Company associated with Corsa Motorsports files Chapter 7
Rampante Motorsports, LLC (Sandy, UT) filed for Chapter 7 Bankruptcy on January 29 in US Bankruptcy Court in the District of Utah. Chapter 7 governs the process of liquidation under the bankruptcy laws. Rampante and Corsa Motorsports share an address at 3963 East Alpine Valley Circle, Sandy, Utah. The copyright for Corsa Motorsports’ website is held by Rampante Motorsports, LLC.
“I am Henri Zogaib and I am a Grand Am Driver”
Ponzi-perpetrator Zogaib was finally arrested the other day on fraud charges. As Murphy reported last year, it’s believed Zogaib took money from 19 investors with the promise of large returns. Instead, he used the money to fund a lavish lifestyle that included racing in the Grand-Am Rolex Sports Car Series. He is being held on $100,000 bail. “I have a judgment against him for more than $600,000,” former Champ Car driver and Zogaib driving partner Ryan Dalziel said, “but that doesn’t mean I’ll ever see any of it.”
Zogaib’s claimed his close friendship with an iron ore magnate would help his victims make a quick 38-percent return. Law enforcement thinks Zogaib cost his customers at least $5 million, but Dalziel said he expects the figure is closer to $30 million.
Others who invested include NASCAR driver A.J. Allmendinger, Samax team owner Peter Baron and fellow Grand-Am driver J.C France, son of Grand-Am founder and NASCAR executive Jim France. Zogaib co-drove with France, and with Paul Tracy, Allan McNish, Mike Rockenfeller and Lucas Luhr. He was listed as the car owner for the Michael Shank Racing Riley-Lexus.
Cutting the Cheese
The American Le Mans Series announced an “official cheese” the other day, when New York-based cheese giant Yancey’s Fancy. No word if Yancey’s will have the impact of G-Oil and Mikimoto.
Speaking of “impact,” this paragraph in AutoWeak’s on-line story about Patrón’s new ALMS “presenting sponsorship” disappeared mid-morning Tuesday:
“The ALMS did not disclose financial terms, though one source suggested the series will receive $250,000 per year paid in several annual installments. However, as with many such sponsorship agreements, its true value will be measured by the way Patron markets the series and its involvement.”
Other Bear sources said a $500,000 figure had been mentioned, but didn’t know the duration of the payments. Either way, it’s not an agreement that will directly support teams or increase purses, as does the IRL’s deal with Izod. (In fact, this season’s Sebring purse is smaller than last, while entry fees are substantially increased.)
Murphy hopes the vague references by Series officials to “agressive activation” mean we’ll see a more effective marketing program.
US F1 “In limbo” says source
Murphy’s learned that US F1 management was told as early as October the team would be hard-pressed to field a car by F1′s March 14 deadline. Ken Anderson’s continued “micro-managing the smallest of details, second guessing production and design department staffing needs, calling for endless design revisions, and simply not letting the design staff get on with the task at hand,” is a key cause, the Bear’s been told.
Some employees and managers have lost faith in Anderson’s ability to manage the company, and the team has ground to a halt with no work currently on-going. The attitude on the shop floor is said to be “listless and just short of mutiny.”
Unfortunately, potential investors may be hesitant the provide needed support absent a management change, and principal Chad Hurley has not intervened to rescue his investment.
“But because of the stubbornness of one individual, USF1 will continue in limbo until it dies,” said a source on condition of anonymity. “It has no chance while Anderson is still here. And it’s shame, the team has really come together and there’s a sense of camaraderie throughout the organization barring one person. This will be the greatest disappointments of my career if that’s the way we go down. I think some soul searching needs to be happening in the front office. Falcon 2 this is being called.”
Earlier today, Motorsport Total.com, in Germany published an extensive anonymous interview with a source inside US F1 at Charlotte that supports what Murphy has learned in every detail. Here is the Google translation.
It seems whatever future US F1 has without Mr. Anderson, it has none with him.
Tags: Allan McNish, Chad Hurley, Henri Zogaib, J.C. France, Ken Anderson, Michael Shank Racing, Patron, Paul Tracy, Ryan Dalziel, Yancey's Fancy
Oh my Gawd! What a mess.
I guess this proves the old adage: Speed costs money, how fast do you want to go?
What a mess…
No I believe it proves that, white collar crimes are starting to be taken seriously in this country. There is still a double standard and White Collar crimes do less time but cost the tax payers millions more dollars than Street Crime does.
Who cares it just the rich stealing from the rich aka pushing paper.
Seems USF1 no longer needs the services of “Mr. Anderson”, does that mean USF1 actual move to Spain and run its operation there? Seems to me Anderson owns all the buildings currently housing USF1 and I’m sure he’s looking for a juicy payoff for breaking its leasing deals.
That’s why there’s reluctance to push him out currently, we’ll see how badly Mr You Tube wants go racing.
Lease costs are peanuts. Building is for sale by its owner.
Mr YouTube gonna but up 7 figures this year, so he can race next year?
Has this has turned into more of a farce than even you believed Mr Bear?
Murphy hears the idea of ‘good-faith cash’ now to hold a spot for next year has been floated.