[IRL/FIL] 2008 Season

Including the Indy 500 and all junior series leading up to IndyCar
aewallace81
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#646

Post by aewallace81 »

Bottom post of the previous page:

I was hoping Meira might get a better drive than that. Good news about the Ganassi switch, that should help Dario adapt back for next year.
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#647

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Great, my favorite IndyCar driver will stay in the series. Vitor and Panther were certainly getting the results, just look at Indy this year. But still no win. Maybe he can make the final step on the podium when he joins A.J.'s team. I'm certainly looking forward to 2009.

What will Manning do? Maybe sports cars, LMS?
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#648

Post by kals »

I think he's done of LMS races this year (in a Zytek I think), so I guess that would be the logical step for him.
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#649

Post by HC »

Rumor is that Matos will drive for KV Racing in 2009.
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#650

Post by ww1ace »

Wow, Helio Castroneves just got indicted on 6 counts of tax evasion! :shock:
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#651

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Castroneves indicted on U.S. tax charges
By Curt Cavin
Posted: October 2, 2008

Two-time Indianapolis 500 champion Helio Castroneves is expected to appear in federal court Friday after he was indicted on multiple counts of tax evasion today in Miami.

Castroneves, a 33-year-old Brazilian who owns a home in South Florida, is charged with failing to report $5.5 million in income to the Internal Revenue Service from 1999 to 2002. Also named in the indictment were his sister Kati, who serves as his manager, and attorney Alan R. Miller.

Castroneves won the 500 in 2001 and 2002. He became a national celebrity last year when he won television’s “Dancing With the Stars” competition.

Each of the counts — one for fraud and six for tax evasion — carries a maximum penalty of five years in federal prison. Today’s hearing is set for 1:30 p.m. Friday in 7th District Court in Miami.

“This case sends a clear message that the IRS is committed to vigorously enforcing the tax laws and stopping offshore tax evasion,” IRS commissioner Doug Shulman said.

Castroneves, who is based in Coral Gables, Fla., was testing a sports car today in Braselton, Ga., and could not be reached for comment. An official from his IndyCar Series team acknowledged the indictment and said Castroneves will answer it.

“We knew about it, obviously, in advance,” said Bud Denker, the executive vice president of Penske Racing. “As a result of that, we will get (the indictment), review it and move forward.”

Indy Racing League president Terry Angstadt reacted with surprise to the indictment. “We were clearly a little caught off guard to say the least but he’s certainly innocent until proven guilty,” he said.

The 25-page document outlines an elaborate plan to funnel money through multiple companies, including Panama-based Seven Promotions. Castroneves and the co-defendants are also accused of using a Swiss bank account, a licensing company in The Netherlands and a Brazilian sponsor to mask wages.

In the case of the latter, Coimex officials paid Seven Promotions, which Castroneves and family members controlled, $2 million for three consecutive years (1999-2001). But Seven Promotions kept only $200,000 and returned the other $1.8 million to company executives in what the document describes as a kickback program.


Also at issue is a civil case in February 2004 when IRS officials claim Castroneves, his sister and Miller testified falsely about their involvement with Seven Promotions.

In Castroneves’ first driving contract with Penske Racing, which spanned three years, the team paid Castroneves Racing $1 million per year and Seven Promotions another $5 million. Miller later asked Penske to stop paying Seven and direct the money to a deferred royalties plan at Fintage Licensing, a company based in The Netherlands. No income tax was allegedly paid.

Castroneves recently agreed to an extension of his contract with the IndyCar Series team based in Mooresville, N.C. He finished second in the season’s standings to Scott Dixon of Ganassi Racing.

Source: IndyStar
Shocking, its the last guy you would expect this from.
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#652

Post by Cynon »

... basically says the same thing as the one above it, but I thought you guys might wanna read it.
MIAMI (AP) — Race car driver and ``Dancing With The Stars'' winner Helio Castroneves pleaded not guilty Friday to federal tax evasion charges and declared outside the courtroom that he would treat the case like a race against the Internal Revenue Service.

``I'm a race car driver,'' the two-time Indianapolis 500 winner told reporters. ``This is a very difficult situation. I'll be strong and I'll win this race.''

