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26 Oct 2004, 21:55 (Ref:1137121)
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#1 | ||
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Racer
Join Date: Jan 2003
Posts: 256
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Panoz Selling Out
http://www.bizjournals.com/industrie...ml?t=printable
Looks like Don Panoz has decided that he wants to retire from his businesses, including racing. This puts the future of the ALMS and Panoz Motorsports right on Scott Atherton's shoulders. One has to wonder now what will happen to the Panoz Esperante GT-LM and the anticipated 2005 "factory team". With performance incentives to gain more stake in the company, does anyone believe the other two principals are going to accept any money loosing entities? |
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26 Oct 2004, 22:17 (Ref:1137150)
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Take That Fan
Veteran
Join Date: Jan 2001
Posts: 9,121
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Very interesting. I really can't see anything changing in the ALMS, at the end of the day Don Panoz set up and has been the figure head, but Scott Atherton has been running things for the past few years. I think that the ALMS will continue for some time to come.
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__________________
There is only one way of life and thats your own ! ! !
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26 Oct 2004, 23:33 (Ref:1137200)
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Veteran
Join Date: May 2002
Posts: 5,147
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Quote:
And I wonder what other criteria might be listed. Perhaps the GT-LM is part of that; perhaps the sale of the announced "up to 10 chassis being built" per the announcement two weeks ago? Last edited by paul-collins; 26 Oct 2004 at 23:38. |
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__________________
... Since all men live in darkness, who believes something is not a test of whether it is true or false. I have spent years trying to get people to ask simple questions: What is the evidence, and what does it mean? -Bill James
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28 Oct 2004, 06:21 (Ref:1138529)
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#4 | ||
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Ten-Tenths Hall of Fame
Veteran
Join Date: Feb 2002
Posts: 9,482
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And Don Panoz is not that young... I found him quite tired at LM this year...
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29 Apr 2005, 18:14 (Ref:1290287)
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#5 | ||
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Ten-Tenths Hall of Fame
Veteran
Join Date: Feb 2002
Posts: 9,482
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Claude Foubert had an interview at Courage's desk today ; there was an Esperante in the garage... it is said that Courage will import the car in Europe for any team that would like to prepare it for competition (no prep by Courage, though)...
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29 Apr 2005, 18:35 (Ref:1290296)
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Racer
Join Date: Jun 2003
Posts: 178
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Quote:
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29 Apr 2005, 20:08 (Ref:1290327)
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#7 | |
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Veteran
Join Date: Dec 2003
Posts: 6,885
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I'm not surprised as I've been hearing rumors about this for over a year now. Sounds like everything will be in good hands.
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__________________
Wolverines!
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29 Apr 2005, 21:35 (Ref:1290371)
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#8 | |||
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Veteran
Join Date: Jan 2003
Posts: 9,215
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Quote:
This is old news, Louis....that was announced last October... Don will be eventually handing it over to them, but they ar earning it.... He is keeping it "in the family," as well...he has worked closely with all three of these guys..some for as many as 25 years.... This isn't a sell-out...it is a transitional transfer of ownership to guys in the company who he feels have earned this opportunity.... |
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__________________
Finally... One American Open Wheel Series!
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29 Apr 2005, 21:44 (Ref:1290378)
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#9 | |
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Veteran
Join Date: Aug 2002
Posts: 10,500
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hint, hint..........
26 Oct 2004, 21:55   
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29 Apr 2005, 22:38 (Ref:1290393)
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#10 | ||
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Veteran
Join Date: Jun 2003
Posts: 6,699
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The motivation behind this thread is quite clear.
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__________________
"The difference between genius and stupidity is that genius has its limits." Albert Einstein
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2 May 2005, 14:15 (Ref:1291508)
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#11 | ||
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Racer
Join Date: Jan 2003
Posts: 256
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"I guess you can stop wondering what will happen to the "factory team.""
Have they sold any cars yet? Without Sponsor or car sales revenue, my original question from last year stands "With performance incentives to gain more stake in the company, does anyone believe the other two principals are going to accept any money loosing entities?" "This is old news, Louis....that was announced last October..." And the original post was last year! But why let facts get in the way of a good story or response. It never has in the past.
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2 May 2005, 15:43 (Ref:1291523)
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#12 | ||
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Veteran
Join Date: Jan 2003
Posts: 9,215
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From the post above, it looks like Courage will be the factory distributor of the car over in Europe...
and if the factory effort continues to run well, they will sell cars, Louis.... I anticipate a good run for them at Mid-Ohio...they qualified 2nd in class there last year, but took some body damage in an incident with a Porsche in the Esses that ultimately caused them to drop out of the race.... They were also very fast a Sebring before a mechanical problem caused them to drop out this year.... They will sell cars on both sides of the pond once teams see what the Panoz factory has refined and built for this year... |
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__________________
Finally... One American Open Wheel Series!
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