Thursday, October 13, 2005

TSN: Molson looking to sell Toronto Indy - Auto Racing - Canada's Sports Leader: "Molson looking to sell Toronto race

By Staff //

10/13/2005 9:42:02 AM

The Champ Car series has been given an October 31st deadline to purchase the assets of the Molson Indy Toronto or risk losing it to the rival Indy Racing League.

The Toronto Sun says while Molson is looking to shed its reponsibilites as the race promoter, they will likely continue its sponsorship of the event no matter who takes over the race.

'What we have now is a memorandum of understanding that means if (Champ Car) wants to purchase the physical assets of the race - which is the blocks, the fences and the bridges - it has to do its due diligence now,' Cynthea Galbraith, Molson Sports and Entertainment communications manager tells the newspaper.

A Champ Car spokesperson says the series is very interested in keeping Toronto on its schedule.

Galbraith added that a Champ Car takeover of the event would be the 'next best thing' to Molson running it."

... more at the link above.

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