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Penske Silent Partner?

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  • Penske Silent Partner?

    I wondered about this.... Looks like maybe I was right.





    SpeedFreaks
    @SpeedFreaks
    2h

    Actual quote was more along the lines of 'I believe that the silent partner in this whole thing was John Menard...'
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    SpeedFreaks
    @SpeedFreaks
    3h

    "The silent partner in this whole thing is John Menard. For a guy worth $11 Billion any investment is a drop in the bucket. He's sponsored RP cars for a few years now." - Robin Miler
    I'm from a place called the internet. Nothing disturbs me.

  • #2
    Penske is a billionaire, so why would he need a partner? Additionally, if Menard was in on this, why would he want to remain silent?

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    • #3
      Originally posted by BADGER View Post
      Penske is a billionaire, so why would he need a partner? Additionally, if Menard was in on this, why would he want to remain silent?
      I was wondering the same thing...from what I've heard about him, it would be very much out of character.
      Tibi Fumus Obsidio Septum Doro

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      • #4
        In the case of Penske, being a billionaire is not necessarily the same as having a quarter billion in cash ready to go, particularly on short notice. Maybe he needed some help. As to why Menard would remain silent, perhaps it was just a loan and his name isn't on the title except as lender. The business side of IMS/ICS may look to risky for a bank to make a major loan.

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        • #5
          I'm willing to go along with RM just likes to have people think he knows what's going on whether he does or not, this has people paying attention to him during the long off season when he doesn't have much going on.

          John Menard is no spring chicken so while there's no financial burden for him to be a silent partner or loan cosigner he isn't in it for the long haul.

          Recall that he was a partner in ONE of the initial attempts 20+ years ago to build a Chicago area speedway. He was with Bill France jr and Tony George to build the track in Plano IL with him building a Menard's distribution warehouse on the site. He could have paid for the construction 20 years ago with what I've spent at his stores and he didn't sign on with France and George when they eventually built Chicagoland Speedway 30 miles away. So if he was so interested in being a partner in a track, he's had an awfully long time between showing interest.

          "You can't arrest those guys, they're folk heroes"
          "They're criminals"
          "Well most folk heroes started out as criminals"

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          • #6
            Looking at this a different way.... Apparently Tony/the family was happy to sell the place to Penske because of his connection to the sport. Would Menard have gotten the same deal? What if Penske is essentially a front for a Menard purchase? And as to Menard's age - remember that Paul just retired from driving. Maybe he doesn't want to run a home improvement business.
            I'm from a place called the internet. Nothing disturbs me.

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            • #7
              Slow news in the off season isn't it?

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              • #8
                Roger is just a front for Enron.

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                • #9
                  Highly doubtful. RP needs no financial assistance and JM couldn’t keep it silent.

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                  • #10
                    I agree that RP probably has no silent partner. Roger seems like the kind of guy who would want to own IMS/IndyCar lock stock and barrel.

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                    • #11
                      If it is true, maybe the two of them went in on it to basically save it from some outside big corporation or whatever.

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                      • #12
                        Originally posted by RS2 View Post
                        If it is true, maybe the two of them went in on it to basically save it from some outside big corporation or whatever.
                        The two of them are some big corporations.

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                        • #13
                          I meant outside of the Sport.

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                          • #14
                            Roger isn't fronting anything for anyone. That's not the way he operates nor how he has built his reputation or wealth. With that said, big business dealings all teh time have interesting financial arrangements both for access to capital as well as to spread risk. Roger didn't purchase the assets to largely allow them to evolve, but to invest at levels he beleives will return 2x-3x not 20-30% ROI. I wouldn't be suprised if somone like John Menard is associated with this on some level. John loves racing, former car owner, Paul is now retired and he's left with sponsoring cars. Not bad, just not the level of involved of a JM.

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                            • #15
                              Makes a lot of sense to me. It's a way to manage risks by sharing it with Menard. Menard will also share in the rewards and keep his toe in the water for a sport he loves. He should be silent as Penske is a much better face to enterprise that shouldn't be diluted. These rich guys are always scratching each other's backs.

                              I see more reasons to believe it than not.

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