The Wisconsin State Fair Park board has reached a tentative agreement with a potential new promoter for the financially troubled Milwaukee Mile racetrack, but the track's future hit a speed bump when it wasn't included on the 2010 IndyCar series schedule.
MILWAUKEE (AP) -- The Wisconsin State Fair Park board has reached a tentative agreement with a potential new promoter for the financially troubled Milwaukee Mile racetrack, but the track's future hit a speed bump when it wasn't included on the 2010 IndyCar series schedule.
The board announced Friday that it had executed a letter of intent with a promoter for the historic track, opening a two-month period for the new group to show that it has the financial resources needed to keep the track running.
The promoter was not named but will be introduced at a news conference Monday.
Despite the board's step toward assuring the track's future, IndyCar series officials announced their 2010 schedule Friday -- and Milwaukee wasn't on it.
The track's traditional race date, the first Sunday in June, was left open. IndyCar commercial division president Terry Angstadt downplayed the track's chances of getting on the 2010 schedule, but said officials were open to going back to Milwaukee in the near future.
"It's a historic venue," Angstadt said. "We would love to be there. We were not able to do that in time for this announcement or for this schedule."
The State Fair Park board voted last week to end its partnership with promoter Wisconsin Motorsports, which is believed to owe NASCAR and the IRL several million dollars.
NASCAR has not yet announced its 2010 schedule, but is expected to do so within the next month.
The Milwaukee Mile, in operation since 1903, bills itself as the oldest operating racetrack in the U.S.
(Copyright 2009 by The Associated Press. All Rights Reserved.)