PORTLAND, Ore. (KOIN) — It’s official: IndyCar racing will return to the Portland International Raceway in 2018.
City officials announced the Grand Prix of Portland will be held Labor Day weekend 2018 at PIR. The event over 3 days — August 31-September 2, 2018 — will be the next-to-last event of the Verizon IndyCar Series schedule. The agreement is set to run through 2020 with races happening each year. After that, there is an option to renew, but Wheeler hopes the series and Portland can work together for years to come.
“We know that an event of this magnitude brings in a minimum of 12 to 15 million dollars of revenue and scores of jobs as well,” Wheeler said.
It’s the first time an IndyCar race will be held in Portland since 2007, when the Champ Car World Series was held at PIR. There’s no set date on when tickets will be available, but the series expects general admission to be priced around $20. The event, because it happens at PIR, will be self-supporting, which means no tax-money will fund it. Any city functions and services will be funded by Verizon IndyCar Series, the event provider.
In a statement, Wheeler also said:
“As a young man, I had the opportunity to attend the Indy 500. I remember well the excitement and thrills that INDYCAR racing bring to a city and to race spectators. The return of INDYCAR racing to Portland will give us terrific international exposure, a great deal of revenue, new jobs, and an exciting experience for race fans.”
Green Savoree Racing Promotions will own and operate the race at PIR and hold all commercial rights to the event.
Mark Miles, the CEO of Hulman & Company which owns the Verizon IndyCar Series, said in a statement, “INDYCAR couldn’t be more excited to again race in front of one of our strongest fan bases.”
“We just kept coming back to PIR,” Miles said. “It’s a great city and a great track with great tradition in IndyCar racing.”
Between 1984 and 2007, sanctioned races from either Championship Auto Racing Teams (CART) or Champ Car World Series were held at PIR.
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