Tag: Hulman-George family

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Indianapolis Motor Speedway responds to AP report

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Hulman & Co., parent company of the Indianapolis Motor Speedway and IndyCar, issued a statement late last night following an Associated Press report that said Boston Consulting Group had told the Hulman-George family to retain ownership of both entities.

In the statement, Hulman & Co. CEO Mark Miles explained his company’s hiring of BCG late last year to “assist in developing a long-term strategic plan for the growth of its motorsports business” and also said that the document the AP used was “an early version…that is the subject of several news reports [Friday], that include suggested elements for the plan.”

“BCG examined many important questions throughout this process, including how to define our overall brand, how our motorsports properties can attract more fans, how we can make our races more appealing to television viewers and live audiences, and how we can help our teams, partners and other stakeholders be more financially successful because of our relationship,” Miles continued.

Miles closes the statement by stressing that Hulman & Co.’s strategy on how to boost its racing properties was not yet complete, and that “feedback and ideas” from stakeholders in the company would be listened to as part of the process.

“The work BCG has done provides conversation points around several important areas of our business as we shape our thinking about the future, but our strategy has not yet been finalized,” he said. “As part of finalizing our strategy, we will be sharing information with our stakeholders and listening to their feedback and ideas before we come to any final conclusions.

“We are in the early stages of this process and will be communicating to our stakeholders and fans as we define our strategy for the future.”

The AP’s report on Friday highlighted suggestions from what it says is a 115-page report on how IndyCar could be better positioned in upcoming years. The Hulman-George family is not obligated to follow BCG’s suggestions.