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Volume 24 No. 156
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          The Indianapolis Motor Speedway (IMS) and Formula One
     officials "have an oral agreement" to bring a U.S. Grand
     Prix race to IMS in September 2000, according to Koenig &
     Miller of the INDIANAPOLIS STAR-NEWS, who cite a "source
     familiar with the negotiations."  No contract has been
     signed by either side, but the source said that IMS "has
     drafted news releases that are being reviewed" by both IMS
     President Tony George and Formula One Administration Ltd.
     President Bernie Ecclestone, and that a "formal announcement
     could come by next week."  IMS Exec VP Jeff Belskus "denied
     there is an oral agreement."  Koenig & Miller write that the
     Formula One bid "is a huge gamble for the Speedway, which
     will have to invest tens of millions of dollars before the
     first F-1 car turns a wheel."  However, it is "believed that
     George might have put up as much as" $9M in transportation
     costs for the F-1 program to race at IMS each year.  Ticket
     prices for the event "might be three times as much as" those
     for the Indy 500 or Brickyard 400, where the top-priced
     ticket is $125.  IMS "has said it wants a long term deal for
     F-1 because of the expense involved," and it is "believed
     that George might want something in the seven- to 10-year
     range (Koenig & Miller, INDIANAPOLIS STAR-NEWS, 9/24).