RTKar
06-23-04, 09:51 PM
Wednesday's Milwaukee Journal reported," The Mile lost nearly $700,000 in the 2003 racing season. That included a $250,000 payment to Haas Racing to buy back the promoter's contract to operate the track which is now run in house. That followed a drop in racing revenue under Haas from $773,000 in 2001 to $34,900 in 2002."
Estimates of 2004 show a profit of $70,700 but included are $750,000 in sponsorships and $300,000 in naming rights. It was stated that, "the Mile's ability to generate projected revenue from sponsorships and naming rights is uncertain." an audit stated. Racing revenue for fiscal year 2003-2004 increased 78% the article stated.
Estimates of 2004 show a profit of $70,700 but included are $750,000 in sponsorships and $300,000 in naming rights. It was stated that, "the Mile's ability to generate projected revenue from sponsorships and naming rights is uncertain." an audit stated. Racing revenue for fiscal year 2003-2004 increased 78% the article stated.