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DATE News (chronologically)
03/25/10
fil
Genoa Indy Lights team folds  With deep disappointment, Genoa Lights announces the suspension of operations in its Firestone® Indy Lights™ (FIL) program on the eve of the opening round of the series at the Grand Prix of St. Petersburg. Sparing no lack of effort, Genoa Lights was unable to secure the corporate partnerships and/or other funding necessary to run a competitive program for 2010. Unwilling to merely participate while funding an effort out-of-pocket, Genoa Lights has made the decision to place all of its FIL assets up for sale and to leave the series.

Genoa Lights Team Owner, Mark Olson states:

“This sport is really expensive, and the team owners don’t want to pay to participate any more than the drivers do. It’s not just a hobby; it’s a serious business. Genoa Lights is in the promotional business, but without a corporate partner to promote and without funded drivers to promote, it doesn’t make a lot of sense.”

When asked if the suspension of operations is temporary, Olson replied:

“It’s hard to say. There’s always the chance that we’ll be able to re-emerge. Arguably, we’ve got the best two open seats out there. We had fast laps and track records nearly everywhere we went last year. There are a ton of great people available. We have built a lot of solid relationships (corporate and driver) in the past two years. So if we were able to assemble a proper budget on an event basis or for the season, we’d definitely get re-engaged.”

Genoa Racing has enjoyed tremendous success in International Formula 3000, Atlantic, Indy Lights and IndyCar competition.  In over 240 formula car starts, its heritage includes a championship, 17 victories, 20 poles, and a front-row starting position at the 1998 Indianapolis 500. Some of Genoa’s past drivers include Ivan Capelli, Juan Manuel Fangio Jr., Thiago Medeiros, Jimmy Vasser and Greg Ray.  Further, Genoa would like to recognize it’s associate partners: Brandwidth, Pierce Jewelers, Quest Business Agency, JBH Marketing & PR, and Express Medical Records.

For information regarding corporate partnerships, open seats, assets for sale, or other team matters, please contact team owner, Mark Olson, at molson@genoalights.com.

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