Geico Sues SBI

[Sean H]

Were they ever going to race SBI to begin with?

the preliminary SC schedule includes SBI.

 

[LaughingCat]

Considering Team Geico put out a press release earlier this month that Team Qatar would be based out of Geico's faciliy, one would assume Team Qatar is going to follow Geico's lead.

 

[Slandrew]

Tim Sharky don't bite thats for sure:seeya:

 

[Ted]

Tim Sharky don't bite thats for sure:seeya:

That's not what Mrs. Sharkey said :sifone::sifone::sifone:

 

[Caincando1]

I sure hope this doesn't put a bad taste in Geico's mouth and they decide to spend their money else where.

 

[Steve Miklos]

I sure hope this doesn't put a bad taste in Geico's mouth and they decide to spend their money else where.

That is one of my fears.
Steve

 

[Steve Miklos]

Hi Steve,

I will respectfully disagree that this will hurt the sport. . . in the long run. This has a strong chance to be the catalyst for revolutionary change in the structure and public awareness of the sport. This focuses around a TV deal, something we haven't been able to capture on a growing national level before. If offshore racing is to truly reach the fans that cannot attend the races, then we should support anyone who is actively pursuing the cause.

The fact that no one pursued legal recourse in the Mercury Racing/ABPA deal doesn't mean Geico should ignore this situation.

The fact is, GEICO is saying 'enough' to the years of “gimmicks” and fraud cast upon the racers. I believe TEAM GEICO is standing up for all the racers as they have done in the past. I understand there are many gimmicks that have been promised to the racers, many of whom have given financial support, only to see the promises evaporate and replaced by the next gimmick. (I don't want to speak for them, and they are certainly welcome to share past incidences.)

But this case could likely be the OJ Simpson trial of the offshore racing circuit. And by that, I mean a trial that teaches everyone if they see a racing promoter hoping a wall in the middle of the night and throwing gloves in the bushes, we may not want to simply turn the other cheek. (Or give them a free White Ford Bronco.)

Our sport deserves better and at least TEAM Geico is standing up for all racers to give everyone a better operating and racing environment.

Respectfully,

Jon

I am not saying Gieco should ignore the situation. I am saying the racers would not hold Mercury Racing to the same standard as they are SBI.

The LLC could have pursued Mercury Racing but that does not sit well with potential sponsors and would have hurt the sport more.
Steve
Steve

 

[jeff1000man]

:toetap05:

 

[Wazzup Racing]

From what I have been told the 750/quatar boats will attend Ocean City, Sunny Isles, St Clair, Atlantic City, Orange Beach. Anywhere else I do not know.

 

[RACESDAD]

well, the full extent of this is still in the shadows.
368 skater for sale !!!!!!

 

[rainmn]

From what I have been told the 750/quatar boats will attend Ocean City, Sunny Isles, St Clair, Atlantic City, Orange Beach. Anywhere else I do not know.

Good to hear. I'll be looking forward to seeing them at least in AC, probably Ocean City too.

I don't want to hijack this thread, but is there going to be a Pt. Pleasant race this year?

 

[MarylandMark]

I don't want to hijack this thread, but is there going to be a Pt. Pleasant race this year?

Nope

OPA 2010 RACING SCHEDULE
OCEAN CITY MARYLAND-MAY 28TH-30TH
SUNNY ISLES BEACH FLORIDA-JUNE 11TH-13TH
HARRISON TOWNSHIP MICHIGAN-JULY 16TH-18TH
ST CLAIR MICHIGAN-JULY 23RD-25TH
PATCHOGUE LONG ISLAND NY-AUGUST 20TH-22ND
ATLANTIC CITY NEW JERSEY-SEPTEMBER-10TH-12TH
CAMBRIDGE MARYLAND-SEPTEMBER-24TH-26TH
ORANGE BEACH ALABAMA-OCTOBER 19TH-24TH

 

[Coolerman]

I sure hope this doesn't put a bad taste in Geico's mouth and they decide to spend their money else where.

:iagree:

I hope not...... Geico has done alot for this sport and hope to see them continue with it. Would be a crying shame if they left.

 

[Slandrew]

Others have came and gone and boat racing still exists!I do like the team but don't know the politics involved?

 

[SHARKEY-IMAGES]

it is possible that SBI had others who commited and let them down. It takes much more than $150K for a TV package.
Steve

I wouldn't see how that would be another Sponsor's fault if others committed to SBI and did not pay their share. The contract was not with the other Sponsors, it was with SBI.

$150,000 was only the 1st payment.

Another $150,000 was to be paid by Geico after the 1st race was aired on CBS Sports.

Obviously none of the races made it to CBS Sports leaving the Miss Gieco Racing team to answer to their number one Sponsor "GEICO" as to why there was nothing on TV as promised.....

GEICO "The Company & Sponsor" filed the suit to retrieve their $150,000 plus.

 

[Wahoo 214]

Where's Dare Devil on this?

 

[AugiePensa]

Serious has had a great relationship with both GEICO and OPA since it's inception. Obviously we hope that will continue into the future and we will party where our members are, as hard as we can:sifone:

Yes, Geico and Serious Offshore have supported OPA/The Jersey Boyz for a long time and We Thank You Guy's. Get ready, Big Boat Races this year, Lotta People Gonna Be There.

 

[mikey]

Serious has had a great relationship with both GEICO and OPA since it's inception. Obviously we hope that will continue into the future and we will party where our members are, as hard as we can:sifone:

We will work even harder now as this moves forward into the TV we want our Serious Boys with us all the way!!!!

 

[Steve Miklos]

I wouldn't see how that would be another Sponsor's fault if others committed to SBI and did not pay their share. The contract was not with the other Sponsors, it was with SBI.

$150,000 was only the 1st payment.

Another $150,000 was to be paid by Geico after the 1st race was aired on CBS Sports.

Obviously none of the races made it to CBS Sports leaving the Miss Gieco Racing team to answer to their number one Sponsor "GEICO" as to why there was nothing on TV as promised.....

GEICO "The Company & Sponsor" filed the suit to retrieve their $150,000 plus.

I have no particular knowledge of any details.

I can tell you that a large part of TV cost is collecting the footage and post production of the footage. All of this money is spent before you air a show. Knowing the LLC's Speedvision budget I would have to assume this CBS effort was going to take $1M+ in revenue to fund. It would appear that more sponsors than Gieco should have been funding it.
I have no idea what was spent where or any other details. I do believe in most any scenario Gieco should get a refund. Talking about this on here is not going to make any company get excited about purchasing advertisements or sponsorship in Offshore Boat racing.
Steve

 

[Matt Trulio]

Steve,

While I don't believe in beating a dead horse and at this point there is no fresh news on this subject to report, I don't believe that "talking about it on here" has an effect, one way or another, on potential advertisers or sponsors in offshore racing.

This lawsuit is hardly secret—it's in the public record. I'm not that sure advertisers and sponsors check the message boards before making marketing decisions. I do believe they do their due diligence. I just don't think they do it here.

From what I've read in this thread, people have kept the discussion civil and reasonable. And whether or not the discussion continues, I applaud that.