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Article: Speedway's windfall leads to speculation
- Article from:
- Indianapolis Business Journal
- Article date:
- November 13, 2006
- Author:
CopyrightCopyright IBJ Corporation Nov 13, 2006. Provided by ProQuest LLC. (Hide copyright information)
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The Indianapolis Motor Speedway's announcement this month that it would sell its stake in Chicagoland Speedway for $69 million has racing industry experts wondering if the famed Brickyard is planning an expansion.
"There are a number of things [IMS President] Tony George could use that money for," said Dennis McAlpine, a New York-based financial analyst covering motorsports and entertainment. "That's not to say he's hurting for cash, but I believe he has projects on his plate."
IMS and Daytona Beach, Fla.-based International Speedway Corp. each owned 37.5 percent of the Chicagoland Speedway, with a group of local landowners owning the remaining 25 percent. Now that ISC owns 75 percent, it ...