|Qingdao's IndyCar race is surrounded by uncertainty|
Monday, 11 June 2012 05:46
The future of an Izod IndyCar Series race in Qingdao, China is uncertain.
According to reports, the promoter of the series' August race in China has not paid a sanctioning fee and the sanctioning body is considering changing the date of the race.
The sanctioning fee is believed to be between $8m and $10m.
IndyCar CEO Randy Bernard has not commented on the latest reports but said during a news conference before IndyCar's recent race at Belle Isle in Michigan the China race was not 100 percent guaranteed and that IndyCar would work the promoter to ensure the race goes ahead. Bernard also said IndyCar has a "back-up plan".
The China race is scheduled for August 19 in the east coast city of Qingdao. The event is being promoted by Yinxin Investment and would be the first IndyCar race in China.
Several teams hoped the race would provide new sponsorship and networking opportunities with Asian companies and business interested in the Asian market but have not been able to put together sales pitches because of the uncertainty about the race.