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Agreed, impact500. CART had to guarantee the $2 million loan, payable over five years so that Raceworks could hold the race at all last year. In its 3rd quarter 10Q, CART reported it had an ADDITIONAL $5 million in expenses for the race, meaning they essentially took it over anyway. When it was said it was a "small cash transaction," I took it to be over and above the $7 million it had already spent to get the race off the ground. All they were buying is a 15-year deal to hold races there. Raceworks had no assets.
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