Title
Approve and authorize the Monterey County Laguna Seca Representative to execute Amendment No. 2 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 2025 sanction fee of $535,000 for an aggregate not to exceed sanction fee of $2,505,000 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. 2 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 2025 sanction fee of $535,000 for an aggregate not to exceed sanction fee of $2,505,000 over the term of the Agreement.
SUMMARY/DISCUSSION:
The International Motor Sports Association (IMSA) is a North American sports car racing sanctioning body in Daytona Beach, Florida and has held an annual event at WeatherTech(r) Raceway at Laguna Seca (WRLS) since 2018. The event has become an annual professional race event that brings competitors from all over the United States to WRLS.
A Sanctioning Agreement between IMSA and the County of Monterey (County) was executed on June 8, 2021, for the 2021, 2022 and 2023 racing seasons (Attachment A). Amendment No. 1 for a one-year extension for the 2024 racing season was executed on August 22, 2023 (Attachment B). IMSA sanctioned the County's request to promote the 2025 race competition at 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 with a 30% increase in 2023 vs. 2022.
Staff requests the Board of Supervisors approve and authorize the...
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