Sunbelt Sponsorship

JUST RELEASED! — The Official Directory for CART Racing
Sunbelt Sponsorship - Delete!
©1997 SpeedCenter Internet Publishing, Inc.
IndyCarnival Australia title sponsor contract terminated
Just weeks after the event in Surfer's Paradise, and only 3 months after the announcement of its title sponsor "Sunbelt Developments," IndyCar Australia, the organizers of the CART racedown under, are faced with a sponsor who has been put into voluntary liquidation.
Only a small percentage of this year's payment for the naming rights to the race have been received so far, and IndyCar Australia will have to leave it up to it's lawyers to claim anyadditional funds the development company owes.
Earlier this year, Sunbelt was announced to have signed on as title sponsor through the year2000, a contract valued at $5,000,000 (see SpeedCenter story from Feb 12). Sunbelt apparently got into financial trouble right after signing this contract.
Now IndyCar Australia needs to find a new title sponsor for next year's event and beyond, a search they thought they had put behind them for a few years to come.


		JUST RELEASED! — The Official Directory for CART Racing

		Sunbelt Sponsorship - Delete! ©1997 SpeedCenter Internet Publishing, Inc. IndyCarnival Australia title sponsor contract terminated Just weeks after the event in Surfer's Paradise, and only 3 months after the announcement of its title sponsor "Sunbelt Developments," IndyCar Australia, the organizers of the CART racedown under, are faced with a sponsor who has been put into voluntary liquidation. Only a small percentage of this year's payment for the naming rights to the race have been received so far, and IndyCar Australia will have to leave it up to it's lawyers to claim anyadditional funds the development company owes. Earlier this year, Sunbelt was announced to have signed on as title sponsor through the year2000, a contract valued at $5,000,000 (see SpeedCenter story from Feb 12). Sunbelt apparently got into financial trouble right after signing this contract. Now IndyCar Australia needs to find a new title sponsor for next year's event and beyond, a search they thought they had put behind them for a few years to come.