Where is the $1.8 million paid to A1GP boss Tony Teixeira?

It’s a question V8 Super-cars boss Tony Cochrane wants answered before he sits down to negotiate with event managers IMG about next year’s SuperGP motor race on the Gold Coast.

The State Government paid about $1.8 million of a total $11 million contribution for the SuperGP to the A1GP race series before they quit on the Gold Coast last month and didn’t show up.

The money went to the Gold Coast Motor Events Company and then to event managers IMG before being passed on to Mr Teixeira’s UK-based racing group.

When Mr Teixeira announced on October 17 that he would not be bringing his race to the Gold Coast, he promised to pay back the $1.8 million plus donate $50,000 to a Gold Coast charity as a sign of good faith.

“What exactly is IMG doing to collect the $1.8 million?” said Mr Cochrane.

“They (IMG) have a huge office in London so it should be a piece of cake to doorknock Tony Teixeira.

“They kept telling us they were in ‘daily contact’ with A1GP before the Gold Coast event. I really want to know when that money will be returned but I think IMG don’t want to talk about it.”

IMG spokesman and SuperGP general manager Greg Hooton said a team of lawyers were on the case.

He said the $1.8 million had not been returned and ‘the whole situation with the A1GP’ not attending the race was with lawyers.

Mr Hooton said the $50,000 A1GP organisers promised to donate to charity had also yet to be forwarded.

A spokesman for GCMEC said it too was leaving the debt collecting to its lawyers and would not elaborate on how long or how costly the process would be.

“GCMEC has placed the situation … in the hands of their legal representatives and as such no comment will be made on the process,” said the spokesman.

[source: goldcoast.com.au]