MADISON MAYOR BOB COURTNEY TAKES ACTION TO PROTECT MISS MADISON INC.

Follows concerns regarding the sale of assets and financial and contractual claims impacting Miss Madison Inc.

Madison, Indiana (February 10, 2025) – Madison's Mayor, Bob Courtney, has taken decisive action to safeguard the assets and legacy of Miss Madison Racing Unlimited Hydroplane, the most storied and longest-running community-owned hydroplane racing team in the world. This action, which includes removing five board members, follows concerns regarding the sale of assets and financial and contractual claims impacting Miss Madison Inc. (MMI).

The storied racing team began with a gift of the “Nitrogen Too” hydroplane to the City of Madison by Samuel and Joanne DuPont in 1963. In 1970, Miss Madison Inc. (MMI) was formed to promote the city through hydroplane racing, with board members appointed by the mayor. Racing under the Miss Madison name and its sponsors' banner using leased city assets, the team became a vital part of Madison’s history and identity. Over the decades, Miss Madison won 12 national championships and competed continuously from the early 1960s until 2024.

In mid-November 2024, the City of Madison became aware that an agreement was approved by its Chairman Charles Grooms and current MMI board to sell its two hydroplane hulls and related equipment to a buyer in Washington state, bringing an end to the era of Miss Madison. The agreement included property belonging to the City of Madison. In response, Mayor Courtney has restructured the MMI board to ensure transparency and accountability in all financial and legal matters going forward and unfortunately finds it necessary to remove the five board members. 

In addition, concerns have arisen regarding significant claims on MMI's assets, including the largest current claim tied to board member Charlie Grooms. Given that there is no record of the appointment of current board members by any sitting mayor other than Grooms, and no boat left to manage, in addition to the conflicts of interest with Grooms, Mayor Courtney has removed all members not appointed by his administration in an effort to restore proper governance of the corporate entity.

"The fiduciary responsibility of this board is to seek legal and financial advice regarding all claims and contracts regarding Miss Madison Inc.," said Mayor Courtney. "We must act in the best interest of the City of Madison and protect the legacy of Miss Madison, ensuring that any financial claims or obligations are thoroughly examined. I had hoped that resolution over the disposition of Miss Madison’s assets and outstanding contractual obligations and claims could be worked through with the current board but unfortunately that is not the case."

Moving forward, the newly appointed board will work diligently to resolve outstanding financial matters, restore proper governance to MMI, and preserve its racing legacy for the City of Madison.