NTB TRANS-AM SERIES TO POST OVER 50 PERCENT HIGHER PURSES FOR 1998 EVENTS ENGLEWOOD, Colo. (March 2, 1998)â€”Boosted by the influx of new corporate sponsors, National Tire and Battery and BFGoodrich Tires, the NTB Trans-Am Series will ...
NTB TRANS-AM SERIES TO POST OVER 50 PERCENT HIGHER PURSES FOR 1998 EVENTS
ENGLEWOOD, Colo. (March 2, 1998)—Boosted by the influx of new corporate sponsors, National Tire and Battery and BFGoodrich Tires, the NTB Trans-Am Series will offer purses more than 50 percent greater over 1997 purses at each of the series' 13 1998 venues, topping $119,800 per event with each race winner guaranteed at least $17,000.
The total prize payout for the season is expected to exceed $2,000,000, an increase of 30 percent over last year's $1,500,000 purse and nearly $400,000 more than the single-season record payout ($1,647,950, set in 1996).
"Increasing the purse payout is an integral component to attaining the next level of success for the NTB Trans-Am Series," said Les Richter, NTB Trans-Am Council Chairman. "A larger purse structure will benefit the entire NTB Trans-Am entrant base and serve to attract new teams and drivers."
Overall, the 1998 base purse represents a 52 percent improvement over 1997 ($93,500 in 1998; $61,000 in 1997), and the race-winner's share increases almost 90 percent from last year's $9,000 base.
In addition to the base purse increases, the Appearance Plan monies (Gold Plan and Speedvision Plan), Fast Five Qualifying and program sponsor award programs have also been increased, and the 13-race 1998 payout will be a minimum $1,557,550, an increase of more than $475,000 over last year's $1,079,000 payout.
The year-end points fund of $140,000 for the top-10 finishers in the Drivers' Championship and the top-five Speedvision participants, in combination with the base purse and program awards brings the total 1998 guaranteed payout to $1,738,550, a 39 percent increase from 1997.
Contingency awards have yet to be set for the 1998 season, but are expected to set the total payout in excess of $2,000,000. The NTB Trans-Am Series contingency program will be announced prior to the first race.
"We recognize that this increase in the base NTB Trans-Am Series purse is only the first step toward securing the financial stability and future success of the series," said Richter. "The prize money and contingency programs will remain a top priority as we continue to make strides in this area."