Road America doesn't want to work with OWRS

[Dov]

From AutoSport.com: http://www.autosport.com/newsitem.asp?id=25620&s=7

Sale progresses despite claim

Sales hearing date agreed for end of the month

The asset purchase agreement process for the Champ Car World Series took another twist this week when an attorney for California Speedway told a US Bankruptcy Court judge that he is also representing a group potentially interested in making a bid.

Mike Hile, the attorney representing California Speedway, later identified the group as 88 Corp, which is a subsidiary of US circuit giant International Speedway Corporation, but would not disclose his client's intentions. ISC is a publicly-traded concern that is controlled by the France family that runs NASCAR.

CART attorney James Carr referred to this news as a "red herring", and argued that "if the sale is not put in place, you'll not have a racing series here to preserve".

Judge Frank Otte agreed with the need to progress the sale, and overruled objections aimed at slowing the process of the buy-out. Judge Otte set January 28 as the date for the sales hearing, the next phase towards completion of the proposed deal by prospective new owners Gerald Forsythe, Paul Gentilozzi and Kevin Kalkhoven of Open Wheel Racing Series.

At that hearing, the Elkhart Lake and California Speedway venues can state their cases against CART. Elkhart Lake does not want its contract with CART to be transferred to the new owners , while California Speedway has a $2.5million claim against CART for the return of its sanctioning fee for the 2003 season finale, which was cancelled due to nearby forest fires.
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I wonder what the problem could be? Could TG, Toyota and Honda or all of them be talking ($$$) to Road America? Hmmmmmm....

[sgw2]

Dov,

Road America lost its shirt with CART last year. They are not a finacially rich track and simply cannot afford to take another bath. They simply want out for their own survival.

Every US Champcar race lost money for the promoter (four of which CART records as losses in its SEC filings; Mid-Ohio, Miami, Cleveland, and Portland) except Long Beach. I expect Laguna Seca to drop Champcar as well, as they were unable to pay CART some $400,000 of the sanctioning fee - an IOU OWRS is attempting to purchase as part of the asset acquisition.

No need for conspiracy theories.

[The Snout]

It may be in fact partly both your answers.

I agree with sgw2 that it doesn't make financial sense for a Champcar race right now and they perhaps want a break from it until it sees some numbers that make financial sense.

Dov you may also be right to in that perhaps RA have had some dialog with the IRL and perhaps received some numbers that makes sense for them right now.

I'd like a Championship race at RA, however even as a fan I understand it has to make sense for both parties to have it.

Welcome back for the new year sgw2. Haven't been over to see the inlaws in Shanghai again for Xmas ?

[Fogelhund]

Originally posted by Dov
From AutoSport.com: http://www.autosport.com/newsitem.asp?id=25620&s=7


CART attorney James Carr referred to this news as a "red herring", and argued that "if the sale is not put in place, you'll not have a racing series here to preserve".

.... [/B]

Really, it is the judges duty to ensure shareholders of CART's best interests are met. The future entertainment of race fans should not be a factor.

Now Road America is a disappointing development if proven true. It was, at least in my opinion, the best CART race there was. Great track for these cars, and usually quite exciting racing.

[jj2728]

too bad if road america goes....one of the best (if not THE) best road racing venues in the U.S....that along with mid-ohio...

[gomick]

road america didnt want to work with cart until mario came along.... they should have f1 or moto gp there - usa's best track

[Liz]

It's too far from the airport for me to ever get there anyway, so it doesn't bother me that they're being difficult in this regard.

I just hope we can get all this stuff settled and go racing.

[Jay]

lol...not sure about Moto-GP, but F1 will never come to Road America, as there simply aren't the facilities to please the F1 snobs or the capacity to handle the F1 crowd. If they can't even make money with a CART or ALMS race, they have no hope with F1.

The way CART has treated Road America in the past few years, I don't blame them for wanting to tell everyone in CART to go stuff it; however, I think that once the series reforms, the new series owners should sit down with the track owners and try to make amends. That said, the onus really is on the new CART to show that things have changed in the way they run their business. For starters, if it can't at least break even, perhaps Road America is not worth running for CART either.

[Dov]

If CART or ALMS can't make a go of it at RA then there's no way the IRL can!

