Toronto GP Update

[TedN]

Michael Andretti's potential purchase of the Grand Prix of Toronto is in jeopardy unless municipal, provincial and federal governments can come up with a $2-million aid package to make event viable again, numerous sources have told Sun Media.


"When AGR did their due diligence they discovered that the race was running a deficit of about $2 million a year," a source close to the group said. "AGR has told Toronto officials that they would want that deficit covered before agreeing to take over the event."

Complete Story (http://www.torontosun.com/Sports/OtherSports/2008/04/29/5416541-sun.html)

Ted

[Andrew Longman]

What, Honda doesn't want to sponsor the event a la St Pete?

Can't find another sponsor who sees the value of Marty Roth and Danica Patrick dicing it up on the streets of TO?

And it was not OK for KK to ask for subsidies, but its OK for MA to do it now?

[JLMannin]

Where's Motorock when you need them? :D

[Chaos]

pay?

no thanks... they can stuff it

That 50 million to the local economy is ******** too.

[nrc]

I'm sure the lemming forums are thick with moral outrage.

[SteveH]

I'm sure the lemming forums are thick.

I'm sure, also. :D

[oddlycalm]

There don't seem to be any other bidders waiting in the wings and the current owners of record -- Kevin Kalkhoven and Gerry Forsythe -- are said to be estranged after Kalkhoven orchestrated the deal with George.
They own a lot more than just the Toronto race together. Forsythe could really make things difficult if he wants to.

oc

[Chaos]

They own a lot more than just the Toronto race together. Forsythe could really make things difficult if he wants to.

oc

what else is there?

[G.]

what else is there?
Cosworth, I think the CCAtlantics still, Pi.

Don't they own Long Beach as well?

[Andrew Longman]

Cosworth, I think the CCAtlantics still, Pi.

Don't they own Long Beach as well?

I think that's the complete list.

I imagine they might share some debt to teams in terms of prize money and subsidies too. There might be some money they own elsewhere to promoters, broadcasters, etc. All that is tied up in the bankruptcy court though.

[pchall]

They own the LBGP contract, don't they? That's worth enough to bend Tony over a barrel.


They own a lot more than just the Toronto race together. Forsythe could really make things difficult if he wants to.

oc

[Chaos]

Cosworth, I think the CCAtlantics still, Pi.

Don't they own Long Beach as well?

I thought it was just KK that owned Cosworth and Pi.

Altantics came to my mind just as I made my last posting.

[Brickman]

Complete Story (http://www.torontosun.com/Sports/OtherSports/2008/04/29/5416541-sun.html)

Ted

I'm not a fan of the government bailing out ball parks, race series, etc.

[Indy]

If it takes my tax money, **** off.

Note: I do not live in Toronto, but I am pissed off at greedy slimeballs who use dubious economic impact statements to justify public/private corruption ventures. May they all rot in hell.

[G.]

They own a lot more than just the Toronto race together. Forsythe could really make things difficult if he wants to.

oc


They own the LBGP contract, don't they? That's worth enough to bend Tony over a barrel.


There don't seem to be any other bidders waiting in the wings and the current owners of record -- Kevin Kalkhoven and Gerry Forsythe -- are said to be estranged after Kalkhoven orchestrated the deal with George.

I THINK oc was referring to the fact that if Forsythe is really pissled at KK, he can make thing very bad for KK.

Which would make things bad for FTG as well, now that KK is in the MindyHouse.

[Cam]

I THINK oc was referring to the fact that if Forsythe is really pissled at KK, he can make thing very bad for KK.

Which would make things bad for FTG as well, now that KK is in the MindyHouse.

From my understanding GF is beyond even giving a rats arse.

[koolracer]

For anyone who would actually like to see the race in Toronto return, there is a petition started by BARC, the volunteer organization that helps to organize the race.

http://www.barc-oc.com/gp_petition

[SteveH]

They city caved and will subsidize the event
http://www.thestar.com/Sports/article/419875

[Don Quixote]

They city caved and will subsidize the event
http://www.thestar.com/Sports/article/419875

So I guess this means Mikey's hot wife can afford to buy more tacky jewelry. :gomer:

[Andrew Longman]

He wouldn't provide any figures on the value of cash and services the city has offered. However, an informed source said the city had been asked to contribute $500,000.

I've seen elsewhere that the half million was about what they were providing before in the form of police, traffic control, etc.

They are still going to need a Molson-like sponsor to make this work IMO

But that isn't ridiculous either. It IS a big event and attendance has improved each of the last few years and it does draw a lot of attention in TO.