LG Motorsports

Hi Guys,

We are planning on going to Mid Ohio to run the Grand AM Rolex race with out Corvette.
This is the same car that we ran last year.

I am still looking for a co driver and lots of people said we should get Danny Popp in the car with me.

That would be great for Danny and for the Corvette forum.

BUT, racing is not free and Danny doesn't have the money available to do it. I can't put the $$ up for him either since we are not sponsored this year.

So, if there are any of the Corvette Forum members who have the $$$ or if you can get a few of you together to find the money to put Danny in the car, that would be a great thing. Danny has contributed to the forum and this might be a good way to help him show his stuff.

Mid Ohio is a home track for Danny and one of my last World Challenge races, I led from start to finish.

So, if any of you have any ideas, Contact me at LGM or danny directly and we can get this going.

Time is short, so this has to be a 1 week effort to get danny in the car.

I have one other driver with the funds, but Danny and I talked and I suggested this.

Just so you all know, we are talking to one other forum member about this already, so it has to be a quick deal.

What do you think?

Thanks
Lou Gigliotti
LGM

THIS IS THE CAR THAT WILL RUN THE EVENT BELOW:


-

JohnAlley

How much are you trying to raise??

LG Motorsports

$35,000. and that does not cover the entire cost but it will pay for the seat.

6 sets of tires = $12,000.

$300,000 Race car (per race amortization)

Entry fee $3500

1 time crew passes @ $145 each = $1450

10 crewmen (most are paid) $6000

Data Engineer = $?????

Hotels: $3600

Travel for crew and transporter etc = $7000 (includes Diesel, airfares, Crew truck etc.

Transporter insurance, DOT permits, fuel tax, $175,000 transporter rig and tractor Amortized over 3 years

Rental cars for 3 days x 3 days $600

Food
drinks
Transmission rebuild
Brakes
Rotors
Engine per race cost
Race gas
PREP time at LG Motorsports
and everything else I forgot to mention

Thanks

Lou gigliotti

PS, Isn't racing fun

mrc24x

Put me in for $1000 + airport shuttle service (me driving them in an SUV) from CMH to Mid Ohio. And a house 1 hour from the track if needed.

I can replace one of the "gopher" crew members for free also.

I know it's not much but hopefully it's a start....

Next 34 members please step up

ScaryFast

Anyone heard of Ken Smith?

mrc24x

85 views already.......$400/ each to make it happen.

Kubs

I would love to support/watch Danny race in Grand Am, but as of right now Im not sure where next weeks groceries are coming from. That is why my car has been sitting dormant since May 2010...

drivinhard

I am broke but I would pitch in a couple of hundred. I probably owe Danny that just from the phone time bothering danny with tech questions

Axelrod

Lou, the asking price for the seat is what you're asking. You can ask any price because it's your team and your car(s). High or low, it's your perogative to ask anything that you want.

Are you open to lowering the price by about $25k ? Hear this out; you've listed an amortized value of the racecar without actually showing the amortized value (per period or per race). I think we could agree that the car has an indefinite life. So, there really is no way to place an amortization schedule on this tangible asset (only the re-sale value).

I think you meant to state that $300k is the cost of the car (probably full replacement value?) You didn't list the actual amortized cost per race. I think you meant to divide the actual cost of vehicle replacement divided by the useful value (pick your term in years or races as a divisor) and calculate from there. Obviously, the amortized value of selling the seat of the car should only be a fraction of the total cost of the car.

Anyhow, throw all of the above out the window. Amortized value doesn't do anything for LG if you have a total loss. And, an amortization value of an intangible asset (the actual value of the car is up for negotiation due to the limitless number of hours it would take to build an equal). So, since the car is an intangible asset and cannot be accurately appraised at a fixed value-- we're open for negotiation, correct? After all, the car is one of only a few in the world, correct?

How can we make the deal more palatable for both parties? My contribution to this is that I'll assist in insuring RAFT for the seat. If Dan is able to bring a policy to the table that covers physical damage to the car; the seat price should be reduced (in my opinion) by approximately $25k. He'll no longer be responsible for wear and tear on the car (that happens either way). The more appropriate way to handle the value of the car is to see that you are reimbursed accordingly should there by any racing "incidents". The right way to do this is by underwriting a negotiated value of the car.

Have you sent a copy of the seat contract to RAFT HQ? I'll need a copy of the contract ASAP to get this rolling.

63Corvette

Lou, this appears to me to be a pretty important counter-offer. I would carefully consider it.

