Formula E CEO Alejandro Agag on Monday after the series reported continuing losses in its latest annual accounts said that they "could be breaking even already were it not investing for the future." REUTERS' Alan Baldwin reported Formula E reduced its operating loss to $38.2M (all figures U.S.) at the end of July '16, a period covering its second season, from a previous $70M. Net liabilities rose to $121.4M from $81.7M, while total revenues reached $64M from a previous $22.3M. Agag: "Everything is going according to plan. Actually, we are doing incredibly well financially according to our plan. We could have broken even this year but we decided to invest more in marketing and promotion" (REUTERS, 7/3).
REPORT CARD: In Jacksonville, Don Coble noted at the halfway point of the Monster Energy NASCAR Cup Series season, "some things are clear." Stage racing is "here to stay." While "some traditionalists don’t like races to be broken into three segments, don’t expect any changes." Not only do stages "create additional strategies, it helps keep one driver from dominating the entire race." Another realization this season is that the "young guns" are the "real deal." NASCAR in the past has been "fooled before by promising young drivers, but the current group already have proven themselves" (JACKSONVILLE.com, 7/4).
NUTHIN' BUT A G THANG: In Boston, Bob Ryan noted there are many high schoolers who "think they’re ready for the NBA," but they should "understand that there may be an apprenticeship in the renamed G League for minor league pay and conditions." It "won’t necessarily be the glamour life they envisioned," but if they "don’t like that, there are other countries to try." Ryan: "What we have now is a mockery of college athletics, and it’s not doing the NBA a great service, either" (BOSTON GLOBE, 7/2).
