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Apr 21, 2001

AMA May Plan To Sell Pro Racing Subsidiary To Investment Group For $30 Million

AMA Pro Racing (aka Paradama) CEO Scott Hollingsworth has openly discussed the possibility of selling AMA Pro Racing's "properties" (as he refers to the various AMA Pro Racing series) as a package to an investment group, and has mentioned $30 million as the sales price, a reliable source said Saturday.<BR><BR>Hollingsworth made the revelation while interviewing candidates for the new position of Director of Commercial Development for AMA Pro Racing, and named, as an example, a prominent Wall Street firm with no motorsports experience, the source said.<BR><BR> was unable to contact Hollingsworth for comment at post time.<BR><BR>No indication was available as to why Hollingsworth would consider selling to an investment firm with no motorsports experience instead of talking to SFX Motor Sports, whose executives have expressed strong interest in buying AMA Pro Racing outright. SFX runs most of the events in the wildly successful AMA Supercross Series and also owns road racing promoters Formula USA and CCS.