Commission Approves Plan to Invest State Funds in Indianapolis Motor Speedway

Proposed plans to revamp the Indianapolis Motor Speedway have been boosted today after the Indiana Motorsports Commission approved preliminary plans by Hulman & Company to invest state funds on infrastructure upgrades.

The commission approved a resolution to adopt the IMS improvement plan, including creation of a new Motorsports Investment District for IMS, a step toward issuing bonds to fund improvements at the facility.

“We’re grateful for the support we’ve received from Hoosiers, the Indiana General Assembly and Governor Mike Pence to assist us with needed capital improvements,” said Jeff Belskus, Hulman & Company president and chief administrative officer. “We have a plan for IMS that assures the best return for taxpayers and enhances our role as an economic engine for the state.”

IMS has an annual economic impact of more than $500 million in Indiana, and the motorsports industry in Indiana supports more than 6,200 Indiana jobs that pay an average wage of $63,000, according to an Indiana University Public Policy Institute report released earlier this year.

The plan submitted to the IMC used these criteria to broadly identify the types of improvements to fund with bond proceeds over the next several years:

•Focus on necessary track modifications, including:
o The addition of an apron in the four turns of the IMS oval to be used in NASCAR events, enhancing competition
o Repaving and reconfiguration of the IMS road course, a project completed in November 2013
o Refurbishing of catch fencing

•Focus on the fan experience, including:
o Seating improvements to improve comfort, better grandstand access with more elevators and suite renovations
o New video screens and Scoring Pylon
o Modernized restroom facilities
o Increasing concession choices, expanding fan zones and providing more entertainment
o Need for improved access, traffic flow and parking

•Focus on technology, including:
o Availability of wireless access throughout the facility
o State-of-the-art data, video and audio availability

Some components of the plan already have been implemented. Improvements to the IMS road course were pivotal to the creation of the Grand Prix of Indianapolis IndyCar Series race on May 8-10, 2014 and the retention of the Red Bull Indianapolis GP MotoGP World Championship race Aug. 8-10, 2014 – two events with significant economic impact for Indiana.

“We’ll complete our master plan next spring, but the first upgrades, which complement our new Month of May, are already underway,” Belskus said. “We just completed paving the newly modified road course that will host the inaugural Grand Prix of Indianapolis on May 10 and be used by MotoGP competitors in August. Our fans also will see a new Scoring Pylon and new video screens next spring. And that’s just the beginning.”

Additional plans for IMS development and enhancement beyond the funding managed by the Indiana Motorsports Commission also will be included in the master plan to be released in spring 2014.

“We started with ideas for improvements that totaled hundreds of millions of dollars, and we’ve reduced our list to a list of potential projects with total spending of about $140 million,” Belskus said. “Now we have some difficult decisions ahead to pare the list further before we ask the commission for its approval.”

The plan does not include installing lights on the famed, 2.5-mile IMS oval for night races. Economic studies showed this $20-million investment did not provide the best return for taxpayers.

Instead, capital improvements in fan experience and track modifications will make IMS a more attractive venue with higher quality racing events. IMS will continue to put a top priority on investments that grow ticket sales and protect revenue from existing events.

“Improving the quality of racing will grow ticket sales,” Belskus said. “For example, adding an apron to the track would improve the passing opportunities during the Kroger Super Weekend at the Brickyard.”

Rally Australia Organisers Look for 2014 Event to Boost Coffs Coast

With Rally Australia being confirmed on the 2014 World Rally Championship (WRC) calendar, event organisers believe the event will provide many opportunities to further develop the Coffs Coast.

Rally Australia will be staged on 11-14 September 2014, following the announcement on Friday of the full 2014 WRC calendar by the FIA, the world governing body of motorsport.

After the successful staging of the 2013 Coates Hire Rally Australia this month – won by Volkswagen’s Sebastien Ogier – early news of a change from biennial to annual frequency will allow the organisers and their partners to maintain the momentum and devote more resources to enhancing the event, Rally Australia Chairman Ben Rainsford believes.

“Confirmation of Rally Australia 2014 is great news not only for us as organisers, our local suppliers and our partners including Coates Hire, East Coast Bullbars and the Forestry Corporation, but it is also a reward for the Coffs Coast community, which made a very big contribution to the success of our recent event and the previous one in 2011,” Rainsford stated.

