Andretti Green Promotions buys Toronto Race

Andretti Green Promotions, LLC announced today it has completed the purchase of the assets of the Grand Prix Association of Toronto Corp. Although the terms of the purchase agreement was not (and will not be) disclosed, it was revealed that a new wholly-owned Canadian company, Andretti Green Toronto, ULC (AGT) and been created and will be operating out of a Toronto-based office. Too late to be added to the 2008 schedule, it was also revealed that the marquis race will return to the IndyCar schedule in 2009.

“To have Indy car racing return to the streets of Toronto is very exciting for the city, the community and our partners," said former GPAT president, now vice president and general manager of Andretti Green Toronto, Charlie Johnstone. "Michael, Kim, Kevin and everyone at Andretti Green share great passion for this event, which will certainly ensure the continuation of an outstanding racing tradition for years to come. We look forward to once again putting Toronto on the world stage and delivering an epic event.”

AGT is part of the Andretti Green family of companies which includes Andretti Green Racing and Andretti Green Promotions. The promotional arm of the company, which was founded in 2004, also oversees the Honda Grand Prix of St. Petersburg.

“Andretti Green is thrilled to bring Indy car racing back to Toronto," said Kevin Savoree, president and CEO of Andretti Green Racing; managing director of Andretti Green Promotions and now president of Andretti Green Toronto. "It’s an event with so much heritage and we look forward to continuing that. As a market, Toronto is among the elite in North America with a huge fan base and a great business climate. So many people invested a lot of effort to make this a reality and we are very appreciative of that. This begins a new chapter for IndyCar racing in Toronto and the future is very bright.”

Added former IndyCar driver and now chairman of Andretti Green Racing, Michael Andretti:

“We are very excited to be coming to Toronto. It is a terrific city and a great venue for Andretti Green to host another event. As a driver, Toronto was always my favorite race of the year and it will be no different as a promoter. The fans are some of the most enthusiastic you’ll ever be around and we’re looking forward to building on the great history of this event.”

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