more news from NHRA

[john ancona]

The part that states with no fans ( and the Stock & Super Stock Racers they ran off ) along with all their employees ,indicates a need to cut cost ,but in the next statement they are financially Strong ! When your one of your biggest sponsors backs out what else could you say but we are financially strong to keep the other sponsors from backing out also ! The old saying is when the tide goes out you can see who is swimming naked !

[BG56]

Effective immediately, I presume? So what will this do to last week's 'good' news of signing FoxSports to multi-year deal to broadcast. Again, at cost, I presume. Another 2020 Kick in the Teeth! Ouch!

[Jeff Stout]

NHRA states Coke as a family member , then file a lawsuit. You nhra changed what Coke was to receive for their money. Covid changed your schedule. Coke should not be held responsible for fulfilling their obligation. You did not fulfill yours. You reduced purses, how about your salary and others up top in ivory tower. We are family and everyone should suffer together.

[Greg Hill]

Wonder who has the best lawyers?

[Billy Nees]

Originally Posted by Greg Hill

Wonder who has the best lawyers?

Probably the people with the most money to spend.

[Bob Don]

Financially strong means...the hierarchy are able to retain their salaries.

[GUMP]

I find this to be a very poorly thought out move by the NHRA. I really hope that the organization survives.

[Keith 944]

yep, just like family....

[SStockDart]

Originally Posted by Jeff Stout

NHRA states Coke as a family member , then file a lawsuit. You nhra changed what Coke was to receive for their money. Covid changed your schedule. Coke should not be held responsible for fulfilling their obligation. You did not fulfill yours. You reduced purses, how about your salary and others up top in ivory tower. We are family and everyone should suffer together.

Very well said Jeff (and fellow Phoenician). I actually negotiated a contract for Coca-Cola when Wild Horse Pass was Firebird...a long, long time ago. These type of contracts have assurances built into them, and what is referred to "act of God" clauses. As an example, if you contracted with an amusement park, and it got leveled by an earthquake, you would be excused from the contract. Very likely you would have an attendance guarantee or compensation could be reduced. In the case with NHRA, I doubt they had insurance to cover an act of God, since tracks are spread out all over.

When TV agreements get involved with a contract, the network very likely requires a minimum advertising investment. An example would be.......NBC will pay you a million dollars if you guarantee NBC 2 million in ad revenue (or pick a number). This recent deal with FOX agreement seems a little suspicious to me.

Hope it all works out.

[Jim Hanig]

Originally Posted by john ancona

The part that states with no fans ( and the Stock & Super Stock Racers they ran off ) along with all their employees ,indicates a need to cut cost ,but in the next statement they are financially Strong ! When your one of your biggest sponsors backs out what else could you say but we are financially strong to keep the other sponsors from backing out also ! The old saying is when the tide goes out you can see who is swimming naked !

The only thing they have touched Is their pay, which looks to in the GM range.