The 2024 running motorsports thread

Jay Penske's website Sportico is reporting that Michael Andretti is relinquishing his ownership stake in Andretti Global.

The company was rebranded as Andretti Global in 2023, less than a year after executive Dan Towriss and his holding company Group 1001 bought an ownership stake in the Andretti motorsports operations. The investment was in part to fund a potential Formula One team.

Andretti has for some time been eyeing a transition from his operational role.

“Michael’s goal has been to transition to a more strategic role with Andretti Global and focus less on the operational side of the race team,” Andretti Global said in a statement to Sportico. “He and Dan Towriss have been working on a structure of what this could look like and have reached a direction that Michael is very happy with and believes will bring a positive future. Michael remains engaged and will continue to serve as a strategic advisor and key ambassador. We will have more to share in the coming weeks after Michael and Dan have had an opportunity to speak to the team.”

Last year F1 Andretti Global was a bidder for an expansion F1 team. Andretti was vocal about his desire to land a team, an outspokenness which didn’t help the organization’s bid with the typically tight-lipped F1 governing body. F1 didn’t add any new teams.

Towriss did not immediately respond to a request for comment. ​

Towriss' Group 1001 owns Gainsbridge, which has been heavily involved in Andretti sponsorships for several years.

https://www.sportico.com/leagues/mo...ti-exit-ownership-andretti-global-1234798932/
https://racer.com/2024/09/27/michael-andretti-steps-back-from-andretti-global-ownership-role/

 

So war has been decared on France (The NASCAR one)

23XI Racing, Front Row Motorsports sue NASCAR alleging monopolistic practices
https://www.teamfrm.com/post/23xi-racing-and-front-row-motorsports-sue-nascar-and-ceo-jim-france

 

I could see this both "killing" and "saving" NASCAR at the same time. It is ridiculous to me that the IRL and NASCAR are essentially family businesses.

 

I didn't know that.

 

And Penske is close to being is a similar boat as France with IndyCar going charters, being a series/team/track owner

 

Maybe these guys can call Michael Andretti and the number of a congressman to open an investigation.

There shouldn't be charters. I don't think there any too many cars failing to make the field these days, but it's racing. If you want to run on Sunday, bring a good car to the track on Friday.
NASCAR has been an iron-fisted monopoly since Big Bill rented a room at the Streamline Hotel. "Coke, the official drink of NASCAR!" "Pepsi, the official beverage of ISC tracks!"

I don't know if this is just one of the death throes of the sport or another nail in the coffin, but it's something like that.

 

Honestly, the Hulman family never needed the money after Clabber Girl. Tony Hulman Jr. bought the Speedway in 1946 as part philanthropy/part vanity project as a favor to Wilbur Shaw and to promote his baking powder. It was about to become a post-war housing development like the properties surrounding it. When Shaw died in a plane crash eight years later, Hulman continued to expand and improve the track with the money he was making from his core business.

Even considering the enormity of the month of May, I doubt the track "made" money with only one race. Did it turn a profit? Sure, but not to the extent you've think of in today's terms with TV money footing the bill.

It wasn't until he died and the plane crash that killed most of USAC's executives in 1978, followed by Penske's famous White Paper, that the heirs began to think of the Speedway as the cash cow. Tony George then had the money from the NASCAR TV contract and Brickyard 400 to start the IRL, which pissed off his sisters when he blew through that pretty quickly.

I think Hulman paid something in the neighborhood of $750,000 for the facility in 1946, so I'd say they did alright for themselves in the end.

 

And my apologies for the minutia involving IMS and the 500. I'm not Donald Davidson but have soaked up the history of the place and the race over the past 55 years so I have a Hoosier perspective despite not seeing a race in person there until I was in my 30s.

I wanted to be Sid Collins, Paul Page or Bob Jenkins for so long, I memorized everything just in case. But I never applied for the job!