Thinking outside the box: What if the NASCAR Frances were to buy Indianapolis Motor Speedway.....

  NASCAR, in its 15 years at the Speedway, has contributed a lot to Indy lore...like Dale Earnhardt outfoxing Rusty Wallace to win this one (Photo: IMS)
  

   By Mike Mulhern
   mikemulhern.net

   FONTANA, Calif.
   Scrap that NASCAR-GrandAm double-header at the Brickyard next summer.
   NASCAR's GrandAm series finally released its 2010 tour schedule, and on the Sprint Cup's Brickyard 400 weekend – July 25th  is race day – the sports car series will be idle.
   NASCAR president Mike Helton had indicated three weeks ago, just after a GrandAm test around Indianapolis Motor Speedway's Formula One course, that a Cup-GrandAm double-header at Indy was possible.
   In fact the prospect of more Cup-GrandAm double-headers – such as at Daytona in July – appeared possible. The GrandAm series already runs with the NASCAR Nationwide tour at Montreal in late summer and with the Cup cars at Watkins Glen in early August.
   Indianapolis spent millions of dollars on that F1 course, but since the F1 contract ran out, that course has only been used for a motorcycle event. So when NASCAR sent a number of GrandAm cars up to Indianapolis for an early September test, obviously the question was about a possible GrandAm race there.
   Why it didn't come off isn't clear. But then the management shakeup at Indianapolis – with veteran Tony George booted out of the top spot by his own sisters and mother – has left much of that part of the motorsports world in question. And there has been considerable speculation since June, just after that shakeup, that the France family itself might make a bid to buy the Speedway, which is privately owned by the Hulman George family.
  

  So explain to me once again just why NASCAR was testing its GrandAm cars at Indianapolis Motor Speedway in September....(Photo: IMS)

  

  
Just how much it might cost to buy Indy, if it were even for sale? Some peg it at $620 million. That, though, is a very steep price, particularly with the Indy-car touring series itself not particularly strong.
   For some comparison: It cost $250 million to build Texas Motor Speedway. Bruton Smith just bought New Hampshire Motor Speedway and its two Cup tour dates for $340 million.
   Just what the Hulman George family might be thinking is not clear.
   However the Speedway has been subsidizing the Indy Racing League, and those subsidies have been abruptly cut off, leaving the IRL's fate up in the air (particularly in light of the relatively weak TV package). The Indy 500 itself is no longer the premier event it once was. The 2005 F1 race at Indy was a farce. And the 2008 Brickyard 400 at the Speedway was embarrassing.
   On top of all that, NASCAR's ticket sales this season aren't all that hot, and the prospects for 2010 ticket sales are uncertain. Plus NASCAR's TV numbers are still dropping, and sponsors are leaving the sport.
   So what does all that mean for Indianapolis Motor Speedway?
   First off, is the Speedway going to hire a top promoter to market the place? Humpy Wheeler has made several trips there, but it's unclear how interested he might be in running that track (though going head-to-head against his former boss Bruton Smith on Memorial Day weekend might make for a very interesting challenge).
   Should the Speedway simply keep on doing the same old stuff and wait for better economic conditions before making any moves?
  
  

  Joie Chitwood, Indy president and chief operating officer for more than a decade....until leaving this past August to join the France family's International Speedway Corp. (Photo: IMS)
  

   Plus, Joie Chitwood, who ran the Speedway for Tony George and the family for 14 years before leaving two months ago to join the France family's International Speedway Corp., is no longer in Indianapolis, but down in Daytona.
   So the two key players at the Speedway for so many years are no longer there.
   Certainly there are probably good financial people running things.
   But running a speedway, especially The Speedway, is not like running just any other business.
   The France family was partner with the Speedway in the Chicagoland Speedway venture a few years ago before the Frances' ISC bought out for sole ownership. And Chitwood was key in getting that speedway up and running.
   Maybe the France family – Lesa and Jim – should make a pitch to buy IMS….Maybe the family is...
   After all, running big speedways is what the France family is known for. The Frances bought out Roger Penske's speedways a few years back.
   But until the car business picks back up, rival promoter Bruton Smith might not be able to jump into the fray, much as he might like.
   Indianapolis Motor Speedway…for so many, many years the icon of motorsports in the U.S., and around the world.
   But now surrounded by questions.
   What next?

  

  
  The legendary Indianapolis 500 (Photo: IMS)