Detroit IndyCar and ALMS races to be axed

UPDATE This rumor is upgraded to 'fact' today. “This is a real economic time of distress for everyone," said Penske, who labeled the decision a postponement. “We couldn’t sit here and count on a lot of things happening (from a sponsorship standpoint) that we knew weren’t going to happen knowing that (Detroit) is so distressed with unemployment and all the things going on." The loss of the event reduced the IndyCar Series’ schedule to 17 races next season. More at AutoWeek

12/18/08 SPEEDTV.com reports that next year's Detroit Grand Prix has been postponed and there will be an official announcement Friday. Roger Penske had revived the race, held on Belle Isle, in 2007 after getting the city to spend an estimated $7 million of taxpayer money to upgrade the paddock and temporary road course bordered by the Detroit River.

In addition to getting presenting sponsorship from Firestone and Bosch, Penske reportedly also spent his own personal money the past two years because the event was a money-loser. But, according to sources in Detroit, the corporate sponsorship for the Sept. 6, 2009 event have "dried up" thereby making the race even less feasible financially, and the decision has been made to axe the 16th of 18 races on the '09 IndyCar schedule. It's not known whether IndyCar will try to replace Detroit but plenty of other venues were interested including Cleveland, Portland, a street race in Nashville, Utah, Barber Motorsports Park, and others.

"We look at that weekend as a very valuable part of our schedule," said John Griffin, vice president of IRL public relations. "It's a big motorsports weekend. "But what we're going to do, short term or longterm, won't be decided quickly."