Indy GP revival prospects dwindle

The prospect of Indianapolis returning to stage a United States Grand Prix in future dwindled yet further this week.

Tony George, CEO of the famous Indianapolis Motor Speedway that hosted the Formula One race between 2000 and 2007, is on the verge of being ousted, American media reports claim.

George is credited with bringing F1 back to the US on a novel road course inside the fabled Indy 500 oval, and until recently was keen on penning a new race promotion deal with Bernie Ecclestone.

Contrary to reports, the 49-year-old survived a board meeting on Tuesday, but in a media statement it was pointed out that the venue's interests in the Indy Racing League series "deserves the most attention at this point".

Some commentators had questioned the company's finances amid the global recession and George's investments in other areas, including the road course, press tower and other facilities that were built for F1.