Dec 26, 2000
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Wrenchead.com CEO Gus Conrades said December 26 that Wrenchead.com is renewing its sponsorship of the Formula USA Series and will not abandon the series to sponsor an AMA Pro team put together by Jason Pridmore and Rich Alexander.
"That is the case. We are renewing the deal," said Conrades in a telephone interview from his office in White Plains, New York. "There were rumors that we weren't going to renew the series sponsorship, but that's not true. The Richie Alexander and Jason Pridmore team, that's not true, either. We decided not to sponsor any race teams. I just couldn't get my head around it in '01. I couldn't get my right value that I wanted for the race teams. We did look at a couple of proposals, and the rumor was kicking around that we weren't going to be doing the series again. The reason is, the negotiations about how much money we were going to have to pay them (Formula USA) for the series sponsorship were going on. But it's happening. We are doing the series again. That announcement should be coming out in the next couple of weeks."