Castroneves, 33, spoke after his release on $10 million bail following a court appearance in which he was shackled in handcuffs and leg chains and was visibly weeping into a wad of white tissue. Outside, Castroneves acknowledged he was overwhelmed by the weight of the moment.

``It's been a long day. It's been an emotional day, obviously,'' he said. ``I am not guilty.''

With that, Castroneves hopped into a waiting car and headed for a flight to Atlanta to participate in this weekend's Petit Le Mans race. Terms of Castroneves' release allow him to travel for work in the United States but not abroad, meaning he will likely miss a race later this month in Australia, said his attorney, Mark Seiden.

A grand jury on Thursday indicted Castroneves on charges of conspiracy and six counts of tax evasion for purportedly failing to report to the IRS about $5.5 million in income between 1999 and 2004, according to court documents. Each count carries a maximum five-year prison sentence.

Also facing charges are Katiucia Castroneves, the driver's sister and business manager, and attorney Alan R. Miller of Birmingham, Mich. They did not enter pleas Friday but were ordered released on bail of $2 million and $250,000, respectively.

Another Castroneves attorney, David Garvin, said he was disappointed that the tax dispute could not be resolved without criminal charges.

``Helio has always done the appropriate thing and hired accountants and attorneys he relied upon,'' Garvin said. ``We are of the strong belief that he did not do anything wrong. We're looking forward to going to court.''

Castroneves, a native of Sao Paulo, Brazil, has won the Indianapolis 500 twice and finished second this year in the IndyCar Series points standings. He and partner Julianne Hough won the 2007 ``Dancing With The Stars'' reality show competition on ABC.

Miller's attorney, Michael Tein, sharply criticized federal prosecutors for bringing the case. Tein contended that Castroneves' fame was the main reason the three were charged with crimes.

``This case is the height of overreaching,'' Tein said.

The indictment charges that Castroneves illegally concealed income from Penske Racing Inc. and the Brazilian firm Coimex International S.A. Neither company is charged with any wrongdoing.

In Penske's case, prosecutors say Castroneves was to be paid $5 million in exchange for rights to use his name, likeness and image. The money was initially supposed to go to a Panamanian shell corporation, but then was diverted to a Dutch entity called Fintage Licensing.

Fintage was set up as a ``deferred royalty plan'' in which U.S. tax payments can be delayed, which is only legal if Castroneves had no relationship or control over it. Prosecutors say he did have control and that false statements were made to Penske about the relationship.

Coimex paid Castroneves $600,000 between 1999 through 2001 for sponsorship contracts, but he only paid taxes on about $50,000, prosecutors said.

Katuicia Castroneves transferred some of the hidden money to a Swiss bank account she controlled with her brother, court documents show.

The Associated Press
Source: http://www.comcast.net/articles/sports- ... x.Charges/
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#653

Post by HC »

I wonder how he will do at Petit, Ryan put the car on pole. If I would be handcuffed the day before I would certainly not be able to race a 10 hour race with a clear head.

If he really did it I can´t understand why he continued after getting more and more fame. With one or two million it basically means you won´t have to work again, so why try to get more money. Anyway, if the prosecution would really have a good case then they would have sued the companies too. We´ll see.
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#654

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Matos joins Luczo Dragon for 2009

By Matt Beer Tuesday, October 7th 2008, 20:56 GMT

Indy Lights champion Raphael Matos is to graduate to the IRL IndyCar Series with Luczo Dragon Racing next season.

The 27-year-old Brazilian will be the team's sole driver as they commence their first full-time IndyCar campaign, and makes the step up having won the Champ Car Atlantic and Indy Lights titles in consecutive seasons, following on from previous championship successes in Formula Dodge and Star Mazda.

"I'm extremely excited about the opportunity," Matos said. "It's definitely the biggest step in my career. This is such a young and promising organisation.

"I've worked really hard to get here, and I'm willing to do whatever it takes to win races, and obviously our ultimate goal is the championship.

"There's a lot of competition. We're fighting against Penske, Andretti Green, Ganassi and a bunch of other good teams and good drivers, but I think we have what it takes to win races and to perform well."

Matos had driven for Andretti Green Racing's Indy Lights arm this year, and had been linked to a mooted fifth AGR IndyCar entry. But Matos felt his chance of an AGR drive ended when Tony Kanaan signed a contract extension in August.

