Toronto, Canada - September 26, 2001 - Kyser Racing Team Owner and regular driver, Kye Wankum, today announced that would-be partner Ganendran Subramaniam had opted not to pursue an ownership stake in the team after all, in favour of pursuing his many other business activities.
Mr. Subramaniam, a venture capitalist and investment fund manager based in London, England and member of the London Bar, had first met with the team at their Mosport, Canada ALMS race in August of 2000 and had shortly thereafter voiced an interest in supporting the team as a major sponsor through "Hypertainment" of New Zealand, a company Mr. Subramaniam was a major shareholder of at the time.
In January of this year, this scenario was expanded to Mr. Subramaniam wanting to actually become an active partner and shareholder in the team by committing to providing 50% of the Kyser Racing teamis annual budget and purchasing a second Porsche GT3 for the team to field in the 2001 ALMS series.
Mr. Subramaniam is also known in the racing world for committing to providing part of the funding for a new racing facility, the "Active Mountain Raceway" near New Westminster in British Columbia, Canada through his Venture Capital fund, to the tune of USD 40 Million, and for up and coming Formula Renault driver Colin Brown, himself managed by David Hunt.
Kyser Racing regrets seeing Mr. Subramaniam leave the team before he has been duly initiated and able to live out his dream to be a race team owner, but understands his need to focus on his many other pressing business endeavors around the globe. "We are sad to see him go, but wish him the very best of luck in whatever ventures he may attempt to tackle next", says Kyser Racing team owner Kye Wankum, observing that Mr. Subramaniam had actually not been seen or heard from in several months: "He must already be very busy elsewhere indeed."
On another note, it has been rumored in the ALMS paddock that Kyser Racing has been contemplating to switch over to the LMP 675 class of that series for the 2002 season and that a factory deal of, as yet, undisclosed make or nature, may be in the offing.
Says Kyser Racing team owner Kye Wankum: "We have been weighing our options while finding it increasingly difficult to be competitive in the GT class without factory support or the Michelin tire, and to subsequently get exposure and to, hence, get sponsorship. We will continue in GT only with a more competitive package, but may indeed support the desire of the series organizers to strengthen the P675 ranks for next season if the right opportunity presents itself. If the current trend continues, the GT class in the ALMS will surely die a rapid death."
It is a well-known fact, that Wankum has been visiting with English chassis manufacturers, while at the same time, assembling crew members and drivers around the team that possess a great amount of experience with high-downforce race cars, including former Joest-Audi team strategist Thomas Blam and former Emerson Fittipaldi race engineer Jim Bell, as well as drivers Doc Bundy and Joe Foster. Kye Wankum was also recently seen at a fund raising dinner, sharing a table with driver Allessandro Sampedri and British American Racing Business Development Director, Keiyth Smout.