INDYCAR, the governing body of the Verizon IndyCar Series, issued the following statement regarding the cancellation of the Brasilia Indy 300 in the capital city of Brazil:

Today’s announcement by BAND that the March 8 INDYCAR race in Brasilia was cancelled was both unexpected and disappointing. INDYCAR had received every indication that the race was already a success: Two-thirds of the seats available for the event had already been sold; a title sponsor for the event (ITAIPAVA) was announced yesterday; hospitality was sold out; and track construction was progressing and scheduled to be complete in time for the event.

Although we have not received formal confirmation from our partners in Brazil regarding the cancellation, economically INDYCAR is protected and the paddock is protected from such action.