Huge doubts over Gold Coast Indy

[220mph]

Huge doubts over Gold Coast Indy . . . Crikey!

There is increasing evidence to show the staging of the Gold Coast Indy 300 race in October may well be the last under the CART organisation . . .

[Mackie]

But I thought they signed a new 5-year contract this year. After they served up that sham last year why would they want them back?

It is a good thing CART gets a free ride on the race organizers dime, if they had to pay anything at all they might not be able to go.

[220mph]

The event is a very good one for the local area. It generates $4 or $5 return into the local economy for every dollar spent in promotion not to mention the significant "goodwill" as well.

I don't believe the article is any new news nor does it reflect badly on the event. Mostly the story reports that organizers, including some of CART's most successful ones, are concerned.

As one would expect them to be.

CART needs to do something in the next few weeks.

[Mackie]

If they miss yet another "knock your socks off" opp this Thursday they are probaoly toast. I will not embrace a "Miller," I have called him wrong too often, but yesterday on rpm he was as "down" on CART prospects as I have ever seen him, he wasn't even mad at them anymore.

[Jim Wilke]

The event is a very good one for the local area. It generates $4 or $5 return into the local economy for every dollar spent in promotion not to mention the significant "goodwill" as well.

I disagree; if I were a local taxpayer, I don't think I'd be thrilled. The government puts in $18 million and supposedly this results in an extra $50 million being spent. I have my doubts about the the $50 million. This presumes that 50,000 people travel to the race and spend $1,000 each. I would assume that at least a few folks live in the are and buy tickets and drive home.

The other issue is the amount. For a far smaller amount, I would bet that Surfers could hold a Supercar event in the streets, round up some support races and the crowds wouldn't drop a bit. Somehow I have a feeling that Australia isn't teeming with Montiero and Haberfeld fans.

[Sammich]

The only one they ever cared about was Dixon and he isn't even from there. Remember Wilke some people actually enjoy seeing the cars instead of worrying about who's driving them.

[bigred]

Originally posted by Jim Wilke
I disagree; if I were a local taxpayer, I don't think I'd be thrilled. The government puts in $18 million and supposedly this results in an extra $50 million being spent. I have my doubts about the the $50 million. This presumes that 50,000 people travel to the race and spend $1,000 each. I would assume that at least a few folks live in the are and buy tickets and drive home.

The other issue is the amount. For a far smaller amount, I would bet that Surfers could hold a Supercar event in the streets, round up some support races and the crowds wouldn't drop a bit. Somehow I have a feeling that Australia isn't teeming with Montiero and Haberfeld fans.

Remember that the $11 million in government support mentioned in the article (as well as the $50 million economic impact) are in Australian dollars. (Current exchange 1.00AUD = 0.647USD). So the numbers (in terms we can better understand) are US$ 7.117 million and US$32.350 million.

Still huge numbers to be sure, just not as big as they seemed before.

[indycool]

Economic impact is largely loose figures. If a guy buys a hot dog at the Surfers Paradise race instead of at the corner hot dog store there, what's the economic impact? At least at Indy, the money stays local.

[dog-ring]

Hmmmmmmmmmm, I've always wanted to visit Australia.........

[Truth Detector]

You guys ever heard of the multiplier effect?

[220mph]

who do you think you are - some dang banker or sumthin?

[dreamracer]

Originally posted by indycool
Economic impact is largely loose figures. If a guy buys a hot dog at the Surfers Paradise race instead of at the corner hot dog store there, what's the economic impact? At least at Indy, the money stays local.

Mmmm....

Hhhhhhot dogs.......