Hulman & Co. Hires Boston Consulting Group To Evaluate Businesses, Including IndyCar
Hulman & Co., which owns Indianapolis Motor Speedway and the IndyCar Series, has hired Boston Consulting Group to do a full evaluation of its business operations. "We hire groups like this from time to time and have over the years," said Hulman & Co. CEO Jeff Belskus. "It's part of our normal business planning cycle as we think about the future and both our near-term and long-term plans. It's helpful to have an independent view and fresh eyes on what we're dealing with. What opportunities are there out there? How do we take advantage of those opportunities?" Boston Consulting Group has the ability to offer merger-and-acquisition and divestiture advice, but Belskus said the company would not do any work on the recent takeover offer the company received from Tony George for the IndyCar Series. "The two are completely unrelated," said Belskus, who has reiterated in recent weeks that the IndyCar Series is not for sale. "Boston Consulting Group is not being used to evaluate any expression of interest we've received. It's just coincidental, the timing of the two." Boston Consulting Group is expected to complete its work before the end of the year. Belskus said the group will focus on Hulman & Co.'s strategy and operations. He said that consultancy execs will interview Hulman staff and speak to partners of the IndyCar Series and IMS in order to come up with ways to improve the organizations and the value they offer partners. "This particular project is exciting for us," Belskus said. "The Boston Consulting Group is a world renowned group focused on strategy. They're one of the best in the business and we're excited to be working with them." He added, "We're focused on revenue growth. Revenue generation. Our cost structure. What do we do to reduce costs? We're focused on value to partners. We have a lot of external stakeholders and we want to make sure we're providing value." This is not the first time Boston Consulting has worked in sports. The Big East Conference recently hired it to evaluate its organizational structure and develop strategies to help it succeed in the changing college sports landscape.