[noquarter]

Really, for OWRS to survive, at this time at least, they must consider returns on investments. Potential race attendance is a liability at RA and Mid-O and for what gain? As great a track that RA is the casual TV viewing public (which most are in the US) doesn’t really care of the history of RA. RA cannot attract the 100K people that OWRS needs to make it COMMERCIALLY viable. If OWRS drops RA would CBS or Spike really care?
If RA were to go with IRL, TG and T-H and figure that it will be more successful let it be. The crowds will still not be there. The TV audience would STILL not be there.
What is the attraction? Not drivers and cars. The IRL has proven that. Not the track history. Or else the place would be packed with hardcore race fans regardless of who raced there. Not with the local population. There are not enough of them.
The attraction is TG’s and T-H’s money. For RA it’s a business and with TG’s and T-H’s money it can survive. The history of Road America is really not a concern to the track owners it is a matter of business survivability.
Let OWRS and Champcar make a triumphant return to RA when the public sees it as the pinnacle of racing in NA.
Let’s remember Douglas MacArthur and the Phillipines...
...'I (We) will return'...
...and we know what happened to the enemy when he did.......

[Dov]

Welcome to 10/TENTHS, noquarter!

[Snrub]

There's nothing particularly wrong with wanting money back for a Fontana race that was never run.

If CART wants to go to tracks in the US that aren't pulling in much money when CART comes to town, they're not going to be able to pay money to CART. Another problem that OWRS hasn't really addressed...

[Zinger]

Happy Birthday Dov, Schumachers as well. your not hidding yor real identity are you?

[noquarter]

Glad to be here, Dov. Love the intelligent dialogue. Came here because I can't get on 7thGear.

[The Snout]

Originally posted by Jay
lol...not sure about Moto-GP, but F1 will never come to Road America, as there simply aren't the facilities to please the F1 snobs or the capacity to handle the F1 crowd. If they can't even make money with a CART or ALMS race, they have no hope with F1.

The way CART has treated Road America in the past few years, I don't blame them for wanting to tell everyone in CART to go stuff it; however, I think that once the series reforms, the new series owners should sit down with the track owners and try to make amends. That said, the onus really is on the new CART to show that things have changed in the way they run their business. For starters, if it can't at least break even, perhaps Road America is not worth running for CART either.

I agree Jay. In RA shoes they are losing money and they haven't been treated well, so they want out. Fair enough I say, but I also agree that once OWRS has full control they must approach RA about racing there and see if a new relationship can be cultivated. Ok, maybe no race there in 2004, maybe not 2005. But just stay as friends then if the opportunity arises down the track and it makes sense for both RA and OWRS then we go back racing there.

I think we all become a bit one eyed for CART from time to time. I think the sooner we let baggage go like RA, TG, Indy etc and just move ahead with this series the better.

[Dov]

Originally posted by Zinger
Happy Birthday Dov, Schumachers as well. your not hidding yor real identity are you?

I appreciate that, Zinger! Thanks a lot, but my Birthday isn't until May....at least you got the day right....

[Fogelhund]

After reading this a few times, I can't help but come to the conclusion that in reality, Road America isn't stating that they don't want an OWRS race, just that they don't want to have the sanction contract brought across. Sounds like they are looking to have the sanction fee reduced, in order to make more economic sense for the track.

[mountainstar]

Originally posted by Fogelhund
After reading this a few times, I can't help but come to the conclusion that in reality, Road America isn't stating that they don't want an OWRS race, just that they don't want to have the sanction contract brought across. Sounds like they are looking to have the sanction fee reduced, in order to make more economic sense for the track.

I would bet that is the most likely situation.

[Omega99]

We can only hope that that's what it's about. Although, considering the location of the track, it's difficult to imagine how attendance could imrove significantly.

[indycool]

Sorry, attendance was fine at the track before CART started screwing around with the schedule. That pretty much destroyed it. If OWRS is to reignite interest there and grow its product back there, it's going to need to give RA a solid date that makes sense and stick with it.

And Liz, an hour or so from the Milwaukee airport, up the Interstate, then off into the Wisconsin countryside? Certainly not much different than Mosport and maybe a little closer to the airport. The trip ain't that bad.

[Liz]

The trip is not that bad IF YOU CAN DRIVE. I have only one useful eye, among other things ...

I have plenty of friends between here and Mosport who can pick me up at the GO station in Pickering or at a bus stop in Bowmanville. I don't know a soul in Wisconsin.