Spitting Nails in IndyCar

This is the Statt Mann Baby. Time to Scatt a little bit.

Roger PenskeSo Roger Penske bought everything IndyCar. The announcement came this week proving it is possible to keep a secret in modern media.

But we’re told the actual deal doesn’t become official until January.

The largest headline, though, might be what wasn’t announced: the money. The Speedway and Penske are both private companies so they’re not obligated to say anything.

Roger said he hasn’t paid any money yet and he spent much of the week looking over his purchase.

A respected piece of media this week valued that purchase at anywhere from 300 to 350 million dollars.

If a top ten race at a top ten venue in a top ten series is only worth a .275 hitter in baseball, motor racing is more niche activity than anyone wants to believe.

Here’s the point. Imagine if your house was valued at $500 million and your neighbors dumped their house in a distress sale at $250 million; you’d be spitting nails. In short, any stakeholder in the racing industry should be spitting nails tonight.

The biggest question is why Tony George dumped his house on the market now. Yes, Virginia, secrets are possible in modern media.

Peace.

November 10, 2019

Leave a Comment