IndyCar's China Race In Doubt Over Fee
For the second time in a year, an Izod IndyCar Series race is "clouded in uncertainty," according to Tripp Mickle in this week's SPORTSBUSINESS JOURNAL. Sources said that the promoter of the series' August race in China has not paid a sanctioning fee, and the sanctioning body is considering moving the date of the race. Sources valued the sanctioning fee at $8-$10M. IndyCar CEO Randy Bernard declined requests to speak about the China race. Bernard said during a news conference before IndyCar's recent race at Belle Isle in Michigan the race was not "100 percent" guaranteed. Bernard added, "We have a back-up plan. That's what's most important. But right now I want to make sure China has every opportunity to succeed. We continue to work with our promoter in China." The China race is scheduled for Aug. 19 in Qingdao, a city of 8.7 million along the East China Sea. The event is being promoted by Yinxin Investment and "trumpeted as the sport's first race in China." Several teams "hoped the race would open the opportunity to land new sponsorships with international companies interested in the Asian market or Asian-based companies," but team executives have not been able to put together sales pitches because of the uncertainty around the race (SPORTSBUSINESS JOURNAL, 6/11 issue).