Report: IndyCar sues Brazil promoters over canceled race

Report: IndyCar sues Brazil promoters over canceled race

IndyCar

Report: IndyCar sues Brazil promoters over canceled race

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The Indianapolis Business Journal reports that the IndyCar Series has filed a lawsuit in a federal court in Indianapolis against Radio e Televisao Bandeirantes Ltd. the promoter of its race in Sao Paulo, Brazil that has been dropped from the 2014 calendar seeking to recover the sanctioning fee that was due this summer.

Although the amount of damages being sought was not revealed, the IBJ reports a source familiar with the sanctioning agreement said IndyCar is seeking just under $10 million for the annual sanctioning fee. IndyCar had signed a contract extension with Radio e Televisao Bandeirantes to run the event through 2014, and IndyCar’s lawsuit states that the deal had been extended through 2019.

When the 2014 IndyCar Series schedule was announced back in October, IndyCar officials indicated that they hoped the Sao Paulo race could return in 2015.

Read the full report here:

http://www.ibj.com/indycar-suit-seeks-millions-from-brazilian-promoter/PARAMS/article/45225

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