Cleveland GP Sold

[ToddBenne]

Private owner has purchased Cleveland

http://www.cleveland.com/search/index.ssf?/base/sports/1134725473149830.xml?sxcar&coll=2

[Cygni]

Looks like MiJack is serious about the race promotion biz if it really is them bidding on this event. There are rumors they are also in talks to manage at least 2 other events already on the CC calendar.

Cleveland is a very important race for ChampCar's heritage. This would be one less race that ChampCar has to promote itself (ChampCar has promoted and run the event itself the last few years). Good news.

[HardPoint]

The company definately sees a project worth investing in, more good news.

[bkeske]

Too bad Clevelanders don't see it as all that important, let alone a 'heritage'. I live in Cleveland, and this is the first I've heard about it.

[BrentJackson]

^ It is December, Brian. Mi-Jack getting into the promotion business deep, huh? That's an interesting twist, but a good one. I'd like to know who bought the race.

[Cygni]

The deals not done yet either. Stuff at the rumor/almost level normally doesnt get alot of local press. When the deal is done, it will get bigger coverage obviously.

[HardPoint]

Too bad Clevelanders don't see it as all that important, let alone a 'heritage'. I live in Cleveland, and this is the first I've heard about it.

The internuut' is faster then ink

[Shadow101]

Too bad Clevelanders don't see it as all that important, let alone a 'heritage'. I live in Cleveland, and this is the first I've heard about it.

I'll back you on that. Just saw it in the paper this morning.

[HardPoint]

Why would it be bought if CC has no value? dumb investers

[downtowndeco]

Why would it be bought if CC has no value? dumb investers

Without knowing any of the details I'd ask why would someone sell it if they were making money hand over fist?

[HardPoint]

Without knowing any of the details I'd ask why would someone sell it if they were making money hand over fist?

Why would you ask without knowing the details?

[downtowndeco]

Why would you ask without knowing the details?

You suggested that investors bought the event because it was making money. I think another way of looking at it is the owners of (of the event) wanted to get rid of it because it was losing money.

Until we know the details my scenario is as likely as yours. Cheers.

[F1 fanru]

You suggested that investors bought the event because it was making money. I think another way of looking at it is the owners of (of the event) wanted to get rid of it because it was losing money.

Until we know the details my scenario is as likely as yours. Cheers.

Losing money like Chevy,Toyota, Red Bull, Pioneer, GMAC, were with the IRL. There just doesn't happen to be any buyers.

[HardPoint]

You suggested that investors bought the event because it was making money. I think another way of looking at it is the owners of (of the event) wanted to get rid of it because it was losing money.

Until we know the details my scenario is as likely as yours. Cheers.

Your instigating "you suggested?" I never said anything you posted.

You can "think that" thats your right. Bottom line, if you thought that, someone wanted to snatch it up with the quickness. Why?

Because the IRL does these types of races (street, roadies) wheres TG's bid?
Has the past year taught him something when he bids on certain attainable assetts?

dunno

[Cygni]

Calm down on the instant IRL additions. They really have nothing to do with this thread.

I think its very safe to say that Cleveland hasnt made boatloads of money the last few years. And the "current owners" ARE ChampCar, btw. What it comes down to is ChampCar would have likely run this race for a long while out of pocket if need be, but now someone has come along and wants to purchase it because they see potential.

Seems positive to me.