Sunday, June 05, 2005

Long Beach Grand Prix Only $12.5 Million

According to the 8K filed by Dover Motorsports May 26, 2005 the AAM only paid $12.5 million for the Assests and Agreements of the Long Beach Grand Prix. The other $2.5 million was for Dover Real estate.

12.5 million is a rather low figure for this business which likely had $9 million in receipts this year. This indicates that Dover's expenses had indeed increased and the possibility of them taking a loss on this event is very real.

I can't imagine why there should be any loss when weighed against the attendance. One possible explanation is that they gave away the tickets!

WickerBill sez;

I hope the management has the sense to clean up this act including purging the dead wood!

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