TSN is reporting that the deadline for Andretti Green Racing to purchase the open-wheel race at the CNE grounds has been extended by two weeks:
"The deadline to bring an Indy Racing League event back to Toronto has been extended by another two weeks.
Andretti Green Racing, which is interested in buying the rights to a race in Toronto, said in a press release Thursday that said the IRL team and Grand Prix Association of Toronto have agreed to extend the closing date on staging the race to May 15.
"The additional period is needed to allow both parties time to meet certain obligations related to the completion of purchase agreements," the statement said.
"The terms of the agreement will not be disclosed and neither party will be offering furthercomment."
The annual Toronto race was taken off the schedule this summer after Champ Car was absorbed into the IRL earlier this year. There have been indications that various government agencies will be asked to kick in additional support if the sale is to go through.
According to reports, Andretti Green Promotions discovered that the event was running a $2-million deficit and want someone to step in and cover the shortfall before they sign off on a deal."
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