Pook critical of CART floatation
CART CEO Chris Pook has criticised the former management of the Champ Car World Series promoter for embarking on a stock market flotation, asserting that the change led to confused priorities for the company. Pook told SportBusiness International: "When management took the company public, they took their eye off the ball as far as their core business was concerned, and started worrying about share price options and all that stuff
"Floating the company was fundamentally an error. Had we not gone public then, I think the company today would be fine."
Pook added that he would consider taking the Indianapolis based company private in the future. He said: "If you're doing your job properly you have to look at all the options. You have to do what's best for your shareholders. It's out there. Nothing has been dismissed."
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