NOLA future in jeopardy as Andretti sues race track

Andretti Sports Marketing is taking NOLA Motorsports Park to court over millions of dollars still owed to them after organizing the 2015 event.

Andretti Sports Marketing, the company in charge of organizing and promoting the Grand Prix of Louisiana through 2017, has filed a lawsuit against NOLA Motorsports Park. They allege that the new IndyCar circuit owes them millions of dollars.

The rain-soaked and crash-filled race was highly criticized by those in and around the sport with some going as far as to call the inaugural event a 'disaster.' 

Andretti claims they were told that there would be enough state grant money to compensate the company for its services, but that no longer appears to be the case.

The lawsuit states that the nonprofit entity set up to collect the grant money is 'nearly insolvent,' claiming that the Avondale track has prioritized paying off vendors who could go as far as to place liens against the 75 million dollar circuit.

According to the New Orleans Advocate, As part of the agreement between ASM and the race track, NOLA Motorsports created the nonprofit group to receive $4.5 million from the state to fund improvements at the track. The agreement said only $2.6 million of the state money would be used on track upgrades. Andretti said it was assured there would be enough money left over to compensate it for all of its services. 

Instead, the lawsuit claims, $3.4 million of the state grant ended up being spent on improvements, leaving Andretti and other vendors short.

These legal troubles inherently put the future of the race in question. 

 

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About this article
Series IndyCar
Article type Breaking news
Tags andretti sports marketing, nola