Matt Trulio
Contributor
http://www.boats.com/boat-content/2010/02/geico-sues-super-boat-international/.
I'll continue to follow this story as it develops.
I'll continue to follow this story as it develops.
Headlines
Geico Sues SBI
- Thread starter Matt Trulio
- Start date
Geronimo36
Charter Member
Interesting..... Is that why Geico choose to do SBI races last year as opposed to some of the OPA events?
GEICO changed a significant portion of their schedule last year as soon as the SBI TV deal was announced. I would think that the 150k might be just a small portion of what they spent in anticipation of CBS TV coverage.
Ratickle
Founding Member / Super Moderator
I wonder what the final deal was. Geico ran almost every SBI race after the TV announcement. I believe they even missed some of their own triple crown events due to conflict.
Attorneys for Geico filed the case over the payment of $150,000 by Geico for CBS television coverage of SBI races.
Geico’s complaint against SBI alleges:
“On August 20, John Carbonell, as president of SBI and Deana Carbonell, as vice president of SBI made false representations regarding the Miss Geico Racing Team boat participating in races organized by SBI. At that time, it was represented to the Plaintiff that the SBI races would be shown on CBS television on Saturday afternoons from October, 2009 through December 2009. Additionally, Geico was provided with a press release regarding the fact that SBI racing would be broadcast on the CBS Television Network.
Attorneys for Geico filed the case over the payment of $150,000 by Geico for CBS television coverage of SBI races.
Geico’s complaint against SBI alleges:
“On August 20, John Carbonell, as president of SBI and Deana Carbonell, as vice president of SBI made false representations regarding the Miss Geico Racing Team boat participating in races organized by SBI. At that time, it was represented to the Plaintiff that the SBI races would be shown on CBS television on Saturday afternoons from October, 2009 through December 2009. Additionally, Geico was provided with a press release regarding the fact that SBI racing would be broadcast on the CBS Television Network.
FYI
Court info:
http://courtcon.co.palm-beach.fl.us/pls/jiwp/ck_public_qry_doct.cp_dktrpt_setup_idx
Case ID: 502010CA004746XXXXMB
Court info:
http://courtcon.co.palm-beach.fl.us/pls/jiwp/ck_public_qry_doct.cp_dktrpt_setup_idx
Case ID: 502010CA004746XXXXMB
LaughingCat
New member
Let me see if I have this correct: SBI makes a deal with CBS to carry the races, etc on a weekly basis.
(Normally, networks pay the promoters for the rights to carry the races, but in this case, it sounds like SBI had to pay CBS to carry the races. That's curious.)
SBI was behind on their payments most likely because they lack the money. SBI gets Geico to make a generous contribution, most likely to get featured airtime on the CBS programming. However, SBI doesn't use the money to shore up their obligation to CBS (which still doesn't make sense.). Now Geico, who like anyone, can turn on a TV and see that the races were not broadcasted, finds out that SBI never paid CBS. So Geico has to sue SBI. Does this sound like an accurate depiction?
I'm not making any speculations, just trying to understand the flow.
(Normally, networks pay the promoters for the rights to carry the races, but in this case, it sounds like SBI had to pay CBS to carry the races. That's curious.)
SBI was behind on their payments most likely because they lack the money. SBI gets Geico to make a generous contribution, most likely to get featured airtime on the CBS programming. However, SBI doesn't use the money to shore up their obligation to CBS (which still doesn't make sense.). Now Geico, who like anyone, can turn on a TV and see that the races were not broadcasted, finds out that SBI never paid CBS. So Geico has to sue SBI. Does this sound like an accurate depiction?
I'm not making any speculations, just trying to understand the flow.
Fast Shafts
Competitor
Laughing Cat-I think you nailed it.
rchevelle71
New member
LaughingCat
New member
That makes perfect sense. It's just a shame our sport is not yet at the level where the networks would pay to cover it.
Please don't anyone throw mud at me for saying this, but. . .maybe the outcome of a situation like this will be the consolidation of the offshore racing scene so the marketing efforts can be focused to produce a higher level of awareness among potential fans.
Sean H
Charter Member
Not unusual, especially for fringe sports. Geico (among others) is paying Versus to carry this season. No network in their right mind would pay for offshore racing right now.
LaughingCat
New member
Should make for an interested handshake photo op after their victories.
Sean H
Charter Member
Verses "VS" Channel on Cable/Satellite. Good catch.
no catch needed.... :sifone:
http://www.versus.com/
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