Report: Tony George has submitted offer to buy IndyCar Series

Open-Wheel RacingAuto RacingTony GeorgeIndyCar SeriesMichael Andretti

Former Indianapolis Motor Speedway and IndyCar CEO Tony George may be ready to make a play for the IndyCar Series.

According to a report in the SportsBusiness Journal, George is at the head of a group that submitted a financial offer to buy the series and Hulman & Co. The report cites sources familiar with the deal.

According to the report, the deal included a seven-figure cash proposal to manage the series and assume future losses. IndyCar lost $7 million last year, according to reports.

The SportsBusiness Journal report said George approached other IndyCar owners including Chip Ganassi, Roger Penske, Michael Andretti and Kevin Kalkhoven about investing in IndyCar. George also approached Zak Brown, a motorsports marketer, the report said.

Word of the proposed deal comes four years after the Indy Racing League and Champ Car merged, ending a split in open-wheel racing that lasted more than a decade. George helped hammer out that deal, but resigned a year later when the recession hit IndyCar, causing a financial strain.

Randy Bernard, former head of Professional Bull Riders, succeeded George.

Officials for IndyCar have repeatedly said that the series not for sale.

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