EVENT NEWS

Andretti Green Promotions Signs Letter of Intent to Purchase Grand Prix of Toronto Assets

INDIANAPOLIS, Ind. (March 18, 2008) Andretti Green Promotions, LLC announced today it has signed a letter of intent to purchase the assets of the Grand Prix Association of Toronto Corp.

The letter, which is dated March 14, 2008, runs through a period ending on April 30, 2008. Andretti Green Promotions, the wholly-owned subsidiary of Andretti Green Racing, will begin a process of due diligence immediately to determine if it will proceed to the next step, which would be to enter into a purchase agreement with the Grand Prix Association of Toronto.

The terms of the letter of intent will not be disclosed.

The Grand Prix Association of Toronto owns and operates the Grand Prix of Toronto, which has been a mainstay in the North American Indy racing landscape since 1986 and also saw events in 1977 and 1978.

Andretti, who also co-owns Andretti Green Racing with Kim Green and Kevin Savoree, ended his driving career following last year’s Indianapolis 500, but not before winning 42 races – seven of which came in Toronto. Team Green, the predecessor to Andretti Green Racing, captured two Toronto wins, one with driver Dario Franchitti in 1999 and another with Andretti behind the wheel in 2001.

Andretti Green Promotions has been operating since 2004 when it announced it would stage the Indy Racing League’s first non-oval event ever on April 3, 2005. Since then, the Honda Grand Prix of St. Petersburg has become a cornerstone of the IndyCar Series, Indy Pro Series and American Le Mans Series schedules.

The fourth-annual Honda Grand Prix will take place April 4-6, 2008, and will again feature two Indy Pro Series races, the Acura Sports Car Challenge ALMS race and the Honda Indy St. Pete IndyCar Series event.

Andretti Green Racing, based in Indianapolis, Ind., was founded in 2002 and stands as the winningest team in IndyCar Series history. The team has 32 IndyCar Series wins, four Indy Pro Series victories and three IndyCar Series championships to its credit (2004, 2005 and 2007). Andretti Green has won the Indianapolis 500 twice, as well, in 2005 and 2007. In addition to its Indy Racing League program, Andretti Green expanded into the American Le Mans Series with Acura in 2007 with and made an immediate impact, capturing an historic class win at the Mobil 1 Twelve Hours of Sebring.

Michael Andretti, chairman, Andretti Green Racing:

“Toronto is a place that I have always loved. It’s a great racetrack and a great venue. Racing there was always the highlight of my year and it’s exciting to think that we’re exploring the possibility of owning the event. I was fortunate enough to win there seven times as a driver and all of those wins were special. If we were able to put a deal together to own and operate an event in Toronto, I would certainly count that as another win there, for sure.“

Kevin Savoree, president and chief operating officer, Andretti Green Racing; managing director, Andretti Green Promotions:

“This is an exciting first step in the process. Having the letter of intent in place allows Andretti Green Promotions a chance to look at all the opportunities that exist in Toronto and evaluate its future. There is a great deal of due diligence to complete and a lot of hours in front of us, but we’re looking forward to getting started. Toronto has always been one of the true signature events in Indy racing and Mike, Kim and I are looking forward to exploring our options there.“

Charlie Johnstone, president & ceo, Grand Prix of Toronto:

“The expressed interest by Andretti Green Promotions to own the Grand Prix of Toronto speaks volumes to the stature this event maintains in open wheel racing in North America. We look forward to working with Michael, Kim, Kevin and their team over the course of the next several weeks to pull this off.“

Toronto loses its popular open-wheel race for 2008; organizers cannot guarantee future of event

Toronto, March 5, 2008 – While the majority of motorsports enthusiasts continue to celebrate the unification of North American open-wheel racing under the Indy Racing League (IRL) banner, Toronto fans and businesses have much less to cheer about. Grand Prix of Toronto CEO Charlie Johnstone confirmed today the 23rd edition of the race has been cancelled and that he now faces a critical period of negotiations to secure the event’s future in Toronto.

“We received an impressive show of support from IRL, Exhibition Place, drivers, local leaders such as Deputy Mayor Joe Pantalone and numerous partners,“ said Mr. Johnstone. “Unfortunately, we ran out of options and time for 2008. That doesn’t mean the future is bleak, but we’ll need concrete actions from our partners to solidify the event’s foundation and status as a marquee event in North American open-wheel racing.“

Johnstone now begins a critical phase of renewing contracts with the City of Toronto, IRL, sponsors and partners. While impressed by the broad-based support for the race, especially among the business and tourism industries, Johnstone acknowledges that’s not enough.

