NEWS
For Immediate Release
Contact: Christopher Sperry 888 282 4872
Panoz Racing School Selects Local Racing Management Group
To Accelerate Growth Of Company At Texas Motor Speedway
FORT WORTH/DALLAS, Texas (February 07, 2003) -- Panoz Racing School has selected a Texas partnership to further enhance and quicken the school’s growth in North America by managing the company’s Texas Motor Speedway location.
Effective February 6, the local group purchased the Panoz Racing School operation at Texas Motor Speedway -- the first to be operated off-premises of a Panoz-owned facility. In addition to Texas Motor Speedway, Panoz Racing Schools are available at three other major North American racing major venues, Road Atlanta (Georgia), Sebring International Raceway (Florida) and Mosport International Raceway (near Toronto).
The new management team with a history of high performance autos and racing is comprised of Don Barnes of Dallas and Ed Schairbaum of Fort Worth. The partnership will be known as Panoz Texas LLC. The business grew out of a mutual interest in the sport. Both are racers, instructors and race team owners and also are independent local dealers for Panoz GTS race cars.
The partnership assumes all operations and management of the Panoz Racing School at the Texas Motor Speedway effective February 6.
Under the agreement and for the foreseeable future, Panoz Texas LLC also will continue to manage and operate the Texas arm of the Audi Driving Experience, which shares space and personnel at all Panoz facilities as a subsidiary of the Panoz Racing School.
According to Geoff Lee, President and General Manager of The Panoz Racing School, "From a business and student perspective, there will be no change to the level of curriculum, nor will the long-term agreement with Texas Motor Speedway be affected in any way. This will be the same Panoz Racing School location utilizing the same instructors, curriculum and licensing standards as well as the famous Panoz GT-RA, V-8 powered purpose built race cars."
Both school officials and the new management organization agree the arrangement is win-win.
"For us, the agreement," says Lee, "is the next obvious step in a plan to grow the national presence of the Panoz Racing Schools. The timing could not have been better for both sides. For the Panoz Racing School, this allows us to better serve the local market from the perspective of a local management team with terrific knowledge of the area and roots deep in Panoz Motorsports. At the same time, it allows us to grow by freeing up precious resources to explore a host of opportunities throughout North America."
Speaking for the new Panoz Texas management company, Don Barnes said, "We are flattered to have the opportunity to own and operate a Panoz Racing School location. The Panoz Racing School, Audi Driving Experience and the rest of the Panoz companies are known for being the best at what they do, whether that's the racing venues and events it owns and operates, the racing and specialty auto development divisions or the racing and driving education programs. As partners, we've experienced the entire organization and felt this was a once-in-a-lifetime opportunity to enter the racing school business with the very best,” he said.
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Panoz Racing School is a safe, active, real-life racing experience for all skill levels, and authentic in every respect -- from the Panoz GT-RA race cars to world class racing tracks on which lessons are given. The Panoz Racing Schools focus on active dynamic racing, giving students the skills and ability they'll need to pursue racing at their own speed, whether that's a pro racing career or competition at the hobby level. The Audi Driving Experience and teen safety curriculum are offered as one and two day programs for individuals and groups.
All programs begin with classroom sessions emphasizing the vehicle dynamics theory behind performance driving followed by specific hands-on exercises designed to put this theory into practice. All major sanctioning bodies for competition licenses have accredited the Panoz Racing School programs.
For more information on the Panoz Racing School or Audi Driving Experience call 888 282 4872 or visit
www.panozracingschool.com.
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