Mark Miles, President and CEO of Hulman and Company, the parent company to the Verizon IndyCar Series and the Indianapolis Motor Speedway has rubbished rumors that the Speedway is for sale and is to be sold to the state of Indiana.
Miles was responding to a recent rumor that the circuit was for sale but told racer.com he has no idea where the rumor came from and that it is completely false.
Miles has also confirmed that his number one priority for the 2019 IndyCar Series season is to find a new title sponsor for the series as Verizon will end the title sponsorship agreement at the end of the 2018 season. Miles said that he and his team are looking for a sponsor who will help to grow the sport.
When it comes to the Indianapolis Motor Speedway, the venue generates an incredible amount of revenue through the Grand Prix of Indianapolis and the Indianapolis 500 which goes a long way to helping to fund the teams in terms of the prize money that is available to the teams.