago, Zlinedavid said: Net worth just shy of $2 billion, and for the most part, self--made. Upper middle-class upbringing, but wasn't born into serious wealth. How much of that 2 billion was spent on his purchase? Couldn’t have been cheap. Link to comment Share on other sites More sharing options...
Zlinedavid Posted November 4, 2019 Report Share Posted November 4, 2019 3 minutes ago, HoosierJax said: How much of that 2 billion was spent on his purchase? Couldn’t have been cheap. That's his personal net worth. I'm sure the purchase went through Penske Corporation, which would be able to leverage various ways of raising capital. Link to comment Share on other sites More sharing options...
Seeking6 Posted November 4, 2019 Author Report Share Posted November 4, 2019 19 minutes ago, HoosierJax said: How much of that 2 billion was spent on his purchase? Couldn’t have been cheap. IMS and Hulman/George have one of the most unique venues in the world and after decades no one still knows what they actually make out there or what the track might be worth. There's the business side where normal valuations can be figured out....but what price tag is put on one of the most iconic venues in all of sport? Doubt the numbers will ever be made public. It's just the way they roll. Link to comment Share on other sites More sharing options...
Seeking6 Posted November 4, 2019 Author Report Share Posted November 4, 2019 One other thing to keep an eye on. Penske and the France family (Nascar) have never gotten along. My guess is the days of the Brickyard 400 could be gone.....or drastically changed (i.e. lights or something else) to make this a better race that will attract fans. My guess is the race will be eliminated. Link to comment Share on other sites More sharing options...
rico Posted November 4, 2019 Report Share Posted November 4, 2019 23 minutes ago, Seeking6 said: One other thing to keep an eye on. Penske and the France family (Nascar) have never gotten along. My guess is the days of the Brickyard 400 could be gone.....or drastically changed (i.e. lights or something else) to make this a better race that will attract fans. My guess is the race will be eliminated. I highly doubt that, my guess is Roger sinks his teeth into NASCAR. And by that, to my previous post, clout. Link to comment Share on other sites More sharing options...
Seeking6 Posted November 4, 2019 Author Report Share Posted November 4, 2019 1 minute ago, rico said: I highly doubt that, my guess is Roger sinks his teeth into NASCAR. And by that, to my previous post, clout. Saw your post. Time will tell. Not sure which way this one rolls. Link to comment Share on other sites More sharing options...
dwtaylor1055 Posted November 4, 2019 Report Share Posted November 4, 2019 Wowza this is way out of left field news for a Monday morning. Link to comment Share on other sites More sharing options...
5fouls Posted November 4, 2019 Report Share Posted November 4, 2019 Roger is what, about 80 years old? I hate to ask, but what happens when he dies? Link to comment Share on other sites More sharing options...
Zlinedavid Posted November 4, 2019 Report Share Posted November 4, 2019 1 minute ago, 5fouls said: Roger is what, about 80 years old? I hate to ask, but what happens when he dies? 82, although he appears to be in great health. He's never been a big media guy, but in recent interviews, he still seems energetic (for 82) and sharp. His son Greg is heavily involved in the management of the Penske Corporation and the current president of Penske Racing, Tim Cindric, has been with Roger for 30+ years. Both are more than competent. Link to comment Share on other sites More sharing options...
HoosierJax Posted November 4, 2019 Report Share Posted November 4, 2019 1 hour ago, Seeking6 said: One other thing to keep an eye on. Penske and the France family (Nascar) have never gotten along. My guess is the days of the Brickyard 400 could be gone.....or drastically changed (i.e. lights or something else) to make this a better race that will attract fans. My guess is the race will be eliminated. Can’t see the race being eliminated,to much sponsor money..it’s even been said that even without the fans in the stands they still make money...now the lights idea would be awesome Link to comment Share on other sites More sharing options...
cthomas Posted November 4, 2019 Report Share Posted November 4, 2019 1 hour ago, Seeking6 said: One other thing to keep an eye on. Penske and the France family (Nascar) have never gotten along. My guess is the days of the Brickyard 400 could be gone.....or drastically changed (i.e. lights or something else) to make this a better race that will attract fans. My guess is the race will be eliminated. I was generally ok with NASCAR coming originally but now think it may be time to go. Felt the same way about F-1. That crowd got old fast. What I really enjoyed was Moto-GP. Watching those motorcycles work those road course turns was amazing! Link to comment Share on other sites More sharing options...
rico Posted November 4, 2019 Report Share Posted November 4, 2019 51 minutes ago, Seeking6 said: Saw your post. Time will tell. Not sure which way this one rolls. My guess as I alluded to is a power play. Roger is the biggest name in auto racing. Helluva nice guy too, met him once down at IMS. Link to comment Share on other sites More sharing options...
Seeking6 Posted November 4, 2019 Author Report Share Posted November 4, 2019 Watching presser live. Roger no doubt is the right person to takeover this role. Absolute understanding of the track with let's face it the resources and muscle to make IMS and IndyCar a dominant series again. Spoke of adding another car manufacturer to series, making IMS a little more fan friendly in certain areas.....also said he'll be stepping down from certain role of his racing job because IMS deserves all of his attention. All mgt team will remain in place at IMS. Paraphrasing here but I think he's going to pour a TON of money into Indy and specifically Speedway. Link to comment Share on other sites More sharing options...
rico Posted November 4, 2019 Report Share Posted November 4, 2019 8 minutes ago, Seeking6 said: Watching presser live. Roger no doubt is the right person to takeover this role. Absolute understanding of the track with let's face it the resources and muscle to make IMS and IndyCar a dominant series again. Spoke of adding another car manufacturer to series, making IMS a little more fan friendly in certain areas.....also said he'll be stepping down from certain role of his racing job because IMS deserves all of his attention. All mgt team will remain in place at IMS. Paraphrasing here but I think he's going to pour a TON of money into Indy and specifically Speedway. And Tony can kiss my white arsz... Link to comment Share on other sites More sharing options...
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