“We deeply appreciate the groundswell of support shown in recent weeks. Having a Toronto race is clearly important to numerous groups; but we must now coordinate our efforts with the city, province, IRL, sponsors and partners, sooner rather than later.“

Held annually since 1986, the Grand Prix of Toronto has become Ontario’s largest annual sporting event, attracting an average of 160,000 spectators on race weekend. The economic impact of the Grand Prix and the weeklong festivities surrounding it is a reported $50 million. More than $40 million of these expenditures are the result of initial attendance and Grand Prix operating expenses.

Grand Prix of Toronto Draws Support from the Business Community

Toronto, February 28, 2008 – While a glimmer of hope remains that the Grand Prix of Toronto will be on track for the 24th consecutive year, event organizers are also bracing for the possibility the popular race might have to go on hiatus in 2008. Key supporters from the business community are rallying behind the event which is a keystone of the summer festival circuit and an important economic driver for the city of Toronto.

“We are still working very hard with all of our partners, locally as well as in the IRL, to keep Toronto on the schedule for 2008 and beyond,” said Grand Prix of Toronto president, Charlie Johnstone. “Talks are ongoing and at this stage I don’t know how everything is going to play out. Realistically, we have to be prepared for anything.”

The absence of the Grand Prix of Toronto, Ontario’s largest annual sporting event, would have significant repercussions in several areas. The event attracts an average of 160,000 spectators on race weekend, and the economic impact of the Grand Prix and the weeklong festivities surrounding it is a reported $50 million. More than $40 million of these expenditures are the result of initial attendance and Grand Prix operating expenses.

The Grand Prix itself generates some $30 million in direct spending in the Greater Toronto area, and its economic activity is equivalent to about 600 full-time jobs. The event has also raised more than $5.75 million for local children’s charities over the years through the Grand Prix Charitable Foundation.

“Losing the event would hurt a lot of people – restaurants, hotels, businesses, suppliers, retailers and others who depend on the spin-offs of the event and the huge amount of people it attracts,” said Terry Mundell, the president of the Greater Toronto Hotel Association. Mundell stated that “all three levels of government have made stimulating tourism one of their main concerns, and losing the race would be a devastating blow for the industry.“

Joe Pantalone, Deputy Mayor of Toronto and Chair, Board of Governors of Exhibition Place, where the Grand Prix of Toronto is run, is another strong supporter of the event.

“The Grand Prix is one of the longest-standing tenants at Exhibition Place and we are deeply proud to be associated with a first-class organization that has become such an integral part of the summer calendar of activities in the city,“ remarked Pantalone. “We are tremendously supportive of this event and will do whatever we can to help the Grand Prix in its efforts.“

Last week’s unification of the Champ Car World Series and Indy Racing League has produced a single open-wheel series, which is an extremely positive development for motorsports fans. However, the amalgamation of the two series has created a number of logistical problems, including which races in the former Champ Car World Series will be retained for 2008.

“Grand Prix has a global following and attracts both visitors and media from around the world," said David Whitaker, President and CEO of Tourism Toronto. "The race and all the events surrounding it have become a Toronto summer signature and we are eager to see Toronto become a fixture in the future Indy circuit for many years.“

The Toronto race, scheduled for July 4-6, is currently in limbo because contractual commitments with existing venues such as the race at Watkins Glen are making it difficult for the unified series to find a spot for Toronto on this year’s schedule under such a tight timeline.

Charlie Johnstone, president of the Grand Prix of Toronto responds to questions about the 2008 race

February 27, 2008: Toronto (ON) – An announcement last Friday of the unification of the Indy Racing League (IRL) and Champ Car series and today’s press conference outlining the details of that merger have left the fate of the 2008 running of the Grand Prix of Toronto in question. The Grand Prix of Toronto slotted into the July 4th through 6th date on the Champ Car series calendar long before the issue of the unification of the two racing series was settled and conflicts with an IRL race with a 60-year history at Watkins Glen.

“We entered into negotiations with Exhibition Place several months ago, and as you can appreciate, Exhibition Place has many other functions and events throughout the summer and into the fall, including the CNE,” said Charlie Johnstone, president of the Grand Prix of Toronto. “Finding an appropriate alternate time slot based on the respective schedule of the venue, the city and the racing league is proving to be difficult under this tight time frame. We will continue to work diligently with all of the key players to find a solution, but the reality is that we may have to prepare ourselves for 2009.

Discussions will continue until such date as the complete schedule is finalized and released from the IRL.

“There is tremendous support for the Toronto race from our loyal fans, sponsors, partners, drivers and government,” said Johnstone. “The Toronto Grand Prix is a keystone of the Toronto summer schedule and an important economic driver for the city.”

RACING FRATERNITY AMONG GRAND PRIX OF TORONTO’S STRONGEST SUPPORTERS

Toronto, February 27, 2008 – Grand Prix of Toronto president Charlie Johnstone isn’t the only one who will be avidly following today’s news conference in Miami announcing details about last week’s open-wheel racing unification between the Champ Car World Series and Indy Racing League (IRL).

