Carmelo Anthony’s ownership stake in an Indy Racing League team, announced with great fanfare in March, has been quietly dissolved. Both the NBA star’s agent and the team’s principal owner, IRL veteran Ron Hemelgarn, acknowledge the short-lived deal is dead.
The team’s signature “Car Melo” entry last ran in the Indianapolis 500, when driver P.J. Chesson crashed with another Hemelgarn car on the second lap, eliminating both vehicles. The “Car Melo” has missed the four subsequent races and Hemelgarn has suspended his team’s IRL operations. “We’re parked,” Hemelgarn said. “The funding we needed didn’t come through.”
The problem: Anthony brought flash to this strapped team but not cash. He was never supposed to, according to Bill Sanders, who handles the player’s business affairs for BDA Sports. The idea was for him to create buzz and attract sponsors. “Carmelo would bring as much attention to the team as he could [for his ownership stake],” Sanders said. “Carmelo’s name has a lot of brand equity, and that’s what he had to offer.”
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another sad day in indy car racing history!!
another one bites the dust eh?