THE CANADIAN PRESS
EDMONTON — The 2008 Edmonton Indy was a big ticket event for race fans but it was far from a money maker.
Edmonton Northlands, the event operator, said in a report released Wednesday that the July 2008 races at the City Centre Airport lost a total of $5.3 million.
Northlands said a lack of proper time to market the big event, which moved from Champ Car to Indy, contributed to the loss.
Still, Northlands remains confident that the event will continue to be a must-see event for Edmontonians.
"As a community-based organization we see great value in building an unrivaled international event for Edmonton, and we have a plan to ensure the long-term financial sustainability of this race," Northlands president Ken Knowles said in a news release.
Edmonton committed to the race for three years, and in the report, it was determined that the race had an impact of more than $80 million in Edmonton and the rest of Alberta.
(CTV Edmonton)