Milwaukee Mile remains without promoter for 2010 season

By SceneDaily Staff

Wednesday, November 04, 2009

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Historic Mile LLC has removed itself from consideration to be the promoter of auto-racing events at the Milwaukee Mile, leaving the 1-mile track’s scheduled NASCAR races for 2010 without a promoter.

The company previously had a letter of intent with the Wisconsin State Fair Board to promote events at the track and had obtained the NASCAR sanctions for Nationwide and Camping World Truck series races next June.

In a letter to the board, the group says that, "Historic Mile invested personal capital to secure a date with NASCAR for 2010. We were, however, unable to fulfill a financial condition of the sanction agreement, which included provisions for payment of the 2009 sanction fee due NASCAR from the former promoter."

The group said it had been clear from the start that outside investors would be needed to finance the ventures.

The state owns the track property and takes bids on the promotional rights for the track. It needed a new promoter after the previous promoter’s contract was terminated for financial reasons in July.

Historic Mile was named the interim promoter to give it time to raise money while also negotiating sanctioning agreements. The Indy Racing League opted not to put the nation’s oldest race track on its schedule, but NASCAR completed a sanctioning agreement with Historic Mile and awarded the Milwaukee Mile its traditional June dates for a Truck-Nationwide weekend.

NASCAR spokesman Ramsey Poston indicated that no decision has been made about whether the NASCAR events will go on as scheduled.

“We are in touch with the Fair Board,” Poston said. “Milwaukee is a really important market to us. We have a great fan base there. At this point, we're considering every available option."