Andretti Green moves to buy Toronto race
TSN.ca Staff
3/18/2008 4:49:46 PM
Toronto's chances of being placed on the 2009 IndyCar schedule just got a
whole lot better following the announcement that Andretti Green Promotions
has signed a letter of intent to purchase the assets of the Grand Prix
Association of Toronto.
The terms of the sale have not been disclosed.
Andretti Green Promotions, which is a wholly-owned subsidiary of Andretti
Green Racing which is co-owned by Michael Andretti, Kim Green and Kevin
Savoree, has until the end of April to decide if they want to enter into a
purchase agreement.
"Toronto is a place that I have always loved," said Andretti, a seven-time
winner on the streets of Toronto.
"It's a great racetrack and a great venue. Racing there was always the
highlight of my year and it's exciting to think that we're exploring the
possibility of owning the event. If we were able to put a deal together to
own and operate an event in Toronto, I would certainly count that as
another
win there, for sure."
The Grand Prix of Toronto has been one of the mainstays of North American
open-wheel racing, dating back to 1986. Following the merger between the
IRL
and Champ Car, the 2008 event had to be postponed because a suitable date
could not be found to hold the race.
"The expressed interest by Andretti Green Promotions to own the Grand Prix
of
Toronto speaks volumes to the stature this event maintains in open wheel
racing in North America," said current CEO and president Charlie Johnson.
"We
look forward to working with Michael, Kim, Kevin and their team over the
course of the next several weeks to pull this off."
Since 2005, Andretti Green Promotions has run the race in St. Petersburg,
Florida which was the first non-oval IRL event.
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