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Originally Posted by indycool
No, what they did was cut the event prize fund, jack up the "500" purse and THEN do the subsidy, all at the same time. A lot of it is trading dollars around.
As for making sponsorship cheaper, a team now needs $3-3.5 million to run the series instead of $4.2-$4.7 million. That means it can approach a sponsor with more realistic numbers. A sponsor is looking for bang for the buck. It's a better buy at the lower number.
EDIT: Climb, you must be walking different streets in Indy than I do.
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It's common knowledge and voiced by different team owners in previously published articles that the budget to run the irl is more like $5-$8 million.
But for arguments sake I'll take your numbers for the moment. What you are saying is that sponsorships are only worth $3 million? So you've devalued the price of the sponsorship. Hmmm... You've hailed the welfare checks as greatness to lift a nearly out of business IRL team onto the grid yet you've slammed the $2 million assistance prize given to the atlantic champion as not being useful. Hmmm....
As you say a lot of it was trading dollars around. The indy purse was long overdue for an increase, so I don't see that as a big net gain. The prize fund has been socialized into welfare checks with equal amounts for all with a little meagre prize money to the top finishers at each race. Big Deal. There might be some extra money there on the table for the little guys around a couple hundred grand by seasons end, but it doesn't seem to be making up the numbers.
What I find funny is all the years you've slammed the CART ESP program from 2003, yet suddenly the irl welfare program is a slice of genius.