IndyCar Founder Tony George Steps Down From Hulman BOD

Hulman & Company, which owns the Izod IndyCar Series and Indianapolis Motor Speedway, on Friday confirmed it had received a takeover proposal for its open-wheel racing circuit from a group led by former series CEO, Tony George. The company said in a statement that George, who is a member of the Hulman family, was stepping down from his position on the Hulman & Company BOD to avoid any conflict of interest.

Hulman & Co. CEO Jeff Belskus reiterated that the IndyCar Series is not for sale and added that there are no immediate plans to fill George's vacant board seat. In a statement, George said, "I realize that my recent efforts to explore the possibility of acquiring IndyCar represent the appearance of a conflict, and it is in everyone’s best interest that I resign from the Hulman & Company board. It goes without saying that I want to do what is best for this organization.”