IndyCar: Life on the Street

This would be funny if it were not so depressing. Rather than price the IndyCar product at its market value, IRL Commercial Division head Terry Angstadt has written a letter to officials in Baltimore, effectively pleading with the city and the State of Maryland to subsidize a 2011 street race in Charm City.

"I am taking this opportunity," wrote Angstadt, "to convey to you, collectively, how interested the Indy Racing League is in the possibility that our organization would sanction an IndyCar Series event in Baltimore starting in 2011."

Roggespierre has, shall we say, contacts in and near Baltimore. They detect zero popular demand for this event. The IRL could have Barry Levinson direct the telecast, Tom Fontana and David Simon write the script, and Paul Attanasio serve as executive producer, and it would not matter. As we wrote previously, an all-city lacrosse tournament would achieve more.

Much of Baltimore still hates anything that has to do with "Indianapolis" and "horse power". Most Marylanders simply do not care about IndyCar racing. Baltimore is not desperate enough to get excited about hosting a downtown street race. The citizenry believes that Baltimore already is somewhere. The Ravens play there. The Orioles play there. The Wire was shot there.

But then, this isn't really about drawing fans, is it? It's about convincing the city and state to pay for a product that the market has rejected. Why change the IndyCar TEAM program to attract fans when you can get bailed out by local governments, at least for awhile?

The Republic understands - the teams want events like this. Anything to avoid market discipline, right?

Street races do not make money without government handouts. You don't believe us? Take a moment to peruse Case SPM-31A from the Stanford Graduate School of Business. You don't believe the pointy-headed types? We invite you to read what the Texas Comptroller of Public Accounts has to say.

Notice that Long Beach claimed to generate only $20 million to $30 million per year from the Toyota Grand Prix, by all accounts the most successful temporary circuit in North America. Yet Baltimore expects to attract $100 million? How?

The principals of Baltimore Racing Development, LLC are Steven Wehner, an "entrepreneur" about whom little is known except that he owned a gas station on Martha's Vineyard at one time - we're not kidding - and Baltimore attorney Jay Davidson. But all parties implicitly admit that government money is paramount to the cause. These guys are so committed to Baltimore that they're already eyeing other east coast cities - just in case.

May we suggest Bridgeport, Connecticut? It's perfect - blighted, politically corrupt, and economically bankrupt despite being nestled in the middle of the Hedge Fund Hills of Fairfield County. It's as close to Manhattan as you'll ever put a race car. The late Paul Newman lived nearby and remains fantastically popular. Currently the host of no spectator events of note, Bridgeport is appropriately desperate. Like we said, it's perfect.

Or you could redesign the IndyCar product so that it might attract an audience at actual race tracks...

Nahhhhhhh.

Apologies to Theodoric of York

Roggespierre