CHAMPCAR/CART: San Jose Grand Prix approved by City Council

San Jose Grand Prix Approved Today
Downtown to host Champ Car World Series in July

San Jose ---- Downtown San Jose will be the site of the San Jose Grand Prix open-wheel street race on the international Champ Car World Series in July 2005 as a result of today's approval by the San Jose City Council.

The San Jose Grand Prix, scheduled for July 29-31, 2005, will be contested around the HP Pavilion and surrounding downtown streets. It will be the eighth stop on the 2005 Bridgestone Presents The Champ Car World Series Powered by Ford schedule.

"The San Jose Grand Prix will bring world class racing excitement to our downtown streets, and it will bring San Jose to the attention of millions of people across the nation and around the world," said Mayor Ron Gonzales.

"The event will also benefit our local businesses and generate revenues that help support vital city services for our residents."

In addition to the auto race itself, plans for the San Jose Grand Prix call for a week of activities including concerts, fairs, charity events and promotional activities. The festival is expected to draw hundreds of thousands of fans to Northern California's largest city and become a mainstay on the Champ Car World Series calendar.

Under the proposal, the City and the San Jose Redevelopment Agency will invest $650,000 toward the $3 million infrastructure costs to install and remove barriers, equipment and street improvements needed for the race.

Over the next ten years, revenues from the event would repay the public investment with interest. Event revenues and Canary Fund Enterprises would pay the balance of the project cost.

Canary Fund Enterprises, an affiliate of Canary Fund, will produce the San Jose Grand Prix. Canary Fund, founded by Don Listwin, is dedicated to advancing the science of the early detection of cancer.

"On behalf of Canary Fund, I thank Mayor Ron Gonzales and the city council for their support of this project," said Listwin. "The San Jose Grand Prix will provide Canary Fund with an exciting platform to raise awareness and money for its unique new approach in the battle against cancer."

Canary Fund collaborates with cancer research centers including the Stanford University Medical Center in Palo Alto and the UCSF Comprehensive Cancer Center in San Francisco. Canary Fund was also recently announced as the "Official Social Cause" of the Champ Car World Series.

"Today the city council has made a decisive statement in favor of bringing a historic event to the City of San Jose," said Bob Singleton, San Jose Grand Prix General Manager.

"The San Jose Grand Prix will be much more than a race. It will be a weeklong festival of activities that will generate significant revenue for the local community and businesses. Whether you're a fan of racing or not, I guarantee that people throughout Northern California will put this week on their calendar as a 'must-attend event.'"

The Champ Car World Series features some of the greatest racecar drivers in the world competing in the most diverse and exciting series in the world. Champions Sebastien Bourdais, Jimmy Vasser, who hails from the Bay Area, and Canadian Paul Tracy along with 2004 Roshfrans Rookie of the Year A. J. Allmendinger, who was born in Los Gatos and resides in Hollister, are among the drivers who battle for the Vanderbilt Cup, which is awarded to the winner of the Bridgestone Presents The Champ Car World Series Powered by Ford.

In addition, Mexican drivers Michel Jourdain, Jr. and Mario Dominguez will compete among an expected 18-car field. The title is contested on oval circuits, temporary street circuits and permanent road courses in 15 cities in the United States, Mexico, Canada and Australia.

-Office of Mayor Ron Gonzales