“I thank the New South Wales Government through its Destination NSW organisation, Coffs Harbour City Council and the many other parties that have supported our bid for an annual WRC round.

“Knowing that we can turn around straight away on organising 2014 means we can retain local staff, supply chains, logistical arrangements and potentially sponsors and put more time into improving the attractions for spectators.

“As Australia’s only other four-wheel world championship outside F1, Rally Australia has a tremendous opportunity to become one of our biggest and most exciting motorsport festivals and to make an even bigger contribution to the Coffs Coast regional economy.

“We’re already reviewing plans for 2014 and hope to announce some new initiatives soon.”

Rainsford added that Rally Australia had signed a contract for events in 2014 and 2015 with the WRC commercial rights holder WRC Promoter GmbH, although confirmation of 2015 would be subject to the normal FIA processes.

Rally Australia is also pressing ahead with a bid for 2016, he said.

Ladies European Tour YouTube Re-launch Brings in Record Subscribers

The re-launch of the Ladies European Tour’s YouTube channel has led to the channel receiving a 10 fold increase in subscribers to coincide with live streaming of the 2013 Solheim Cup according to organisers.

The LET YouTube Channel is rapidly growing into one of the most popular golf channels online with a healthy combination of live streaming, physician highlights and features, giving the viewer an unparalleled opportunity to immerse themselves into the world of women’s golf.

The Ladies European Tour is in a unique position with members from all five continents giving a vast potential market for viewers to tune in and watch their favourite player.

Ladies European Tour Chief Executive Officer Ivan Khodabakhsh said: “The new YouTube channel has been an unprecedented success. Over 30 hours of The Solheim Cup were streamed in HD and we picked up new fans in areas ignored by regular TV coverage.”

Charlie Muirhead, CEO and Founder of Rightster, who partnered with the LET to distribute and market the video content, said: “We are thrilled to be working with the Ladies European Tour to provide viewers in markets without broadcast distribution of the Solheim Cup, giving them the opportunity to enjoy the drama of tournament as it happens. Partnering with Rightster allows LET to focus internal resources and funds on what they do best while we manage the complexity of live streaming and crucially, the task of finding and engaging the right online audience.”

YouTube viewing figures for The Solheim Cup hit six figures over four days including live streaming, exclusive features, highlights and interviews with the leading players, produced by LET Production Partner UCOM.

British GP Sees Third Highest Attendance for Race Day

Silverstone have announced the 2013 British Grand Prix was the third highest attended of all time with 120,000 flocking to the race.

Richard Phillips, Managing Director of Silverstone Circuits Limited, belives the race was an overwhelming success and one of the biggest and best in recent years. to a dramatic, action packed race at a sun drenched Silverstone. 

Phillips commented: “The British Grand Prix was back to its very best this year. For us it’s all about the fans’ experience and I don’t think the event could have gone any better. We had huge crowds here on Friday, Saturday and Sunday – Sunday was our third biggest attendance of all time – and early feedback from the fans has been exemplary. The biggest indicator for us is on-event sales for next year’s British Grand Prix, which were up 50% over the weekend. That alone speaks volumes about the success of this year’s event. 

“There was a real festival atmosphere; the sun shone, everyone got in and out of the circuit in record time and the race itself was full of drama, keeping us all on the edge of our seats. We almost had a British driver on the podium too – a few more laps and Lewis would have been up there. But if we can’t have a British driver, we’ll settle for two local teams; I was pleased for Mercedes and Red Bull.” 

Race winner Nico Rosberg later joined British drivers Lewis Hamilton, Jenson Button, Paul Di Resta and Max Chilton, plus a host of British motor sport legends and current F1 drivers, at Silverstone’s post-race Grand Prix Party on Sunday evening. 

More than 18,000 fans stayed behind for the traditional post-race finale to hear from the drivers at the Grand Prix Party, which was free to all ticket holders.

NBA Looks to Adopt Court Advertising for First Time

The NBA is set to adopt advertising on courts next season for the first time according to reports.

ESPN reports teams are permitted to sell space on the out-of-bounds area on the sideline between the baselines and the coaches’ box where teams currently advertise their website or Twitter handles.