"When TK signed his five-year contract, I kind of felt the way things were going there it would be difficult to put a fifth car together," he said.

"They're very focused on running four cars. It would be very tough to add a fifth car. They certainly understood my side, and I still have a really good relationship with them. Obviously, I left the team in good terms because we won the championship together."

Luczo Dragon, co-owned by Roger Penske's son Jay and Steve Luczo, first appeared at the 2007 Indianapolis 500, where they took fifth place on a one-off run with Ryan Briscoe which paved the way for the Australian's Penske deal this year.

They then signed Tomas Scheckter for what became a six-round programme this season, but despite showing promising pace on the ovals, Luczo Dragon hit problems at every race and Scheckter's best finish was 21st at Detroit, 31 laps down after an early driveshaft breakage.

Jay Penske believes Matos is the ideal driver for his squad's first full IndyCar season.

"This is an exciting day for our race team because not only are we taking that step to full-time status, we are adding a young driver who has proven to be a champion at every level he has raced," Penske said.

"Any time you can win four championships in six years like Rafa has done you have some special qualities. He is ready for the IndyCar Series, and we are so thrilled to have him."

Source: Autosport
Great news and what an opportunity. These guys have certainly shown that they are for real last year. I think we'll see Rafa up there, battling for the lead. I don't believe they have done a RC yet, so that will maybe cause some trouble early on.
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#655

Post by kals »

I really enjoyed Schekter's performances in the LD car last year. It was just a shame he couldn't string one good result together, as the entire team deserved it. Great news for Matos. I wonder if we will see Schekter back next year?
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#656

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I think the V8 Supercars director has a bit of a different view about it. He was already planning on getting DTM haha.
Surfers set for long IndyCar future

By Glenn Freeman Thursday, October 9th 2008, 12:36 GMT

Surfers Paradise is set to become a fixture on the IndyCar Series schedule until 2013, according to Queensland's sports minister.

Following criticism from local MPs suggesting the event had no future, sports minister Judy Spence says that only the date needs to be finalised before the popular Australian race cements its place on the 2009 calendar.

"As far as we're concerned it is full steam ahead of Indy on the Gold Coast this year and beyond," she was quoted as saying by goldcoast.com.au.

"Our commitment to the future of the race has seen us renew our agreement through to 2013 and we have signed an memorandum of understanding with the IRL."

Spence added that the government was determined to secure the future of the race, and she is optimistic that the deal can be finalised during this year's non-championship event in the last weekend of October.

"We knew the Gold Coast wouldn't yet be listed on next year's IRL calendar because we are still negotiating the dates," she said. "They will not be finalised until we sit down with the IRL during this year's Indy.

"We are committed to ensuring that there is a formula race as well as a V8 car race."

Source: Autosport
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#657

Post by PTRACER »

That's good news :thumbsup:
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#658

Post by Cynon »

PTRACER wrote:That's good news :thumbsup:
Captain Understatement to the Rescue!

Good to see that we'll have more years of racing in good ol' Surfer's Paradise, which has for whatever reason brought about fantastic racing. 1994 and 1995 CART races, anyone?
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#659

Post by kals »

It's reported in Autosport magazine this week that Castro Neves may miss the Surfers race because of ongoing tax issues. He had to surrender his passport recently. If he doesn't race, I wonder who take his place. Hornish maybe?
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#660

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kals wrote:It's reported in Autosport magazine this week that Castro Neves may miss the Surfers race because of ongoing tax issues. He had to surrender his passport recently. If he doesn't race, I wonder who take his place. Hornish maybe?
I don't think Sam Hornish would take it, but he might. Hornish was offered an Indy 500 drive by Penske but turned it down because he wanted to get better in NASCAR.
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#661

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Cynon wrote:
kals wrote:It's reported in Autosport magazine this week that Castro Neves may miss the Surfers race because of ongoing tax issues. He had to surrender his passport recently. If he doesn't race, I wonder who take his place. Hornish maybe?
I don't think Sam Hornish would take it, but he might. Hornish was offered an Indy 500 drive by Penske but turned it down because he wanted to get better in NASCAR.
Dream on, Sam. :thumbsup:
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