LG Motorsports

I put the cost of the "amortization" in just to make a point.

You are correct that I could do it for FREE if I decided to pay for everything listed myself.,,,NOT

The raw costs will far exceed the $35k.

We usually have two drivers putting in $35k and we lose money.
I took in $650,000 last year and still had to put in $147k of LGM money and I didn't get to drive one race myself. AND we only did 8 races. Do the math. (100k per race but we did have 2 full time dedicated crew members.)

I just built a new Grand Am engine. It is on the dyno in North carolina as we speak. we will have $20,000 out of pocket just to get a 2011 spec engine built, shipped and tuned with the 73mm restrictor in it.

So the number is already low considering the out of pocket expense. I am footing the rest because I am taking the other seat. (2:45 race time) 2 hour, 45 minute race length.

Trust me with just raw costs, this is a money losing proposition.


I didn't even put a price on these items

Food

drinks

Transmission rebuild-- Change gears (buy gears if we don't have them) then EMCO has to mag the tranny every 3 races. (nothing is free, which means I have to pay)

Brakes Rebuild every race or replace calipers every 5 races @ $6k per set of 4

Rotors and hats

Engine per race cost (every three races, new pistons, springs, valves, block prep machine work and whatever. we usually spend $10k per rebuild) Nothing is free in racing

Race gas - Grand Am Spec gas must be purchased at the track around $10/ gallon

PREP time at LG Motorsports I have to add extra payroll and overtime to get this done.
and everything else I forgot to mention


Again this was just an offer for Danny to get a ride in a good Grand Am car. You guys are correct that Danny has put out a bunch for the forum members. So has LGM but again, this is a rare opportunity that I can say, has never been offered before from anyone for a pro ride to a dedicated forum member and hard core racer.

So I hope that it can come to fruition. If it can not, then I have two other options. Put in one of the two funded drivers that i have been talking to.

OR, Skip the race altogether since money does not grow on trees.

DID you know that the ecomony is SOOOO bad that General Electric had to lay off 25

CONGRESSMEN!!!

Thanks
Lou Gigliotti

Z06Fix

I would love to see Popp get a chance at running a well built pro car. I hope you guys can work this out.

Axelrod

RAFT crew members will perform all setup, track-side support and will bring all necessary tools, pit cart(s), etc. (including scales if need be). No LG costs will need to be accrued trackside; other than getting the car to the track. Trackside consumables will be paid for by RAFT (no problem getting everyone to chip in there), right fellas?

Everyone is aware of Dan and crew's winning record and experience; so, I hope this is not an issue? Oh, and we'll bring our own grille and burgers and so forth in support of the entire team effort. Two cars on the podium would be

Some of the pricing summary is a bit over-embellished seemingly in an attempt to make your point that racing is an easy way to take large fortune and turn it into a small one. No disagreement there! Though, replacing is easy, rebuilding is less expensive and can still achieve the desired result. No one is discounting that LG has done tremendous in years gone by in WC and so forth. However, these particular cars have not been on the podium in the Rolex series since??

So, the price is down to $20k ?

ZoomFreakinZoom

The best part is, $35k for a GT seat is a steal, we used to charge $45K+insurance.

Axelrod

What, is that the Dempsey surcharge?

ZoomFreakinZoom

Haha, no that's the price of being in the same room as him... a ride is another $40k.... not . I want to say TRG is $60k a race. Farnbacher Loles was $60k as well. Now I guess he gets paid in cigarettes.

LG Motorsports

Guys,

With all due respect, I am xxxxxxxxxxxxxxxxxxx. I hope we can figure out a way to get this done. Keep in mind that the price is $35k which is a bargain. that means that I am footing some of the bill already.


Thanks

Lou Gigliotti

Axelrod

Sorry Lou, didn't mean to cause any consternation. We already have $10k+ in private sponsorship. If things were to get more serious, I have no doubt that the additional $10-15k would not be an issue.

Would be great to see an LG cars qualify P1 and P2

BFoster

would be neat to see the hometown hero get a chance at this, but pointing out flaws in a car/team and arrogance won't help him get that chance i wouldn't think!

Lou, any sponsors in the works for next season???

LG Motorsports

Sorry guys,

If there is a serious effort to help put Danny in for real, then just call me.

2012, at this point is totally up in the air. We are planning on doing the Indy Brickyard 400 Grand Am race on the F1 track for sure.

Again, if there is a real effort to put Danny in the car, let me know by calling LGM.

Thanks

Lou G