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Pay back???

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  • Pay back???

    This on Jayski's web site, today:

    California Speedway wants fee back: A subsidiary of International Speedway Corporation, the parent company of California Speedway, has filed a complaint with the U.S. District Court in Central California seeking the return of most of the $2.5 million sanctioning fee paid to CART for the now-canceled season-finale. The race, scheduled to be run last Sunday in Fontana, Calif., was postponed by California Speedway on Oct. 28 with a series of wildfires still raging through Southern California. CART announced the cancellation of its season-ending King Taco 500 on Oct. 29. Chris Pook, CART's president and CEO, said the sanctioning organization had looked at several options for running the race later, but could not come up with a suitable date. The petition to the court asks for the return of the sanctioning fee less "a mutually agreeable amount for legitimate expenses reasonably incurred by CART in preparing for the event." Financially strapped CART reported third-quarter losses of $34.4 million last week, and said if its proposed sale to the new Open Wheel Racing group falls through it probably would liquidate its remaining assets and go out of business.(CNNSI/AP)(11-7-2003)

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