Next year’s Detroit Belle Isle Grand Prix has been postponed because of the troubled local and state economy.
“With the continuing economic challenges faced by the region, officials have postponed the event for next year with the hope of bringing back the Detroit Belle Isle Grand Prix in 2011,” organizers said in a statement.
The Labor Day weekend motorsports race was also canceled this year for the same reason.
The race, featuring American Le Mans Series and the IndyCar Series, returned in 2007 after a six-year hiatus.
It was resurrected by Roger Penske, who heads the Downtown Detroit Partnership, which oversees the three days of racing.
More than $7 million was spent on fixes and upgrades to the island in preparation for the races, including roadways, lighting, landscaping and the renovation of the historic Belle Isle Casino and Scott Fountain.
Organizers have declined to say how many people attended the 2007 and 2008 races, other than to indicate it was more than 100,000 people over the three-day weekend.
Penske is the billionaire owner of Bloomfield Hills-based Penske Corp., which includes his truck rental company and other services. He led Detroit's efforts to prepare for Super Bowl XL three years ago.
“Unfortunately, this continues to be a challenging time to secure sponsorship to produce a world-class sporting event. We remain committed to the future of the race and we are hopeful that the Detroit Belle Isle Grand Prix will return in the summer of 2011,” said Bud Denker, the race’s event chairman, in a statement.
The Grand Prix generated nearly $53 million in economic impact for metropolitan Detroit in 2007 and over $55.2 million in 2008, according to estimates from the Detroit Metro Convention and Visitors Bureau.
Details about the event and its future will be posted at www.detroitgp.com.
Article by Bill Shea and reproduced from www.crainsdetroit.com.
