Cart Has Strong Presence At SAE Conference In Detroit Detroit, MI (November 16, 1998) -- It will be a day focused on Championship Auto Racing Teams at the 1998 SAE Motorsports Engineering Conference and Exposition when CART Chairman and Chief...
Cart Has Strong Presence At SAE Conference In Detroit
Detroit, MI (November 16, 1998) -- It will be a day focused on Championship Auto Racing Teams at the 1998 SAE Motorsports Engineering Conference and Exposition when CART Chairman and Chief Executive Officer Andrew Craig will be a featured participant in a panel discussion on "The Business of Motorsports," at 3:45 p.m. ET Wednesday. The panel is a part of the Society of Automotive Engineers International annual convention going on at the Hyatt Regency Dearborn hotel in Dearborn, Mich.
Craig will address the business side of motor racing during the two-hour session. This past year has been a very active one for CART in the business world. The Troy, Mich.-based sanctioning organization started the year by adding Federal Express as the series sponsor of its Champ Car series, which races in five countries on four continents.
It then went public on the New York Stock Exchange on March 10 in a very successful initial public offering which raised more than $70 million. CART also added two races -- in Japan and Houston -- to push its schedule to 19 races in 1998. Additionally, it purchased both the PPG Dayton Indy Lights Championship and the KOOL Toyota Atlantic Championship to create a formal ladder system of development.
In the evening, the CART theme continues with one of the icons of Champ Car racing serving as the featured speaker at the SAE Annual Banquet. Bobby Rahal, three-time winner of the PPG Cup and fresh from retirement following his "Last Ride," during the 1998 FedEx Championship Series, will discuss his success as a racer and businessman. Rahal won 24 races in his CART career and took home more than $16 million in earnings.
The theme of the SAE conference, which is being conducted by the Society of Automotive Engineers (SAE) International is "Racing in the Computer Age." Other members of the panel include Herbert A. Fishel, Executive Director of the GM Motorsports Group; Jack Roush, CEO of Roush Industries and prominent NASCAR team owner; Don Panoz, founder of Panoz Motorsports; Leo Mehl, Executive Director of the Indy Racing League; John Quigley, Director of Visteon Automotive Systems; John Valentine, Chief Engineer of Ford Motor Company and Roger L. Werner, President and CEO of Speedvision Network.
Source: CART Online