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Nov 27, 2001

Clear Channel Ups 2003 Supercross Points Fund Ante

From a press release:<BR><BR>Clear Channel Announces 2003 Points Fund to be a Minimum of $500,000<BR><BR>AURORA, Ill. (November 27, 2001) - Clear Channel Entertainment's motorsports division announced today that the season-end points fund for its 2003 series will be a minimum of $500,000. <BR><BR>The upcoming 2002 series points fund payout to riders will be $325,000. Under the current sanction agreement between Clear Channel Entertainment and the American Motorcyclist Association, Clear Channel had agreed to pay $133,100 in points fund money in 2002. However, in 2002, Clear Channel Entertainment will actually pay 144% more than the agreement stipulates, bringing the total to $325,000. That amount will increase by at least another $175,000 when Clear Channel Entertainment produces its 2003 series.<BR><BR>Roy Janson, vice president of operations for Clear Channel Entertainment's motor sports division, said, "We are pleased to again demonstrate our commitment to the riders. The half million dollar mark is a major milestone in supercross history, and this is something we definitely set out to do five years ago."<BR><BR>The series points fund is paid to the top 20 riders in final series points. In addition to the series points fund, Clear Channel Entertainment will continue to award the privateer riders with the privateer points fund.<BR><BR>Janson added, "Clear Channel Entertainment will maintain its traditional support program for privateer riders in 2002 and beyond with the continuation of its privateer point fund. The fund distributes more than $100,000 annually above the posted purse and point fund payouts exclusively to privateer riders who qualify for 250cc class main events."