Thursday, May 22, 2008
In this era of mergers, takeovers, buyouts and bankruptcies, it's close to an anomaly that the Hulman-George family still owns and operates the Indianapolis Motor Speedway after nearly 63 years.
Until the modern era of major league sports, it was quite common for one person to buy a team, run it for a number of years and then hand control to his or her descendents. But the advent of television and the ensuing tremendous hike in team monetary value as cities across the country and wealthy business people eagerly bid for ownership has reduced the family-run operations to a scant few.
On Nov. 14, 1945, Terre Haute, Ind., businessman Tony Hulman purchased the famed but rundown 2 ½-mile racetrack located 5 miles from downtown Indianapolis at the urging of Wilbur Shaw, who won three of the last five 500-Mile Races held there before the U.S. entered World War II. Hulman bought the track from famed American World War I flying ace Eddie Rickenbacker.
The Speedway remains under family control, with chairman Mari Hulman George, Hulman's daughter, and Speedway chief executive officer Tony George, his grandson.
After he purchased the track, Tony Hulman immediately embarked on a massive renovation project of the dilapidated facility, with the track re-opening in time for the 1946 Indianapolis 500.
Centennial Era Etched Logo Decanter
Centennial Era Decanter With Etched Logo. Holds 23.5 Ounces.
That legacy of facility improvement has continued under the Hulman-George family's stewardship. The most ambitious project since the construction of the track in 1909 took place from 1998-2000, when the Bombardier Learjet Pagoda control tower and Pagoda Plaza, pit-side garages and a road course that included portions of the famed oval were built.
Speedway CEO Tony George also has added additional world-class events since he took control of the facility in January 1990.
NASCAR raced at IMS for the first time in 1994, and the Allstate 400 at the Brickyard quickly became one of the marquee events of stock car racing. Formula One returned to America for the United States Grand Prix at Indianapolis from 2000-07, and MotoGP motorcycle racing will come to a new, 2.620-mile road course at IMS for the inaugural Red Bull Indianapolis GP in September 2008. It's a fitting return for bikes, as the very first motorized event at IMS was a motorcycle race in August 1909.
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IMS tickets: To purchase tickets, camping or parking for the Indianapolis 500, Allstate 400 at the Brickyard and Red Bull Indianapolis GP, contact the IMS ticket office at (800) 822-INDY outside the Indianapolis area, (317) 492-6700 locally or log on to www.indianapolismotorspeedway.com.
