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this could be very interesting for the IRL.....Autoweek is reporting that some one.... Grypon...has bought 5.8% of CART stock in the last couple of months 812,000 shares @ 0.42 which cost approx $350,000 , if 16% of the the shares holders reject the buyout we could only have one open wheel series in North America.. would we see more IRL entries in 2004...
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Last edited by dirtshoe99; 11-09-2003, 10:43 AM. -
Re: Is Tony G the mystery buyer of CART....
We sure would have one open wheel series. The wrong one but there would be one and with TG's guidance and leadership in a few years there will be none.Originally posted by Indianapolis500
this could be very interesting for the IRL.....Autoweek is reporting that some one.... Grypon...has bought 5.8% of CART stock in the last couple of months 812,000 shares @ 0.42 which cost approx $350,000 , if 16% of the the shares holders reject the buyout we could only have one open wheel series in North America.. would we see more IRL entries in 2004...If you were hiring a CEO for IMS in 1990 would you have hired Tony George?Comment
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Re: Is Tony G the mystery buyer of CART....
I would seriously doubt that Tony would follow such a convoluted strategy, not when CART is selling for such a low price. If he wanted to buy CART, he would have submitted a bid for 60 cents and done it.Originally posted by Indianapolis500
this could be very interesting for the IRL.....Autoweek is reporting that some one.... Grypon...has bought 5.8% of CART stock in the last couple of months 812,000 shares @ 0.42 which cost approx $350,000 , if 16% of the the shares holders reject the buyout we could only have one open wheel series in North America.. would we see more IRL entries in 2004...Comment
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Are you suggesting we should trade this for the leadership and sound decision making displayed by the CART series in the past 5 years?and with TG's guidance and leadership in a few years there will be none.
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Well, I've always heard it said that going racing was the way to make a small fortune -- out of a big one.
But I always thought they meant as a car owner, not as someone buying stock....
I'm from a place called the internet. Nothing disturbs me.Comment
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I don't think TG would want to go to the trouble of buying into a mess. He doesn't need CART's problems."The lunatic fringes on both sides need to be written off." -- stnky peteComment
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He doesn't need to buy into the mess. If the majority (?) of the non OWR owners vote against the buy-out, the buy-out is scrubbed.Originally posted by indycool
I don't think TG would want to go to the trouble of buying into a mess. He doesn't need CART's problems.
$350K to kill CART is a cheap price.Comment
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That's assuming that he wouldn't get sued after Cart went under.Originally posted by jjjanos
He doesn't need to buy into the mess. If the majority (?) of the non OWR owners vote against the buy-out, the buy-out is scrubbed.
$350K to kill CART is a cheap price.look out there; it's there, in the distance. It's the Indy 500 Nextel Cup race.Comment
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Not quite correct. A majority of the non-OWRS shareholders must vote for the buyout for it to be sold to OWRS. Any non-voting shares are votes against the buyout. A combo of "no" votes and non-votes will scrub the buyout.Originally posted by jjjanos
He doesn't need to buy into the mess. If the majority (?) of the non OWRS owners vote against the buy-out, the buy-out is scrubbed.Last edited by vegasduo; 11-10-2003, 11:32 AM.Comment
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Re: Re: Is Tony G the mystery buyer of CART....
That's about as rich as a CART fan dissing IndyCar TV ratings.Originally posted by jimbo
We sure would have one open wheel series. The wrong one but there would be one and with TG's guidance and leadership in a few years there will be none.
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There would be no basis for such a suit.Originally posted by jimmyc
That's assuming that he wouldn't get sued after Cart went under.Comment
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Whoopise, my bad. Forgot about that little rub.Originally posted by vegasduo
Not quite correct. A majority of the non-OWRS shareholders must vote for the buyout for it to be sold to OWRS. Any non-voting shares are votes against the buyout. A combo of "no" votes and non-votes will scrub the buyout.Comment
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Are you sure? Lawsuits can be filed on the flimsiest of arguements. I'd bet that Tony's lawyers would tell him; don't do it, if there was the slightest chance of things ending up in court. More important is the public relations issue. The Cart-haters might not understand but most in business and the media never wanted the split. If Tony were to sabotage Cart rather then extend on olive branch, it would simply confirm the view that Tony was responsible, turning the media against him and driving away sponsors. It could, in the long run, be the final nail in the Irl's coffin. But then I don't think that Tony would be so stupid as to try to interfere with Cart's buyout.Originally posted by jjjanos
There would be no basis for such a suit.look out there; it's there, in the distance. It's the Indy 500 Nextel Cup race.Comment
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OK anyone can file a suit. That doesn't mean it will last beyond the first hearing.Originally posted by jimmyc
Are you sure? Lawsuits can be filed on the flimsiest of arguements.
When OWR pushes-up daisies during/at the end of the 2004 season, TG going to get blamed anyway. The only action he could take that would impact the media's perception of the split would be to pull a Microsoft and invest in Apple.
How many racing series have been bought out by participants when the sanctioning body was going to pull the plug?
How many of these survived?Comment
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