Wednesday, September 12, 2012

Global Rallycross Championship Secures Investment Capital

West Hollywood, Calif. (September 12, 2012) Global Rallycross Championship (GRC) is pleased to announce that it has secured substantial funding that will ensure the continued growth of the breakout sport of rallycross in the United States and around the world. Under the new partnership, Global Rallycross Championship will make significant investments in the series, with a focus on continued fan enjoyment, competition excellence and operational infrastructure.

"This investment strengthens the Series' ability to accelerate its growth with improvements in operational infrastructure as well as the ability to more aggressively promote events and engage with our growing fan base," said Chip Pankow, Global Rallycross Championship CEO. "Having gotten the Series off the ground and demonstrated it's true potential, this move comes at an ideal juncture where we can continue to build upon our early success."

Global Rallycross Championship is a sports entertainment property that combines motorsport, action sport and youth culture. It pits production-based, small cars against each other for door-to-door racing featuring dirt, asphalt, and a 70' gap jump. Drivers progress through a series of heat races to advance into a final race, where winner takes all.

Events feature intense racing, high-flying action and top-name drivers including Tanner Foust, World Rally Champions Marcus Grönholm and Sébastien Loeb and action sport icons Ken Block, Travis Pastrana, and Brian Deegan.

"We've enjoyed an unprecedented level of organic growth over the first 18 months of our existence," said Pankow. "Now, with this new investment we are in a position to more confidently chart benchmarks for year-on-year growth, particularly in terms of making investment in those areas, like our operational infrastructure, that will make a real difference over the long term."

Since its debut in 2011, the Global Rallycross Championship series has experienced dramatic growth. The inaugural season saw a schedule of three stand-alone events. In 2012, under an agreement with Speedway Motorsports, the calendar expanded to include new venues and companion racing series NASCAR and IndyCar, as well as continued inclusion in X Games.

The series is highly competitive, with top-level manufacturer-backed teams from Subaru, Ford, Dodge, Hyundai and Citroën, as well as key privateers from around the world. Series partners include Puma, Discount Tire/America’s Tire, Motegi Racing, DiRT Showdown, Cooper Tire, and Go Pro.

The series is broadcast on the ESPN networks as part of a multi-year deal. The next event will take place September 29th at Las Vegas Motor Speedway. 

Photo: Neil McDaid / Rally World News