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At least the H-G's have finally realized that their infighting has done nothing but fritter away a large portion of their fortune, and recently expanded the board to non-family members and hired a CEO for H&Co that will change things quickly...but they are in this position due to their own mismanagement of the product. Tony George's creation of the IRL permanently harmed open wheel racing in the US to the point that Indycar teams cannot find sponsors for drivers that were series champions in recent years. TV ratings are abysmal compared to the heyday of the sport during the CART era, and even though the series introduced a new car and engines last year, TV ratings dropped from 2011...leading several major sponsors to tell teams they'd have enough. IZOD's management has undergone a shift to a group that doesn't see any value in motorsport sponsorship and the series is searching for a new "title sponsor".
However, when it comes to Bruton Smith...well, he's never been bashful about asking for government help, then often puts a heap of blame on state and local agencies for failure to spend money to upgrade roadways adjacent his tracks. In many cases, the only reason access is insufficient is that he built the track but refused to fund the infrastructure upgrades to provide adequate access.
"IMS officials indicated that the Motorsports Investment District as proposed would not financially impact the local school funding formula because it would not be funded through property tax collections."
I'm a lifelong Indycar fan...but this smacks of IMS's ignorance of reality that's been evident from their mismanagement of the facility over the past generation. Any educated Indiana taxpayer knows that local school operating expense is funded based on that formula by the state ever since the passage of PL146 in 2008 and the subsequent increase in state sales tax to 7% in return for the cap on property taxes.
The prevailing attitude in "the Holy Land" is that "we've done it for the Colts and Pacers, why not IMS?" Well...the Colts and Pacers now charge a 10% admissions tax to assist in debt service...no such tax is imposed on IMS admissions. Believe it or not, the average race day attendee at the Indy 500 pays less for that ticket than does a fan who buys a single game Colts ticket. Clearly, if "The Greatest Spectacle in Racing", a once-per-year event, can't generate a higher average admission than any of the 10 Colts pre- and regular-season games, there is a problem with the product.
I reported someone for dealing coke on my floor of the res hall, he was charged but not immediately removed from the do--and then threatened to kill me several days later. Within a few minutes after I went to the university PD and swore out a complaint, his sorry behind was shagged out and taken to the county jail. That's what should have happened in this case.