Filed under: IRL

Less than two weeks after resigning from the board of directors from the family-owned Indianapolis Motor Speedway, Tony George has had to shut down his Vision Racing Indy car team because of a lack of sponsorship.

George held an emotional meeting with the team's staff of about 16 employees Thursday before laying off many of them, the Indianapolis Star reported.

"We're suspending operations, but I don't know fully what that means," driver Ed Carpenter told the Star. "We're still pursing opportunities to resume operations."

George started the team in 2005 as he was building the Indy Racing League, which he founded. He co-owns Vision Racing with his wife, Laura, and actor Patrick Dempsey. Carpenter has been the primary driver and had a career-best finish for himself and the team when he finished second last year at Kentucky Speedway.

The shutdown leaves George's future in big-time racing in doubt, now that the former speedway chief executive officer no longer has any role whatsoever at IMS, which was bought by his late grandfather, Tony Hulman, in 1945 for a reported $750,000.

 

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