From a press release issued by the newly formed FGSPORTGROUP:

World Superbike Championship ownership is transferred to Flammini Group.

The Interpublic Group of Companies has transferred its interest in World Superbikes to its joint venture partners of four years, the Flammini Group. The sale includes full ownership and management rights for WSBK.

Doug Augustine of Interpublic Sports and Entertainment explained: “The championship has grown from strength to strength and we are proud of our association with the series to date. The future of the series looks bright and secure with the Flammini Brothers remaining at the helm.”

Maurizio Flammini, founder and President of the Flammini Group commented: “Our partnership with Interpublic has been highly successful and their support has been fundamental in establishing the Superbike Series on the world stage, particularly with regards to international sports marketing. We really look forward to putting much of our learning in to practice over the next development stage of the World Superbike Series.”

Paolo Flammini, President of Superbike International stated: “The support received from the IPG with regards to consolidating the Superbike World Championship on the worldwide scenario has been fundamental. I am sure that the new development stage that our leading Championship now faces, will involve many elements of value that have been acquired through four years of Joint Venture between IPG and Octagon.”

Editorial Note: IPG will still promote the World Superbike events at Brands Hatch and Silverstone through the 2004 season.