IMS Sale?

[Andrew Longman]

Thread over at TF quoting Yates in the latest C&D that IMS is up for sale.

No links and no real information in the TF thread and it is Yates, so I don't give it much creedence, but...

The only plausible explanation for this I can think of this is part of an estate planning issue and that only makes sense if the Hulman girls are getting on in years. How old are they? If so, the inheritance tax could be crippling given what the Speedway must be assessed at.

That's what caused O'Malley to sell the Dodgers. His family couldn't afford the tax. Its why the Mara family and Steinbrenner sold off parts of the Giants and Yankees respectively.

Conjecture please? :)

[Cam]

He got his wires crossed...... It's Mindy from Hoosier hotties that is for sale.... :D

[mueber]

It's Brock Yates fer chrissakes. No doubt, like everything else Yates writes, the article is too long and ulitimately about him. Just dismiss it.

[Andrew Longman]

It's Brock Yates fer chrissakes. No doubt, like everything else Yates writes, the article is too long and ulitimately about him. Just dismiss it.

True enough.

But I don't follow the history of the Lords of the Sagamore or whatever they were called. humor me for a second. Mari was born in 1934 and is chairman of both the speedway and the Hulman Company. That means she is both very rich and 72 years old.

Tony and his three sisters and however many kids his dad elmer had from his first marriage stand in line to split that wealth. If they have not done very careful estate planning over many, many years, and maybe even if they did, they could find the need to sell off some assets in order to pay the tax on the rest.

Typically you would do this before the elder dies and you have to sell it in a rush at depressed prices.

These folks and their advisors have not proven to be the sharpest Hoosiers in Whoville so they might just be finding themselves in a sticky situation. If true, how much would it pain the gomers to realize that while TG was managing OW racing into the dirt the entire family was mismanaging the inheritance out of their control.

If its true of course. ;)

[Rocketdoc]

Yates burned his brains out many, many years ago.

Take it with a ton of salt.

[NismoZ]

Rumor says "No" now.

[Skater_36]

True enough.

But I don't follow the history of the Lords of the Sagamore or whatever they were called. humor me for a second. Mari was born in 1934 and is chairman of both the speedway and the Hulman Company. That means she is both very rich and 72 years old.

Tony and his three sisters and however many kids his dad elmer had from his first marriage stand in line to split that wealth. If they have not done very careful estate planning over many, many years, and maybe even if they did, they could find the need to sell off some assets in order to pay the tax on the rest.

Typically you would do this before the elder dies and you have to sell it in a rush at depressed prices.

These folks and their advisors have not proven to be the sharpest Hoosiers in Whoville so they might just be finding themselves in a sticky situation. If true, how much would it pain the gomers to realize that while TG was managing OW racing into the dirt the entire family was mismanaging the inheritance out of their control.

If its true of course. ;)

While I doubt that IMS is up for sale, your scenario has merit.

[oddlycalm]

From an Autosport article

reporters invited to a dinner with Vision Racing officials on Saturday night were asked not to question George about the topic, and IRL president Brian Barnhart played down the significance of George and Kalkhoven's liasons.... Vision officials cancelled the media dinner less than three hours before it was scheduled to begin, saying too many reporters had dropped out. :rofl:

[cart7]

From an Autosport article
:rofl:

:rofl: That is funny! :rofl: