Green light for restructure of new look for MotorSport

Media Release

Thursday 21 June 2012

Green light for restructure of new look for MotorSport Promotions

Following a special general meeting held in Wellington on Saturday, MotorSport Promotions Ltd has committed itself to the restructure process commencing with the election of a new board of directors.

As reported in April, the Sport’s promotions company which is charged with promoting MotorSport NZ’s Gold Star Race Championships confirmed a number of changes were afoot including a name change and widening of the board to bring on new talent and fresh thinking.

With those formalities now completed the new look board comprises new directors John Fowke, general manager of Finance at Toyota NZ who has been appointed Chairman, South Island businessman and racing identity Ian (Inky) Tulloch and David Dovey, president of the IRC - the independent race class series, who join existing board members Bill Brown representing circuit interests and Auckland businessman Shane McKillen appointed by MotorSport New Zealand Inc. Additional Directors may be appointed by the Board as the opportunity arises.

The Board now has a management review process in place and a business plan to complete.

The most pressing issue for the company is establishing a calendar for the Summer Series and in conjunction with the IRC series the two organisations have now agreed a calendar that will be fixed for the next three years.

This will be a significant step forward for everyone in MotorSport providing a stable platform against which much strategic planning can be commenced. The company expects to release the final Calendar at the end of this week as final negotiations around events and venues are completed. What is certain is that the 2012/13 race championship season will kick off in December and run through until April. Within that calendar the TRS International Series will feature five weekends of back to back international single seater racing and a minimum of four other premium rounds which will ensure an exciting season of motor racing for fans.

Shareholders at the SGM were unanimous in their support for the company’s plans and united around providing a whole new level of promotion and entertainment for the events that bring some of the most significant economic benefits to their regions. Events will include entertainment on track with championship classes supported by some very fast and entertaining IRC series classes and more opportunities to run with the championship truck racing category. This will be supplemented with plenty of off-track entertainment designed to offer a family friendly day at the races.

New Chairman, John Fowke is encouraged by the changes confirmed at the meeting on Saturday.

“We are entering a new era of car racing in NZ. The new generation NZV8s will be out on track this summer and we want to make sure our events are new generation also.” Fowke said.

“Our new marketing team is working hard to bring dynamic, engaging entertainment to each of our events around the country and we can’t wait to start the season,” stated CEO Martin Fine.

“There are so many events that the public can attend these days. We need to make sure our championship events are a fantastic weekend at the race track and with the initiatives we are exploring we’re confident we can deliver.”

“With the committed support of all our shareholding circuits and the benefit of a settled calendar we have the foundation on which to build a fantastic new generation series.”

Along with the calendar, the company expects to release final details of television and other media coverage by month end.

Ends

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