http://www.boats.com/boat-content/20...international/.
I'll continue to follow this story as it develops.
Thread: Geico Sues SBI
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02-24-2010 12:06 PM
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02-24-2010 12:14 PMInteresting..... Is that why Geico choose to do SBI races last year as opposed to some of the OPA events?
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02-24-2010 12:22 PMI have a gut feeling that this will be a pretty hot thread here shortly. Let's all please ensure that we keep this informative, factual, and respectful to one another.
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02-24-2010 12:30 PMI wonder what the final deal was. Geico ran almost every SBI race after the TV announcement. I believe they even missed some of their own triple crown events due to conflict.
Attorneys for Geico filed the case over the payment of $150,000 by Geico for CBS television coverage of SBI races.
Geico’s complaint against SBI alleges:
“On August 20, John Carbonell, as president of SBI and Deana Carbonell, as vice president of SBI made false representations regarding the Miss Geico Racing Team boat participating in races organized by SBI. At that time, it was represented to the Plaintiff that the SBI races would be shown on CBS television on Saturday afternoons from October, 2009 through December 2009. Additionally, Geico was provided with a press release regarding the fact that SBI racing would be broadcast on the CBS Television Network.Getting bad advice is unfortunate, taking bad advice is a Serious matter!!
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02-24-2010 12:43 PMFYI
Court info:
http://courtcon.co.palm-beach.fl.us/...trpt_setup_idx
Case ID: 502010CA004746XXXXMB
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02-24-2010 12:49 PM
Let me see if I have this correct: SBI makes a deal with CBS to carry the races, etc on a weekly basis.
(Normally, networks pay the promoters for the rights to carry the races, but in this case, it sounds like SBI had to pay CBS to carry the races. That's curious.)
SBI was behind on their payments most likely because they lack the money. SBI gets Geico to make a generous contribution, most likely to get featured airtime on the CBS programming. However, SBI doesn't use the money to shore up their obligation to CBS (which still doesn't make sense.). Now Geico, who like anyone, can turn on a TV and see that the races were not broadcasted, finds out that SBI never paid CBS. So Geico has to sue SBI. Does this sound like an accurate depiction?
I'm not making any speculations, just trying to understand the flow.
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02-24-2010 12:53 PMLaughing Cat-I think you nailed it.
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02-24-2010 12:57 PM
Interesting......
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02-24-2010 01:01 PM
That makes perfect sense. It's just a shame our sport is not yet at the level where the networks would pay to cover it.
Please don't anyone throw mud at me for saying this, but. . .maybe the outcome of a situation like this will be the consolidation of the offshore racing scene so the marketing efforts can be focused to produce a higher level of awareness among potential fans.
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02-24-2010 01:05 PM
Sounds like good grounds for a legit lawsuit.
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02-24-2010 01:07 PM
whats a versus???
P-4077 "The Swamp" S.B.Y.C. and Michigan medboat mothership
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02-24-2010 01:09 PMVerses "VS" Channel on Cable/Satellite. Good catch.
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02-24-2010 01:09 PM
will geico race on the sbi schedule this year?
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02-24-2010 01:11 PM
Should make for an interested handshake photo op after their victories.
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02-24-2010 01:14 PMNevermind. My bad.