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Andretti Green Completes Purchase of Grand Prix of Toronto Assets

Andretti Green Promotions, LLC announced today it has formed a wholly-owned Canadian company, Andretti Green Toronto, ULC (AGT), and has completed the purchase of the assets of the Grand Prix Association of Toronto Corp.

The terms of the purchase agreements will not be disclosed.

Andretti Green Toronto is operating out of a Toronto-based office and will run its first IndyCar Series event in 2009.

Michael Andretti, chairman, Andretti Green Racing:

"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."

Kevin Savoree, president and chief operating officer, Andretti Green Racing;

managing director, Andretti Green Promotions; president of Andretti Green Toronto:

"Andretti Green is thrilled to bring Indy car racing back to 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."

Charlie Johnstone, vice president and general manager, Andretti Green Toronto:

"To have Indy car racing return to the streets of Toronto is very exciting for the city, the community and our partners. 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."