With the folding of Champ Car into the IRL, the fate of the popular Grand Prix of Toronto has yet to be determined, hence the keen interest of Johnstone and a broad community composed of racing fans, sponsors, business partners and commercial establishments toward an event that injects some $50 million into the local economy.

Johnstone, who regards the unification of the two racing series as an extremely positive development, has been working diligently with the IRL, the city of Toronto and the various stakeholders to overcome the various logistic issues introduced by the merger and solidify the Toronto event for the 2008 schedule.

“While there are still obstacles to clear, from my many conversations I sense there is a lot of goodwill and intention on the part of everyone involved,“ said Johnstone. “I believe all parties realize that Toronto has a wealth of attributes as an outstanding venue, with a rich tradition, strong base of fans, sponsors, partners and government support and a solid infrastructural network.“

Toronto’s status as a top-notch racing venue earns an emphatic thumbs-up from many of the drivers that have competed there over the years. This group includes seven-time Grand Prix of Toronto winner Michael Andretti, Paul Tracy, of Scarborough, Ont., a two-time winner, and fellow Canadian driver Alex Tagliani.

“Toronto has always been one of the signature events in open-wheel racing in North America and is just a great circuit and venue,“ said Andretti, now a team owner in the IRL. “The fans there are unbelievable in how they support IndyCar racing, and I think it would be a huge addition to the IndyCar series schedule, for sure. Toronto is a place that I love to go to. When I was racing, it was always the highlight of my year.“

Tracy has been racing in the Grand Prix of Toronto since 1991, and his victories there, 10 years apart, in 1993 and 2003, are among the most memorable moments in the history of the event, for Tracy, as well as the more than 70,000 fans in attendance.

There’s no bigger thrill than being able win your home race, and certainly those two days will always stand out in my mind,“ said Tracy. “I enjoy everything about returning home to race in Toronto every year – it’s a terrific venue, the fans are really into it, and the atmosphere around the entire city during race week is really exciting.“

Tagliani knows the feeling; since the first podium finish of his Champ Car career came in Toronto, when he finished second in the 2001 race. Like Tracy, he has a special place in his heart for the Grand Prix of Toronto.

“One of the highlights of my annual visit to Toronto is the intense media attention we receive and the popular support we feel from the city,“ he said. “The media devote a lot of coverage to the event, are really knowledgeable about the sport and fun to work with. It really inspires you and makes you want to give them the performance of your life.“

The unification news conference begins at 12:25 p.m. ET at the Homestead Miami Speedway. There will be live streaming on the IRL website and live coverage by the SPEED network.

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	The unification of North America’s top two open-wheel series: a positive development for the long-term wellbeing of the sport according to Grand Prix of Toronto
	Statement from Grand Prix of Toronto: February 22, 2008 – As reported on the official IRL website, Indy Racing League founder and CEO Tony George and owners of the Champ Car World Series have completed an agreement in principle that will unify the sport for 2008. “The unification of Champ Car and IRL is beneficial to race fans, sponsors, event promoters and Canadian motorsports in general. Our team of staff, partners, sponsors and supporters is continuing to work diligently to ensure that Toronto’s premier racing festival, the Grand Prix of Toronto, has the most solid foundation on which to build continued success for many years to come. From a sport and business standpoint, the positives outweigh the negatives,” said Charlie Johnstone, President and CEO of the Grand Prix Association of Toronto, referring to the unification announcement. Noting that Toronto is one of the largest financial and business centres in North America, Johnstone lauded the city as “an ideal location to showcase the unified series to a knowledgeable fan base, as well as national and international companies. It is also a centre endowed with strong private and public support. We are confident these significant factors will merit serious consideration of Toronto as an ideal racing destination in the schedule of a unified series.”
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	More information will be posted here as it becomes available.

Green from Start to Finish!

In 2007, the Grand Prix of Toronto was greener than ever!

– Partnered with cleanairpass to Offset over 500 tonnes of emissions including racecar fuel and tire rubber, energy use at indoor and outdoor exhibits, and even spectator car emissions generated by traveling to and from the event.

– Expanded on-site recycling program with Exhibition Place by providing food waste green bins in Thunder Alley and Hospitality Suites.

– Partnered with Turtle Island Recycling to collect over 9,000 pounds (4 metric tonnes) of food waste over race weekend, which will be converted to compost and soil, instead of being emptied into landfills.

– Partnered with the Toronto Transit Commission and GO Transit to encourage use of public transportation to our event.

– Increased use of recycled paper and other materials in our event marketing materials, Hospitality Suites and Media Centre

New 2008 environmental programs with our government and corporate partners will continue to decrease harmful emissions, conserve energy, reduce waste, and increase use of environmentally friendly alternatives. We are excited to lead the way on these important initiatives.

Join us in our race against environmental damage!