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Wednesday, June 1, 2011

Mosport sold to Canadian group

From CNW

TORONTO, ON - Canadian Motorsport Ventures Ltd., established by famed Canadian racer Ron Fellows, transportation industry leader, Alan Boughton, and real-estate developer Carlo Fidani, today announced the company's purchase of Mosport International Raceway. Taking over from the Panoz Motor Sports Group, the new owners will build on Mosport's storied history and respected reputation to create new and exciting opportunities for race fans, corporate partners and drivers on an international scale.

Recognized as Canada's Home of Motorsports, Mosport is the country's largest automotive performance and racing facility, and has hosted almost every class of road racing on its famed 3.96km circuit, including Formula 1, IndyCar, sports cars, stock cars, motorcycles and karts. Under the new leadership, Myles Brandt will continue to serve in his role as President and General Manager at the facility. 

"We want to thank the Panoz Motor Sports Group for making Mosport what it is today - a world class racing venue that hosts some of North America's best road racing series and a place of inspiration for generations of racers in Canada," said Boughton, Managing Partner, Canadian Motorsport Ventures, Ltd. "We are excited to pour our racing passion and business expertise into Mosport and look forward to working together with local government and tourism authorities to take this historic race facility to the next level in delivering the best excitement and entertainment motor racing has to offer."

Fellows is a Canadian racing legend with a distinguished racing record and a deep relationship with Mosport, which started at the age of 11 where he attended his first race. Mosport is also where Fellows won his first driver's championship, first Trans-Am Series victory, first prototype sports cars win, three straight class victories in the American Le Mans Series, and most recently in 2010, a series victory in SCCA World Challenge in Mosport's 50th anniversary year.

Boughton is President and Managing Partner of Trailcon Leasing and a long-time classic car enthusiast and restorer with a passion for racing.

Fidani is Chairman and CEO of Orlando Corporation and an accomplished businessman who brings a wealth of development insight and experience to Mosport.

"Myles and his staff have done an extraordinary job with Mosport," said Don Panoz, founder of the Panoz Motor Sports Group. "There is no deeper racing tradition or racing history in Canada than what exists here. I am personally very gratified that we have been able to help this crown jewel grow and improve for both racers and fans and I am very happy to now turn it over to a group that loves this place as much as I do. And I want to say a special thank you to Ron Fellows, who has always been a true gentleman, champion and the greatest representative of Canadian racing that I have known. The fact that he is now one of the owners of Mosport is a dream come true for both of us."

Panoz also owns the American Le Mans Series presented by Tequila Patrón, which returns to Mosport for its only north-of-the-border stop, July 21-24, as part of the Mobil 1 presents The Grand Prix of Mosport - Canada's biggest sports car race of the year.

"We could not be more pleased to be returning Mosport back to Canadian ownership and stewardship," said Scott Atherton, president and CEO of Panoz Motor Sports Group. "The new owners represent the best possible combination of top quality business professionals, enthusiasts and resources. Canadian race fans have a lot of very positive things to look forward to at Mosport. And we will look forward to bringing the American Le Mans Series presented by Tequila Patrón back to Mosport for many years to come."

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