AGR split

[SarahFan]

It's bring reported that agr willbe slitting up

With mikey taking the race team... And green and savoree taking agr promotions and agr Toronto

*sorry no link....I'm posting from my phone... But it's out there...

[Chris R]

seem like a reasonable plan as per the story on autoracing1 - now we'll see how much of the team was Andretti and how much was Green/Savoree

[TURN3]

Don't mean to brag but I've called this for over a year now. Largely based on observation of ego, declining results in favor of pay drivers (Danica & Hideki), and Daddy's little boy (Marco). I think when Dario only took a 1 year deal when Herta left, and then bolted after it was obvious the team would favor Marco it was the final sign for me. There have been obvious public musings but reading the body language and such....this was a no brainer for me long ago.

Questions now becomes...does Green and Savoree start a team? How many cars does Mikey field? Given the sightings and mild reorts that PT has been talking with Savoree...I sincerely doubt you can write off Savoree and Green starting a team. And frankly, for their business interests in Toronto, is there a better driver to employ for the next 2 years while they build? Personally, I hope PT ends up at KV but just thinking aloud.

[MDS]

Per AGR website:


Andretti Green Racing Shareholders
Sign Letter of Intent to Split Off Promotions Business

The shareholders of Andretti Green Racing, Inc., Michael Andretti, Kim Green and Kevin Savoree, announced that they have executed a letter of intent to split off Andretti Green Promotions and Andretti Green Toronto into a separate company from Andretti Green Racing.

The letter of intent is subject to the execution of definitive agreements with an anticipated closing of October 2009. The terms of the letter will not be disclosed.

Upon the completion of the transaction, Andretti will wholly own and operate Andretti Green Racing while Green and Savoree will wholly own and operate the promotions business.

Andretti Green Racing began competing in the Indy Racing League in 2003 and currently fields four fulltime teams in the IndyCar Series and two teams with AFS Racing in Firestone Indy Lights. Andretti Green Racing also campaigns A1 Team USA in the A1GP World Cup of Motorsport.

Andretti Green Promotions was formed in 2004, and owns and operates the Honda Grand Prix of St. Petersburg, which served as the 2009 IndyCar Series season-opening event.

Andretti Green Toronto owns and operates the Honda Indy Toronto IndyCar Series event which premiered this past July.



Joint Statement from Shareholders
Michael Andretti, Kim Green and Kevin Savoree:
“Since becoming partners in 2002, we have been fortunate to see our companies expand and diversify quickly and successfully. All of us believe that this decision will maximize the potential of both companies in the future.”

[jackmart]

im lost. to me it doesn't sounds like they are splitting up, still keeping the agr name, now just green and the other person will only handle the promotions and Michael will handle the racing

[SarahFan]

im lost. to me it doesn't sounds like they are splitting up, still keeping the agr name, now just green and the other person will only handle the promotions and Michael will handle the racing


re-read it....and focus on the wholly owned part(s)

[garyshell]

im lost. to me it doesn't sounds like they are splitting up, still keeping the agr name, now just green and the other person will only handle the promotions and Michael will handle the racing


Only phase one. Look for name changes to follow on soon once these transactions are complete.

Gary

[jwhite9185]

I saw on the indy star website that the team would be called something different.

[MDS]

More from Cavin:


Andretti Green Promotions organizes and promotes IndyCar Series races in St. Petersburg, Fla., and Toronto, and is looking for more, preferably an event in the fall.Andretti plans to maintain a four-car IndyCar Series team and said he expects to retain popular star Danica Patrick.
"Getting close," he said of negotiations. "We've been back and forth a lot, but they want it and we want it. We're just going through the particulars right now. I'm happy with the way things are going."So if Danica, Marco and TK all come back my bet is Montangy gets the nod over Hildabrand to replace Hedki when the Honda funding moves to de Ferran.

On a side note I wouldn't be surprised if Boost comes backs a primary. They have been doing a lot of activation with the sponsorship. I just drove past a new Boost store and they had a fathead of Danica in the window.

[drewdawg727]

Is Mutoh only racing because of the sponsorship? I hope he gets picked up by another team.

[Chamoo]

There were rumors that Barry Green was coming back to help his brother run an Indycar team.

If Kim Green and Kevin Savoree (and maybe even Barry Green) started their own team and Andretti runs atleast 3 cars (he says he plans on 4), this would be the best case scenario available for the ICS.

[TURN3]

Is Mutoh only racing because of the sponsorship? I hope he gets picked up by another team.

3 of the 4 drivers on that team are only driving because of sponsorship. Well, Andretti is driving because it is daddy's team so I guess 2 of 4.


There were rumors that Barry Green was coming back to help his brother run an Indycar team.

If Kim Green and Kevin Savoree (and maybe even Barry Green) started their own team and Andretti runs atleast 3 cars (he says he plans on 4), this would be the best case scenario available for the ICS.

You're right on, good for Indycar. I'm on total PT watch, have been for 2 years I guess. This smells really really good. PT had a great relationship with the Greens, they need him in Toronto, they need an experienced driver to run. Rumors of PT talking with Savoree have been floating around...no way PT doesn't get a ride next year in my opinion but I still reamin hopeful it is with KV. I think they have some good chemistry going on there.

[garyshell]

You're right on, good for Indycar. I'm on total PT watch, have been for 2 years I guess. This smells really really good. PT had a great relationship with the Greens, they need him in Toronto, they need an experienced driver to run. Rumors of PT talking with Savoree have been floating around...no way PT doesn't get a ride next year in my opinion but I still reamin hopeful it is with KV. I think they have some good chemistry going on there.


I think you are right about the chemistry there. When I was in the paddock at MidOhio to show Paul the old press kit, I was sorta reluctant to ask Jimmy if Paul was around, because of the "bad blood" from the prior race. But I did ask anyway and when Jimmy found what I had his enthusiasm was obvious calling other members of the team over to look. He said something along the lines of "You wanna see what our cowboy used to look like?" Or words to that effect. It was obvious there was no bad blood. Just the total opposite.

Gary

[Mark in Oshawa]

PT has annoyed a few people but the guy's charisma and natural ability keep people from not liking him...


As for this Andretti Green split, I never saw the Green's as Andretti's sort of guys and vice versa. The Greens I know LOVE Paul so maybe if KV doesn't pony up, the Green's in Toronto as promtors may drive them back into team ownership...