IRL to Toronto in 2006?

[USMarine2041]

From Speedtv.com...

Report: Molson Gives Ultimatum to Champ Car on Toronto

Written by: Cassio Cortes Toronto, Canada – 10/13/2005 Molson is ready to step down as the promoters of Toronto - and it wants Champ Car to step in by this month's end. (LAT Photo)

Canadian beer maker Molson is stepping down as the promoter of the Toronto Champ Car race, and wants the sanctioning body to “pull a Long Beach” and buy the event’s assets - or risk losing it to the Indy Racing League.

According to the Toronto Sun, Molson has given Champ Car an October 31 deadline to purchase the race’s “assets” - things like the blocks, fences and bridges that make up the Exhibition Place circuit.

"What we have now is a memorandum of understanding that means if [Champ Car] wants to purchase the physical assets of the race, it has to do its due diligence now," said Cynthea Galbraith, the communications manager for Molson Sports and Entertainment, told the paper.

The brewery intends, however, to carry on as the race’s title sponsor: "If Molson is not going to run it then Champ Car will and that's the next best thing," Galbraith added.

But if Champ Car fails to come to an agreement with Molson, chances are the IRL will take over the event, perhaps as early as 2006, or maybe in an ’07 doubleheader with another Canadian venue - Montreal - that’s fallen out of grace with the CCWS.

That scenario isn’t in Champ Car’s plans.

"There will be Champ Car people in Toronto talking with Molson people about the future of Molson Sports and Entertainment," CCWS spokesman Steve Schunk told the Sun.

"Champ Car has had a great relationship over the years with Molson and with the Toronto Molson Indy race and we hope our relationship continues long into the future."

[JoeBob]

Read the actual story that this story is about: http://www.torontosun.com/Sports/Oth...60648-sun.html

There seems to be little or no chance of the IRL running at Toronto, beyond the speculation of a writer who has been campaigning for the IRL to run at Toronto for years.

Here's the most relevant quote from Molson:

"If Molson is not going to run it then Champ Car will and that's the next best thing,"

[Disciple]

The IRL could definitely put the 'Indy' back into the 'Toronto Indy.'

[dreamracer]

I wish Champ Car would take it out.

[Jim Wilke]

Read the actual story that this story is about: http://www.torontosun.com/Sports/Oth...60648-sun.html

There seems to be little or no chance of the IRL running at Toronto, beyond the speculation of a writer who has been campaigning for the IRL to run at Toronto for years.

Here's the most relevant quote from Molson:

If they are so certain they want CC to continue, why put in a deadline in 2 weeks?

[dreamracer]

End of the 3rd quarter transaction.....

[Vogler fan]

End of the 3rd quarter transaction.....

What kind of fiscal year would the third quater in on October?

[Jakester]

Fiscal years are weird.....my company's runs Oct1 thru Sep30.

[dog-ring]

I have no doubts that Champ Car will buy it...............I also have no doubts that the IRL will not buy it as IMS/IRL choose not to promote events outside The Indy 500.

If it was good financially I would expect a private promoter to purchase it and run it................

[Powercat]

I agree with dog, Champ Car will buy it. KK forked over the dough for Long Beach, and Toronto is one of his better venues.

The only way I see it happening in the IRL is if Andretti-Green bought it. Mikey has had some success at Toronto so it seems logical, but I don't see it getting to that point.

[Coyote Red]

I don't see why the IRL/CCWS couldn't work together to secure the Canadian events with the ultimate intent to reconcile. If together, it is worth more in promotion for sure, and pretty much eliminates competition in one stroke. "Indy" has market awareness, and therefore an interest in its success.

[numrounofan]

Fiscal years are weird.....my company's runs Oct1 thru Sep30.

hummmmm.....so does the US Government.........

[Jakester]

darn.....discovered.

Now I've got to get the black helicopter out and whack numrounofan before he spreads this around.

[damilt]

Come on, Barry Green & Andretti-Green promotions. Barry knowshow to promote an event (St. Pete) and Micheal has been adament that the IRL NEEDS to go to Canada.

I'm sure KK willsave his event and A/G promotions aren't interested in getting into a p*ssing match.

[JoeBob]

End of the 3rd quarter transaction.....

Their fiscal year ends on December 26th, so they're probably aiming to have this close before the end of the year. Another motivator might be their earnings call scheduled for November 1st.

[indycool]

Think damilt and JoeBob are both right. The Toronto race means more to KK than it does to Andretti or the IRL, just like Long Beach did. KK's checkbook -- with a lot of zeros on the end -- will take care of it.

[sceptic]

Molson will still sponsor the race, but the promotion and ownership will be owned by champ car.

I think like long beach they can re-coupd their money in a few years.

It just secures the race for CCWS in this exchange.

[indycool]

I'm surprised a poster with the handle of "sceptic" would not take a dimmer view of the math on this deal. Just what are The Amigos or Aquarium Assets or XYZ Co, going to do to accomplish that?