JoeBob
09-20-03, 04:33 PM
There's been some talk about Carl Russo, his call for OWRS to have discussions with the IRL, and his involvement (or lack of) in the CART Privatization.
Most of the speculation has been based on press releases, which are notoriously unreliable. So, I went to the SEC Filings to comb through the fine print. Here's what I found.
This is from the original Schedule 13D filed by OWRS on August 18th, in which they outlined their proposal to CART, and established who they are. (It can be found here http://www.sec.gov/Archives/edgar/data/1259982/000095014903001972/f92547sc13d.htm )
Big Bang Racing LLC is organized under the laws of the State of Delaware and its principal office is located at 201 N. Washington Square, Suite 900, Lansing, Michigan 48933. Big Bang Racing LLC is a specially-formed entity whose principal business is to acquire a membership interest in Open Wheel Racing. The members of Big Bang Racing LLC are Paul Gentilozzi, Motorock LLC (“Motorock”) and Carl Russo.
After negotiations with CART, they filed an amendment, updating their 13D to reflect the offer CART had accepted. It is almost identical, with a few changes here and there. The paragraph above was one of the sections that changed. Here is what it looked like in the amended filing made on September 11th: (It can be found here http://www.sec.gov/Archives/edgar/data/1259982/000095014903002121/f93036sc13dza.htm )
Big Bang Racing LLC is organized under the laws of the State of Delaware and its principal office is located at 201 N. Washington Square, Suite 900, Lansing, Michigan 48933. Big Bang Racing LLC is a specially formed entity whose principal business is to acquire a membership interest in Open Wheel Racing. The members of Big Bang Racing LLC are Paul Gentilozzi and Motorock LLC (“MOTOROCK”).
So... there you have it. Russo is no longer a part of the privatization. So, he most certainly does not speak for OWRS or CART.
Most of the speculation has been based on press releases, which are notoriously unreliable. So, I went to the SEC Filings to comb through the fine print. Here's what I found.
This is from the original Schedule 13D filed by OWRS on August 18th, in which they outlined their proposal to CART, and established who they are. (It can be found here http://www.sec.gov/Archives/edgar/data/1259982/000095014903001972/f92547sc13d.htm )
Big Bang Racing LLC is organized under the laws of the State of Delaware and its principal office is located at 201 N. Washington Square, Suite 900, Lansing, Michigan 48933. Big Bang Racing LLC is a specially-formed entity whose principal business is to acquire a membership interest in Open Wheel Racing. The members of Big Bang Racing LLC are Paul Gentilozzi, Motorock LLC (“Motorock”) and Carl Russo.
After negotiations with CART, they filed an amendment, updating their 13D to reflect the offer CART had accepted. It is almost identical, with a few changes here and there. The paragraph above was one of the sections that changed. Here is what it looked like in the amended filing made on September 11th: (It can be found here http://www.sec.gov/Archives/edgar/data/1259982/000095014903002121/f93036sc13dza.htm )
Big Bang Racing LLC is organized under the laws of the State of Delaware and its principal office is located at 201 N. Washington Square, Suite 900, Lansing, Michigan 48933. Big Bang Racing LLC is a specially formed entity whose principal business is to acquire a membership interest in Open Wheel Racing. The members of Big Bang Racing LLC are Paul Gentilozzi and Motorock LLC (“MOTOROCK”).
So... there you have it. Russo is no longer a part of the privatization. So, he most certainly does not speak for OWRS or CART.