SBD/Issue 165/Events & Attractions

Andretti Green Racing Purchases Grand Prix Of Toronto

Andretti Completes Purchase
Of Grand Prix Of Toronto
Andretti Green Promotions Thursday said that it has "formed a wholly-owned Canadian company, Andretti Green Toronto, and completed the purchase of the assets of the Grand Prix Association of Toronto," according to the CP. The Grand Prix Association of Toronto ran the Grand Prix of Toronto until the race was left off this season's IndyCar Series schedule after the Champ Car-IRL unification. Andretti Green Toronto in a release said that it is "operating out of a local office and plans to run its first IndyCar Series event in 2009." Terms of the deal were not disclosed, and there was "no word from IndyCar on a possible date for next season if the race is added to the schedule" (CP, 5/15). In Toronto, Dean McNulty reports Andretti Green Racing (AGR) Chair Michael Andretti was able to "convince the city and the province to pony up enough cash incentives to cover the $2[M] deficit the race had been running over the past several years." Ontario contributed $1M of the total, Tourism Toronto $500,000 and the city of Toronto another $500,000 to "make the race a viable entity" (TORONTO SUN, 5/16).

NOT YET ON THE SCHEDULE: The GLOBE & MAIL's Jennifer Lewington reports Toronto is "not yet on the 2009 schedule" for the new series, but sources said that it will be a "matter of weeks, at most, before Toronto gets the nod" (GLOBE & MAIL, 5/16). In Toronto, Rick Matsumoto writes it is "unlikely that AGR ... would have gone through with the purchase without assurance that Toronto would be on the 2009 list." IRL Exec VP/Communications Fred Nation confirmed that "no formal agreement has been signed with AGR." Nation: "But we certainly look at Toronto as the type of market we'd like to be in." Former Grand Prix of Toronto GM Bob Singleton: "I think they have to focus on energizing the city again, getting some sponsorship and turn the thing into more than a race; make it an event." Matsumoto notes the '09 IndyCar schedule will be released in July (TORONTO STAR, 5/16).

REAX: Also in Toronto, Dave Feschuk writes the race "needs the city more than the city needs the race." Feschuk: "With another smog-warning summer on the yellowing horizon, there's no earth-wise justification for it. ... But if zero-emission entertainment and recreation is the standard, let's quit running those dastardly compressors that suck power from our coal-burning hydro grid to cool so many of our ice rinks year round" (TORONTO STAR, 5/16).

Return to top

Related Topics:

Events and Attractions

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug