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Penske Racing and Tim Cindric

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  • Penske Racing and Tim Cindric

    Now that Roger owns IMS and the NTT Racing Series, when does he divest in Penske Racing and Tim Cindric take over as owner operator? Tim taking over has been the contigent plan for a while. I suspect that the time table for that occuring just sped up...What say the community?

  • #2
    Why would Roger be in a hurry? Roger does business with everyone in US racing.

    As noted, Roger's stake in Penske Racing is shrinking. His mental investment in the Indycar series and IMS now is a billion dollars, even if he didn't write that big a check. He has every incentive to act on behalf of his billion-dollar investment, not a much smaller operation that he's divesting anyway.
    Racing ain't much, but workin's nothing. Richard Tharp

    Lying was a no-brainer for me. Robin Miller

    "I thought they booed [Danica] because she was being a complete jerk, but then they applauded for A.J. Foyt. Now I'm just confused."

    The real world sucks. Ed McCullough

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    • #3
      Originally posted by Straightup82 View Post
      Now that Roger owns IMS and the NTT Racing Series, when does he divest in Penske Racing and Tim Cindric take over as owner operator? Tim taking over has been the contigent plan for a while. I suspect that the time table for that occuring just sped up.
      I doubt the timetable has changed one bit.

      "I would really like to go to NASCAR. I really enjoy NASCAR and if I could be there in a couple of years that's where I'd want to be." - Jeff Gordon (after testing a Formula Super Vee)

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      • #4
        Originally posted by atrackforumfan View Post
        His mental investment in the Indycar series and IMS now is a billion dollars, even if he didn't write that big a check. He has every incentive to act on behalf of his billion-dollar investment...
        Where are you getting this billion dollar (mental, or otherwise) from?



        "I would really like to go to NASCAR. I really enjoy NASCAR and if I could be there in a couple of years that's where I'd want to be." - Jeff Gordon (after testing a Formula Super Vee)

        Comment


        • #5
          RP is still the master of putting the sponsorship deals together, which in many cases is tied to the Penske businesses being under the same umbrella for B2B opportunities. And being that it's Roger's team, he will still derive satisfaction from its success, regardless of his decreased level of involvement. What benefit is there to Roger or the race team for him to sell his stake in it?

          It's not as if the owner of the series or the track have never had cars of their own compete. Just look at Vision/ECR. Heck, one of the IMS entries won the 500 way back when.

          Comment


          • #6
            Originally posted by Spike View Post
            Where are you getting this billion dollar (mental, or otherwise) from?


            Just a guess.

            whatever he paid, Roger thinks IMS and the Indy 500 are worth more than that. IMS is so important to his history and legacy that he may actually overvalue ita potential in his mind. He's a good businessman but not a literal machine. He's probably wanted to own IMS since he first entered a car in the 500--it wasn't long after that he bought a race track.

            My *guess* is that he paid between $250 and $500 million based on average track values in the ISC deal. He would have willingly paid 2 or 3 times tbe average value of an ISC track to own IMS and he'd hope that the actual value would go up substantially and relatively easily as a well run Penske property.

            It's a turnaround project that mostly requires good decisions and good partnerships more than capital--the Penske touch. He'd want to double or triple his investment on a turnaround project.

            Voila. A billion bucks at the end of the rainbow.

            But I could be wrong. Maybe he bought it for peanuts as a favor to the Hulman George family and expects it to inevitably go down in value. I'm not in a position to know the facts of the transaction or Roger's personal expectations either way.
            Last edited by atrackforumfan; 11-10-2019, 09:15 PM.
            Racing ain't much, but workin's nothing. Richard Tharp

            Lying was a no-brainer for me. Robin Miller

            "I thought they booed [Danica] because she was being a complete jerk, but then they applauded for A.J. Foyt. Now I'm just confused."

