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You can't turn a profit on something that doesn't make you any money.
From a financial perspective, the series has stagnated. The value in advertising space has fallen, patronage at the track is a lower number on average. They perhaps aren't able to leverage off of the current TV deal either.
Alarm bells went off a couple of years ago, when they started stripping all the expenses out of the championship; tyre restrictions, 2-day events, slimming down the staff count. Then they started a large push well after one season had started, to secure individual event sponsors (Below market rate, most likely), to try and claw the money back.
Did SEL flog it off before it started to tank? Isn't that how big business works?
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