Merc. Racing leaves LLC
06-17-2003, 03:45 PM
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Merc. Racing leaves LLC
Got the word today its over for the year. Merc doesant want to deal with the LLC anymore. To bad this had to come to this. But the racing must go on.I hate bad news like this
Mad Dog
Mad Dog
06-17-2003, 04:07 PM
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Randy,
Are you saying that Mercury Racing is done with LLC right now
or that they are not going to renew there contract next year?
I hope this is not true!! Brian
Are you saying that Mercury Racing is done with LLC right now
or that they are not going to renew there contract next year?
I hope this is not true!! Brian
06-17-2003, 04:22 PM
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Location: Sauk City, WI
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Copy of Letter From Mercury
17 June, 2003
Dear Offshore Racer:
This letter is to inform you that Mercury Racing's contractual relationship with Offshore Racing LLC was terminated as of today.
While we are endeavoring to continue providing the same level of on-site race support you've come to expect over the past 30 years, the ultimate decision is not ours. Be assured that in some fashion we will continue to support you at races. The facilities and services at Lake X are still available to you, and we will honor our commitment to you through the Contingency Programs, assuming a full national race schedule takes place.
Since the rumor mill has already been buzzing with speculation (and spin), allow me to make our position clear. It has already been published in a variety of places that we were in dispute with Offshore Racing LLC over GM's entry into offshore racing. Nothing could be further from the truth. We were not happy with the way it occurred, nor were we comfortable with changing the very nature of the Factory Classes -- affordable spec class racing which shows off the durability of both the power and vessel and highlighting the skills of the race teams. We had no concerns about competing with GM on the race course (just with their checkbook). The results thus far this season, both in the fleet choice and the race results, bear this out.
Contrary to the opinion of some, we have not taken sides in the dispute between the LLC and APBA, nor do we intend to. Mercury Marine has supported APBA and many of its race classes since the early 1940s. As the premiere, century-old powerboat sanctioning body, APBA offers an inherent credibility, worldwide sanctioning affiliations, and the necessary infrastructure and experience that are important to us as a business - and, after all, we are a business. As a business, we made a decision four years ago to move away from independent race organizations - for good or naught - and align exclusively with APBA. We intend to stay with that strategy.
Our current situation is plainly and solely an inability on the part of the LLC to deliver what we contracted and paid for over the past three years. We struggled with having to decide between our rights under the contract, our obligations as a publicly traded company and an intensely strong desire not to abandon our very loyal race customers mid-season. However, we have reached the point where we can no longer put passion over pragmatism.
We are not pleased by the turn of events and hope that you can understand the position we find ourselves in. Also understand that we will do everything we can to continue to provide you with the level of service you expect from Mercury Racing for the balance of the race season.
Continued good luck and race safe,
The Race Never Stops!
Tony Esposito
Director, Marketing & Sales
Dear Offshore Racer:
This letter is to inform you that Mercury Racing's contractual relationship with Offshore Racing LLC was terminated as of today.
While we are endeavoring to continue providing the same level of on-site race support you've come to expect over the past 30 years, the ultimate decision is not ours. Be assured that in some fashion we will continue to support you at races. The facilities and services at Lake X are still available to you, and we will honor our commitment to you through the Contingency Programs, assuming a full national race schedule takes place.
Since the rumor mill has already been buzzing with speculation (and spin), allow me to make our position clear. It has already been published in a variety of places that we were in dispute with Offshore Racing LLC over GM's entry into offshore racing. Nothing could be further from the truth. We were not happy with the way it occurred, nor were we comfortable with changing the very nature of the Factory Classes -- affordable spec class racing which shows off the durability of both the power and vessel and highlighting the skills of the race teams. We had no concerns about competing with GM on the race course (just with their checkbook). The results thus far this season, both in the fleet choice and the race results, bear this out.
Contrary to the opinion of some, we have not taken sides in the dispute between the LLC and APBA, nor do we intend to. Mercury Marine has supported APBA and many of its race classes since the early 1940s. As the premiere, century-old powerboat sanctioning body, APBA offers an inherent credibility, worldwide sanctioning affiliations, and the necessary infrastructure and experience that are important to us as a business - and, after all, we are a business. As a business, we made a decision four years ago to move away from independent race organizations - for good or naught - and align exclusively with APBA. We intend to stay with that strategy.
Our current situation is plainly and solely an inability on the part of the LLC to deliver what we contracted and paid for over the past three years. We struggled with having to decide between our rights under the contract, our obligations as a publicly traded company and an intensely strong desire not to abandon our very loyal race customers mid-season. However, we have reached the point where we can no longer put passion over pragmatism.
We are not pleased by the turn of events and hope that you can understand the position we find ourselves in. Also understand that we will do everything we can to continue to provide you with the level of service you expect from Mercury Racing for the balance of the race season.
Continued good luck and race safe,
The Race Never Stops!
Tony Esposito
Director, Marketing & Sales