A team can place a company’s logo on the floor in front of both team benches, but it has to be a decal. That’s because teams can sell the space to a company only for games that are televised locally.

One team executive says that the deals could range anywhere from mid six figures to $2 million annually, with the value of the signage likely varying depending on the market.

Players will get a slice of the pie from any revenue generated from the new signage opportunity as it will be calculated into the league’s basketball related income.

The idea, proposed by deputy commissioner Adam Silver, will be on trial for a one-year period to determine whether the league wants to make it a permanent piece of space to sell in the future. 

Worcestershire Cricket Announce Profit

Worcestershire County Cricket Club has announced a profit after interest of £225,009 for the year ending 30th September 2012.

Chief Executive, David Leatherdale commented “while it is pleasing to make a profit for the 3rd consecutive year, the 2012 figure is boosted by the exceptional profit from the land lease to Premier Inn.

“At the Club’s 2011 AGM it was noted that we had done a great deal to reduce risk, but clearly have not yet done enough to offset the extreme adverse weather in 2012. Met Office figures showed 2012 to be the second wettest summer since records began and resulted in the loss of over 15 days home and away cricket, making 2012 a real challenge.

“However, we now have our Premier Inn hotel and new Club facilities under construction, which is anticipated to attract 35,000-40,000 hotel visitors a year, and combined with our own new conferencing, bars and executive facilities will allow the Club to extend existing revenue streams as well as develop new areas. This will create a truly 365 day a year business with a long term viable and sustainable future ultimately allowing further investment both on and off the pitch.

“As we head into 2013 it is hoped the visit by Australia on the 2nd-5th July, as they warm up for eagerly anticipated 2013 Ashes series will also give the Club and City a boost at the height of summer.”

London to Have Two NFL Regular-Season Games after Minnesota Vikings Commit

London may have two regular season games after the Minnesota Vikings agreed to play one of their eight home games at Wembley Stadium next September, vice president of public affairs and stadium development Lester Bagley confirmed on Sunday.

The NFL is scheduled to announce the date and opponent during Tuesday’s owners meetings.

The Jacksonville Jaguars are scheduled to play home games from 2013-16, but the league has said it would schedule a second London game starting in 2013, and the Vikings are the first club to participate in that endeavor.

The Vikings have not played abroad in 18 years. But they emerged as a contender after the St. Louis Rams abandoned plans to play in London in 2013 and ’14 to focus on a stadium deal in St. Louis

The Vikings are ideal candidates because they have a flexible lease at the Metrodome, where they rank 31st out of 32 teams in stadium revenue. The club also is talking to the University of Minnesota about playing at least one season, and perhaps a portion of another, at TCF Bank Stadium while its new stadium is being built.

Relocating one or possibly two games to London would not be financially burdensome to the Vikings, who do not have contractual obligations with municipalities or stadium authorities to play a minimum number of games per season like many NFL teams.

The NFL played its first annual game at Wembley Stadium in 2007. Nine teams have visited, including the Tampa Bay Buccaneers twice.

The Rams are scheduled to play the New England Patriots Oct. 28.

Durban to Host Inaugural Soccerex African Forum

Soccerex, drugs the global leader for the business of football, has confirmed the signing of a three year contract with the Kwazulu-Natal Provincial Government and  EThekwini Municipality, to host the Soccerex African Forum from 2012 – 2014.

The inaugural Soccerex African Forum will take place at the International Convention Centre in Durban from 23-24 October 2012, just days ahead of the draw for the 2013 African Cup of Nations which is attended by all the federations from across the continent. 

The two day event will feature a conference, exhibition and a programme of networking events and will build on the business legacy of Soccerex’s three year stay in South Africa (2007-2009) for the Global Convention and the legacy of 2010 FIFA World Cup across Africa. Focusing on a mixture of continental and global football issues, the Forum will bring together the leading decision makers in African football business with their counterparts from around the world for two days of unrivalled learning, networking and commercial opportunities.

Soccerex CEO Duncan Revie said: “I am so pleased that Soccerex is returning to South Africa for the Soccerex African Forum.  Following the positive experience we had there with our Global Convention, we always intended to return to the country and in Durban I am sure we have found the perfect host for the next chapter of our experience in South Africa.”

