No Nitro for SuperGP

Written on the 9 September 2009

No Nitro for SuperGP

AFTER weeks of speculation, the future of the Super GP has hit the skids after naming rights sponsor Nitro reneged on its financial obligations.

Gold Coast Motor Events Company (GCMEC) has terminated the naming rights agreement with the energy drink manufacturer because of its failure to make payments. GCMEC general manager Greg Hooton is in a tailspin to find a replacement just two months out from the event.

Nitro Energy Drink joint managing director Matt Nielsen is not returning calls. Ironically, the company's tagline is 'go hard or go home'.

But the Opposition has been quick to pounce on the issue, saying the Minister for Sport Phil Reeves has had to shift into reverse gear just 12 days after claiming all was well with the event.

“During the last sitting of parliament the Minister assured me that due diligence had been followed and that the image of the event had been enhanced by the naming rights sponsor,” says LNP spokesman for Sport Jack Dempsey.

“Now he has told us that the sponsorship deal has crashed and burned before even getting to the starting grid. This government’s attempt to run a motor sport event on the Gold Coast has been a wreck.

“First they lost the champ cars and now the Minister is trying to tell Queensland motor sport fans and Gold Coast residents that losing a naming rights sponsor is no big deal.
“The Minister told parliament the terminated agreement had little financial impact on the event – if this is the case, you have to wonder what the SuperGP was getting in return for the honour as naming rights sponsor.

“The Minister for Sport needs to get his act into gear and make sure this show gets on the road.”


Latest News

TECHNOLOGYONE SAYS IT WILL SUE BRISBANE CITY COUNCIL FOR $50M IF IT TERMINATES CONTRACT

ENTERPRISE software company TechnologyOne (ASX: TNE) has threatened to sue Brisbane City Council (BCC) for more than ...

WESTPAC LOOKING TO SELL HASTINGS TO CHARTER HALL

Westpac Group (ASX: WBC) has entered discussions with property investment group Charter Hall (ASX: CHC) to sell Ha...

THE CYBER SECURITY FIRM THAT HAS MELBOURNE AND SYDNEY BATTLING FOR ITS BUSINESS

ISRAELI cyber security firm Votiro will decide where to set up shop in Australia in the next few weeks, with both ...

IF YOU LOSE YOUR MOJO, YOU LOSE YOUR BUSINESS: GLEN RICHARDS

HE'S one of the "sharks" on the hit show Shark Tank and Dr Glen Richards deals with startups and sca...

Related News

TECHNOLOGYONE SAYS IT WILL SUE BRISBANE CITY COUNCIL FOR $50M IF IT TERMINATES CONTRACT

ENTERPRISE software company TechnologyOne (ASX: TNE) has threatened to sue Brisbane City Council (BCC) for more than ...

WESTPAC LOOKING TO SELL HASTINGS TO CHARTER HALL

Westpac Group (ASX: WBC) has entered discussions with property investment group Charter Hall (ASX: CHC) to sell Ha...

THE CYBER SECURITY FIRM THAT HAS MELBOURNE AND SYDNEY BATTLING FOR ITS BUSINESS

ISRAELI cyber security firm Votiro will decide where to set up shop in Australia in the next few weeks, with both ...

IF YOU LOSE YOUR MOJO, YOU LOSE YOUR BUSINESS: GLEN RICHARDS

HE'S one of the "sharks" on the hit show Shark Tank and Dr Glen Richards deals with startups and sca...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter