CANADIAN OWNERSHIP GROUP BUYS MOSPORT INTERNATIONAL RACEWAY

TORONTO, June 1, 2011 /CNW/ – Canadian Motorsport Ventures Ltd., established by famed Canadian racer Ron Fellows, transportation industry leader, Alan Boughton, and real-estate developer Carlo Fidani, today announced the company’s purchase of Mosport International Raceway. Taking over from the Panoz Motor Sports Group, the new owners will build on Mosport’s storied history and respected reputation to create new and exciting opportunities for race fans, corporate partners and drivers on an international scale.

Recognized as Canada’s Home of Motorsports, Mosport is the country’s largest automotive performance and racing facility, and has hosted almost every class of road racing on its famed 3.96 km circuit, including Formula 1, IndyCar, sports cars, stock cars, endurance racing, motorcycles, motocross, showroom stock, historic vintage racers, “Big Rig” trucks and karts. Under the new leadership, Myles Brandt will continue to serve in his role as President and General Manager at the facility.

“We want to thank the Panoz Motor Sports Group for making Mosport what it is today – a world class racing venue that hosts some of North America’s best road racing series and a place of inspiration for generations of racers in Canada,” said Alan Boughton, Managing Partner, Canadian Motorsport Ventures, Ltd. “We are excited to pour our racing passion and business expertise into Mosport and look forward to working together with local government and tourism authorities to take this historic race facility to the next level in delivering the best excitement and entertainment motor racing has to offer.”
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