Title
Approve and authorize the Monterey County Laguna Seca Representative to execute Amendment No. 1 to the Sanction Agreement executed on June 14, 2021 between the International Motor Sports Association, LLC, and the County of Monterey for a race competition event at WeatherTech(r) Raceway at Laguna Seca with a 2024 sanction fee of $520,000 for an aggregate not to exceed sanction fee of $1,970,000 over the term of the Agreement.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
Approve and authorize the Monterey County Laguna Seca Representative to execute Amendment No. 1 to the Sanction Agreement executed on June 14, 2021 between the International Motor Sports Association, LLC, and the County of Monterey for a race competition event at WeatherTech(r) Raceway at Laguna Seca with a 2024 sanction fee of $520,000 for an aggregate not to exceed sanction fee of $1,970,000 over the term of the Agreement.
SUMMARY/DISCUSSION:
The International Motor Sports Association (IMSA) is a North American sports car racing sanctioning body based in Daytona Beach, Florida and has held an annual event at Weathertech(r) Raceway since 2018. The event has become an annual professional race event that brings competitors from all over the United States to the facility.
The Board of Supervisors (Board) authorized the execution of a Sanctioning Agreement (Attachment A) between IMSA and the County of Monterey (County) on June 8, 2021, for the 2021, 2022 and 2023 racing season. IMSA sanctioned a race competition for its series at WeatherTech(r) Racetrack at Laguna Seca (WRLS).
Major sponsors of Laguna Seca Recreation Area (LSRA), such as WeatherTech(r), Hyundai, Mission Foods, and Motul, also sponsor or have teams that race for the IMSA organization. Attendance has grown over consecutive events, as seen with a 30% increase in 2023 vs. 2022. The 2024 race will air live on NBC network television.
Staff requests the Board approve and authorize the Mont...
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