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Feb 10, 2009

Corona Extra Honda Racing Issues Statement Regarding Jake Holden Situation

Corona Extra Honda Racing is extremely disappointed that Jake Holden's manager, Mr. Michael Murphy, has chosen to mischaracterize in the press what transpired between Jake and the Team.

The facts are Jake, through his attorney Alessandro Assanti, resigned from the team in writing on December 7, 2008. His resignation came without following formal procedures as stipulated in his contract. Jake received full payment in 2008 for his services.

Corona Extra Honda Racing made every effort to convince Jake to remain on the Team but received no response from him or his attorney. Corona Extra Honda Racing was placed in the position of having to fill Mr. Holden's spot and accepted his resignation. Thereafter Mr. Murphy, in his first communication to the Team indicated that Jake's plans to ride elsewhere had changed and he wished to remain with Corona Extra Honda Racing. Unfortunately for Jake and the Team there was no spot remaining. Attorneys for both sides mutually agreed that the matter was closed.

The Corona Extra Honda Racing Team wishes Jake nothing but success in his future racing career.