Centrix Financial Subsidiary to Acquire Rights To Grand Prix of Denver From Dover Motorsports - aftermarketNews

Centrix Financial Subsidiary to Acquire Rights To Grand Prix of Denver From Dover Motorsports

A wholly-owned subsidiary of Centrix Financial, a financial management and services firm, has announced its intention to acquire assets and rights to the Grand Prix of Denver from the Grand Prix Association of Long Beach, Inc. (Grand Prix), a wholly-owned subsidiary of Dover Motorsports. Centrix's subsidiary is currently conducting a due diligence process and said it will announce its final decision with regard to the acquisition of rights no later than March 12. Financial terms were not disclosed.

CENTENNIAL, CO — A wholly-owned subsidiary of Centrix Financial, a financial management and services firm, has announced its intention to acquire assets and rights to the Grand Prix of Denver from the Grand Prix Association of Long Beach, Inc. (Grand Prix), a wholly-owned subsidiary of Dover Motorsports. Centrix’s subsidiary is currently conducting a due diligence process and said it will announce its final decision with regard to the acquisition of rights no later than March 12. Financial terms were not disclosed.

As part of these discussions Centrix is also seeking to retain John Frew and his staff to continue the management the Grand Prix of Denver.

Open Wheel Racing Series (OWRS), owner of the Champ Car World Series, has consented to the assignment of OWRS’ Sanction Agreement with Grand Prix to the Centrix subsidiary. Subject to consent of the City of Denver, the Centrix subsidiary will also accept all rights contained in Grand Prix’s multiyear agreement with the city, which entitles Grand Prix to stage an annual auto racing event in and around Denver’s PepsiCenter. The Centrix subsidiary will also be assigned the rights to Grand Prix’s agreement with Kroenke Sports Enterprises, subject to Kroenke’s approval.

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