Thread: Geico Sues SBI
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02-25-2010 10:52 AM
Considering Team Geico put out a press release earlier this month that Team Qatar would be based out of Geico's faciliy, one would assume Team Qatar is going to follow Geico's lead.
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02-25-2010 11:22 AM
I sure hope this doesn't put a bad taste in Geico's mouth and they decide to spend their money else where.
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02-25-2010 11:33 AMI am not saying Gieco should ignore the situation. I am saying the racers would not hold Mercury Racing to the same standard as they are SBI.
The LLC could have pursued Mercury Racing but that does not sit well with potential sponsors and would have hurt the sport more.
Steve
Steve
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02-25-2010 11:57 AM
From what I have been told the 750/quatar boats will attend Ocean City, Sunny Isles, St Clair, Atlantic City, Orange Beach. Anywhere else I do not know.
Wazzup Racing Engines
OPA Racing
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02-25-2010 12:43 PM
well, the full extent of this is still in the shadows.
368 skater for sale !!!!!!
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02-25-2010 01:19 PM
Nope
OPA 2010 RACING SCHEDULE
OCEAN CITY MARYLAND-MAY 28TH-30TH
SUNNY ISLES BEACH FLORIDA-JUNE 11TH-13TH
HARRISON TOWNSHIP MICHIGAN-JULY 16TH-18TH
ST CLAIR MICHIGAN-JULY 23RD-25TH
PATCHOGUE LONG ISLAND NY-AUGUST 20TH-22ND
ATLANTIC CITY NEW JERSEY-SEPTEMBER-10TH-12TH
CAMBRIDGE MARYLAND-SEPTEMBER-24TH-26TH
ORANGE BEACH ALABAMA-OCTOBER 19TH-24TH
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02-25-2010 01:43 PM
Others have came and gone and boat racing still exists!I do like the team but don't know the politics involved?
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SHARKEY-IMAGESGuest02-25-2010 01:54 PM
I wouldn't see how that would be another Sponsor's fault if others committed to SBI and did not pay their share. The contract was not with the other Sponsors, it was with SBI.
$150,000 was only the 1st payment.
Another $150,000 was to be paid by Geico after the 1st race was aired on CBS Sports.
Obviously none of the races made it to CBS Sports leaving the Miss Gieco Racing team to answer to their number one Sponsor "GEICO" as to why there was nothing on TV as promised.....
GEICO "The Company & Sponsor" filed the suit to retrieve their $150,000 plus.
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02-25-2010 02:51 PMI have no particular knowledge of any details.
I can tell you that a large part of TV cost is collecting the footage and post production of the footage. All of this money is spent before you air a show. Knowing the LLC's Speedvision budget I would have to assume this CBS effort was going to take $1M+ in revenue to fund. It would appear that more sponsors than Gieco should have been funding it.
I have no idea what was spent where or any other details. I do believe in most any scenario Gieco should get a refund. Talking about this on here is not going to make any company get excited about purchasing advertisements or sponsorship in Offshore Boat racing.
Steve
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02-25-2010 06:07 PMSteve,
While I don't believe in beating a dead horse and at this point there is no fresh news on this subject to report, I don't believe that "talking about it on here" has an effect, one way or another, on potential advertisers or sponsors in offshore racing.
This lawsuit is hardly secret—it's in the public record. I'm not that sure advertisers and sponsors check the message boards before making marketing decisions. I do believe they do their due diligence. I just don't think they do it here.
From what I've read in this thread, people have kept the discussion civil and reasonable. And whether or not the discussion continues, I applaud that.