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George acquires assets of Kelley Racing

2/14/2005

AVONDALE, Ariz. -- Indy Racing League founder Tony George
has acquired the assets of Kelley Racing and will operate a team in
this year's IndyCar Series.

In a surprise announcement during the IRL's annual Test in the
West at Phoenix International Raceway on Wednesday, George said he
would continue as chief executive officer of the IRL, the
open-wheel series he founded in 1996.

"It's not that uncommon in today's environment in
motorsports," George said. "Any instance you can think of,
there's someone who has a leadership role or an ownership role in a
series who helps support it, even to the extent of fielding a team,
or driving.

It's something I haven't done up to this point, but Kelley's
decision to get out created a great opportunity for someone."

George promised his ownership would not influence decisions and
rulings by race officials.

"Obviously, this group up here has to do everything to make
sure we're above reproach," he said.

George said it had been just three weeks since he began
considering the move to start the team he named Vision Racing LLC.
He spoke with three other owners, getting what he acknowledged as
mixed reactions, and closed on the purchase of Tom Kelley's cars
and equipment Jan. 31.

He promised the team would be ready to race in the IRL opener
March 6 at Homestead, Fla.

Larry Curry, a 25-year veteran of open-wheel racing, is Vision
Racing's new manager.

Ed Carpenter, 23, George's stepson, will drive the IndyCar
entry, and 2004 USAC Sprint Car champion Jay Drake will drive for
Vision in the Menards Infiniti Pro Series.

Carpenter finished 16th in last year's IndyCar driver standings
for Red Bull Cheever Racing.

George said the desire to give opportunities to promising young
drivers influenced his decision. As the league's CEO, he also was
anxious to keep as many teams as possible in the league after
losing Mexican driver Adrian Fernandez's financially strapped team
in January.

The league also is in transition after adding road races in St.
Petersburg, Fla., Sonoma, Calif., and Watkins Glen, N.Y., to its
17-race calendar.

George originally broke from CART because he wanted an oval-only
series.

"As the offseason wound down, it became obvious that we needed a car count," George said. "We're going to need to keep all that
equipment that Tom had for sale in the system. There were a lot of
teams that were looking at acquiring bits and pieces of it, but I
felt that the best opportunity was to try and keep it together."

Vision has no corporate sponsorships yet.

Curry, who is credited with bringing 1997 IRL champion and
current NASCAR star Tony Stewart into the then-fledgling league,
has hired a few team members, but estimated that 70 percent of the
vacancies remained to be filled. A one-car IRL team usually has 20
or more members.

"We want to get people in key positions, and then have them in
the process of the rest of the hirings," Curry said. "To build
the thing successfully, everybody has to believe in one another and
what their abilities are."