IRL: Greg Ray statement on Access Motorsports situation

GREG RAY, Owner/Driver, Access MotorSports stated - "We have great support from our associate partners Renovac, an innovator in the clear coating industry; Capgemini, a global information technology service provider; and from University Loft, one...

GREG RAY, Owner/Driver, Access MotorSports stated - "We have great support from our associate partners Renovac, an innovator in the clear coating industry; Capgemini, a global information technology service provider; and from University Loft, one of the fastest growing furniture companies in the United States. However, it takes an enormous amount of capital and cash flow to sustain a full-time IRL IndyCar Series operation.

"As a team, we have been focusing the majority of our time on the long-term business-to-business programs that can justify racing budgets approaching $10 million. That's a very serious target and something that doesn't happen overnight."

"We have a staff of incredibly gifted and dedicated individuals. We believe we have successfully created the concepts and business programs that will generate the level of support needed to be a championship team in 2005 in the years to come.

"Our racing team, like any other business, must operate within an economic business model. We have invested millions of dollars capitalizing and subsidizing the racing program beyond actual sponsorship to date and simply cannot carry the financial load any further without primary sponsorship support.

"Planning ahead, we have worked extremely hard on completing the business programs and financial business model that is geared to activate and benefit our race program from the beginning of the 2005 season. However, the lack of a primary sponsor, as of yet, for 2004, has negatively affected cash flow to the point that we must skip the Kansas race and possibly other events until we correct some financial roadblocks. Of course, that is nothing that additional sponsorship won't immediately cure.

"We have enjoyed our working relationship with Honda and are working hard for that to continue."

Friday Afternoon, Greg Ray, owner of Access Motorsports was signing future business and sponsorship agreements with Trans Global, a national recycling and waste management firm based in Texas. At the very same moment, in Kansas, the Access team was being told that the weekend participation would not be allowed.

The Trans Global President CEO Tim Drillette replied, "We understand the position Greg is in and this weekend's news does not change our decision to partner with his team in the future. I know his team is the smallest on pit lane and he is the underdog, we like his spirit. The Access Motorsports team hosted our company and customers recently at the June Texas Motor Speedway race. Watching him charge through the pack and lead the race.It was the most incredible experience I've ever had."

Senior engineer Mike Colliver said, "We had the car prepped, set up and had already cleared all IRL technical inspection we were 100% ready to go and practicing pit stops out on pit lane when we found out. We were all jazzed because we know our speedway set-ups are sorted and quick. We were ready to race. not go home."

Veteran Crew Chief, Jamie Nanny echoed, "This is very disappointing, but it's just our short term reality until we get additional support or find methods to economize our business model and we're already operating on a tiny portion of our competitors.

Some people have compared our team to others on pit lane as 'David-vs- Goliath,' today it's more like a Ant-vs-Bulldozer.our day will come."

-access-

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Series IndyCar
Drivers Greg Ray