[Source: Toyota Grand Prix of Long Beach press release]
LONG BEACH, Calif. (April 2, 2014) – The Grand Prix Association of Long Beach has been informed that the Long Beach City Council is proposing a three-year extension to the current Toyota Grand Prix of Long Beach agreement, extending the contract through 2018.
Final approval of the amendment will go before the City Council in open session in the next few weeks. The Grand Prix Association has also been informed that simultaneous with the granting of the extension that the Council has instructed City management to enter into the RFP (Request for Proposal) process to determine whether to continue with the Grand Prix Association running Indy cars or to switch to Formula One after 2018.
“We think this is a wise decision by the City Council,” said Jim Michaelian, president and CEO of the Grand Prix Association. “It affords the Grand Prix the opportunity to continue to conduct the #1 street race in America while allowing the City to explore another alternative. In the end we are confident that the City will conclude that the partnership it has had with the Grand Prix Association is the most beneficial from every perspective and we will continue to conduct the event in Long Beach for many more years to come.”