The Soccerex African Forum is part of a new Soccerex event programme that includes the regionally focused Soccerex Lagos Seminar and the internationally renowned Soccerex European Forum in Manchester and Soccerex Global Convention in Rio de Janeiro.

WTA Opens Up Tender for 2014 Tour Championship

The Womens Tennis Association (WTA) has ignited a bidding frenzy among major venues after putting the season-ending Tour Championships in 2014 out to tender.

The event, which will take place in Istanbul both this year and next, does not yet have a home for its 2014 staging.

London’s O2 Arena could be interested having successfully staged the equivalent men’s event, the Barclays ATP World Tour Finals, over the past three years.

It will continue to do so until 2013 but it currently does not have the rights to stage the 2014 tournament, creating a possible opening. However, while the men’s event has proved popular with more than 17,000 people regularly attending, the women’s event, won last year by Petra Kvitova, is likely to be harder to sell to British fans.

Interested venues have been asked to express their interest by June 29 of this year. A formal bid must then be made by September 21.

The WTA will announce a shortlist in October with a final decision being made next March.

Stacey Allaster, chairman and chief executive of the WTA, said: “Based on the significant demand by numerous cities around the world to invest in women’s tennis and host our year-end WTA Championships, we decided to launch an international bidding process to select a host city for 2014 and beyond.

“It’s a chance for some city somewhere to step up on the world stage. We are confident that through this process we will be able to identify the right city to become the next partner for the world’s premier sporting event for women.”

The tournament features the world’s top eight players from that particular season.

The WTA Championships have previously been staged in cities including Los Angeles, Munich, Madrid and Doha.

However, New York’s Madison Square Garden (MSG) is probably its most well-known host venue having staged the event every year bar one between 1977 and 2000. It is believed to be interested in staging more tennis in the future, having held a special exhibition event, featuring Roger Federer and Maria Sharapova, earlier this season.

LA Dodgers & Fox Sports Agree Settlement Opening Up Sale of Team

A bankruptcy judge in Delaware on Wednesday approved a settlement between the Los Angeles Dodgers and Fox Sports pavings the way for the sale of the team.

The settlement, reached late Tuesday and quickly approved at a brief court hearing Wednesday morning, ends a contentious legal battle between the ball club and Fox.

“The agreement with Fox clears the path for the Dodgers to sell the team on schedule and to maximize the value of the debtors’ estate,” Dodgers attorney Sid Levinson told Judge Kevin Gross.

Fox Sports attorney Greg Werkheiser said Fox was glad to have resolved its differences with the Dodgers, and attorneys for Major League Baseball and the Dodgers’ committee of unsecured creditors told Gross they support the settlement.

Gross quickly signed off on the settlement, saying it was in the best interest of all parties in the Dodgers bankruptcy case.

The settlement was reached with the help of a court-appointed mediator after a federal district court judge said last month that Fox likely would win an appeal of a ruling by Gross that authorized the Dodgers to begin a process to market the media rights to future games starting in 2014.

Fox Sports Net West, part of Rupert Murdoch’s News Corp., claimed that the media rights marketing plan violated its rights under an existing telecast contract with the Dodgers.

Under the settlement, the Dodgers will abide by the terms of the existing contract with Fox. That contract gives Fox an exclusive 45-day period starting in October to try to negotiate a contract extension with the Dodgers. The contract also prohibits the Dodgers from talking to other potential buyers of the media rights before Nov. 30 and gives Fox a limited right of first refusal on competing offers received after that date.

Gross had ruled that those “no-shop” provisions were unenforceable in bankruptcy and approved a marketing process that moved up the exclusive negotiating period by about 10 months. That would have forced Fox to try to strike a new deal with the Dodgers this month and made any agreement subject to approval by the successful bidder for the team, a condition Fox said would decrease its leverage in negotiations.

But the Dodgers and the creditors committee insisted the media rights needed to be marketed in conjunction with a sale of the team itself to maximize value.

The Dodgers backed away from that position after U.S. District Judge Leonard Stark, granting a stay in an appeal by Fox, indicated that Gross likely erred in approving the media rights marketing process. Stark’s decision threatened plans to sell the team by an April 30 deadline called for an agreement between the Dodgers and Major League Baseball.