IndyCar CEO: Series Moving Closer To Naming New Title Sponsor
IndyCar CEO Mark Miles said that he is "hopeful the series will make an announcement regarding title sponsorship in the coming months," adding that IndyCar is "amid negotiations with a pair of potential partners," according to Jim Ayello of the INDIANAPOLIS STAR. Miles: "I'm optimistic that we'll have everything finalized by the time we get cars back on track in February." IndyCar has been "searching for a new title sponsor since Verizon informed the series it wasn't interested in renewing its contract." Verizon "served as the title sponsor for five years, replacing IZOD" in '14 (INDIANAPOLIS STAR, 12/5).
NO PLANS TO LEAVE: Miles addressed rumors that he would be leaving IndyCar, saying with a laugh, "No. I'll say it again. I'm not going anywhere." The STAR's Ayello notes some observers have wondered whether the death of IMS Chair of the Board Emeritus Mari Hulman George last month would "lead to IMS being auctioned off to the highest bidder or perhaps a restructuring of Hulman and Co.'s leadership." But Miles said, "Nothing's changing." He confirmed that IMS is "not for sale and the leadership structure will remain the same," and that he has "no reason to believe he is in anything but good standing" with a BOD that includes Hulman George's four children. Miles said that although he is "nearing 'retirement age'" at 64, his schedule "remains as chock-full as ever." He added that there is "plenty more he'd like to accomplish before he rides off into the sunset" (INDIANAPOLIS STAR, 12/5).