            The real world sucks. Ed McCullough

            Comment


            • #7
              The Captain personally picked Tim 10+ years ago to be his heir apparent. RP has trained Tim for over a decade of what he wants, expects to be be done. I don't think RP would ave done that without knowing TC would follow his orders to the Nth degree. And remember this was the guy that , taunteded RP during his darkest hour (in 1995, when Penske failed to qualify at the Indy 500 by getting the IMS Garage paging system to make a page that requested "Dr. Kevorkian (the infamous Michigan Suicide doctor) be requested to appear at the Penske garages!) after the Penske cars failed to qualify for the 1995 Indy 500!

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              • #8
                Originally posted by atrackforumfan View Post

                Just a guess.

                whatever he paid, Roger thinks IMS and the Indy 500 are worth more than that. IMS is so important to his history and legacy that he may actually overvalue ita potential in his mind. He's a good businessman but not a literal machine. He's probably wanted to own IMS since he first entered a car in the 500--it wasn't long after that he bought a race track.

                My *guess* is that he paid between $250 and $500 million based on average track values in the ISC deal. He would have willingly paid 2 or 3 times tbe average value of an ISC track to own IMS and he'd hope that the actual value would go up substantially and relatively easily as a well run Penske property.

                It's a turnaround project that mostly requires good decisions and good partnerships more than capital--the Penske touch. He'd want to double or triple his investment on a turnaround project.

                Voila. A billion bucks at the end of the rainbow.

                But I could be wrong. Maybe he bought it for peanuts as a favor to the Hulman George family and expects it to inevitably go down in value. I'm not in a position to know the facts of the transaction or Roger's personal expectations either way.

                Could be wrong? Your post is manufactured nonsense.

                Comment


                • #9
                  Originally posted by rrrr View Post


                  Could be wrong? Your post is manufactured nonsense.
                  Someone asked me to explain my opinion. I did. If you're unhappy that I explained it or because you think that the explanation doesn't live up to the standards of The Wall Street Journal, you're missing the point of message boards.

                  <note to self: insert pedantic grammar correction as passive aggressive personal insult here>
                  Racing ain't much, but workin's nothing. Richard Tharp

                  Lying was a no-brainer for me. Robin Miller

                  "I thought they booed [Danica] because she was being a complete jerk, but then they applauded for A.J. Foyt. Now I'm just confused."

                  The real world sucks. Ed McCullough

                  Comment


                  • #10
                    Originally posted by Straightup82 View Post
                    Now that Roger owns IMS and the NTT Racing Series, when does he divest in Penske Racing and Tim Cindric take over as owner operator? Tim taking over has been the contigent plan for a while. I suspect that the time table for that occuring just sped up...What say the community?
                    Zero need to do so. Tony George owned vision and ecr throughout the course of the IRL/Indycar. This is nothing more than the ongoing hate of Penske. If you are going to call for his divestiture from Penske racing, which won’t happen simply becuse he has far more than just the Indycar team at PR, he also by that logic divest in Ilmor which also won’t happen. The series is largely alive because of RP as it is and Tony knew it. He said he is stepping down from the box at races and that’s all you’ll see. Tim already runs Penske Racing.

                    Comment


                    • #11
                      Originally posted by rrrr View Post


                      Could be wrong? Your post is manufactured nonsense.
                      This is the place for it!
                      "Factually Unfounded Opinion" Rep. Elijah Cummings
                      "Loyalty to petrified opinions never yet broke a chain or freed a human soul in this world — and never will." Mark Twain

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                      • #12
                        Originally posted by rrrr View Post
                        Could be wrong? Your post is manufactured nonsense.
                        Agreed.

                        "I would really like to go to NASCAR. I really enjoy NASCAR and if I could be there in a couple of years that's where I'd want to be." - Jeff Gordon (after testing a Formula Super Vee)

                        Comment


                        • #13
                          Originally posted by atrackforumfan View Post

                          Someone asked me to explain my opinion.
                          No one asked for an explanation of your opinion. I asked where you were getting the billion dollar number you were tossing around. Now we know you just pulled it out of some special place.

                          "I would really like to go to NASCAR. I really enjoy NASCAR and if I could be there in a couple of years that's where I'd want to be." - Jeff Gordon (after testing a Formula Super Vee)

                          Comment

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