Motorsports-focused CARA Charities has ceased operations, the organization announced Monday. Championship Auto Racing Auxiliary Inc. said it was “unable to generate the financial means necessary” to continue supporting the auto-racing community in Indianapolis and beyond.
Nearby businesses hope upgrades to the Indianapolis Motor Speedway from a proposed state taxing district would pave the way for additional offerings at the venue, including night racing.
Veteran executive Mark Miles now has one of the most difficult jobs in sports—putting open-wheel racing on sound financial footing.
IndyCar has released Lotus from its contract, leaving Chevrolet and Honda as the only two engine suppliers for the upcoming season.
In a matter of a few months, operators of the Performance Racing Industry show and its upstart rival, the International Motorsports Industry Show, went from being bitter rivals to merging—a deal that will return the world’s largest motorsports trade show to Indianapolis next December.
Purdue University says jobs created by the racing sector in Indiana pay an average annual wage of nearly $63,000, well above the $39,700 state average.
The new CEO of Hulman & Co. gets an early vote of confidence from sponsors of open-wheel racing.
Hulman & Co., which owns Indianapolis Motor Speedway and the IndyCar series, has chosen board member and local economic development leader Mark Miles as its new CEO, the firm announced Tuesday morning.
The Performance Racing Industry Show will return to Indianapolis for five years starting in 2013, bringing about 40,000 guests and millions of dollars of visitor spending with it.
Jeff Belskus, the president of Indianapolis Motor Speedway, and the president and CEO of Hulman & Co., will step in as interim CEO of the IndyCar Series, replacing Randy Bernard.
IndyCar Series owners have fired CEO Randy Bernard, sources familiar with the situation told IBJ on Friday afternoon. IndyCar officials are denying the firing.
IndyCar founder Tony George resigned Friday from the Hulman & Co. board of directors, citing a conflict of interest in his recent attempt to reacquire the series.
Tony George has offered a seven-figure cash proposal to take over operations and assume future losses for the IndyCar Series.
The Sports Business Journal is reporting that former Indianapolis Motor Speedway CEO Tony George has assembled an investor group that includes race team owners Chip Ganassi, Roger Penske, Michael Andretti and Kevin Kalkhoven to buy the IndyCar Series.
Robert Newton, 85, the founder of northern Indiana-based Hoosier Racing Tire, which made tires for NASCAR and other racing series, has died.
IndyCar said Tuesday it is exploring partnerships with tire manufacturers besides Bridgestone Firestone, which has been the sole supplier for the series and under contract through the 2014 season.
The 2013 IndyCar Series schedule could include a date at Pocono Raceway in Long Pond, Pa., a traditional NASCAR stronghold that hasn’t hosted an open-wheel race in 23 years.
Officials say they hope the aftermath of Hurricane Isaac won’t force them to postpone weekend festivities at Lucas Oil Raceway. Another big weekend event, Rib Fest America at Military Park, will be held rain or shine, promoters say.
The Gen Con Indy gaming convention and the MotoGP race are among several events the city is hosting that could produce an economic impact of $150 million, according to the Indianapolis Convention and Visitors Association.
Group Lotus Plc is considering leaving the IndyCar Series as an engine supplier at the end of this season—its first as a part of a five-year deal it signed last year to supply turbo engines to IndyCar teams.
