Presenting Sponsor? Circuit City Out Of Business

[MonkeySlide]

It was announced today that Circuit City is officially going out of businees and they're liqudating all of their stores and will have everything closed up by March 1st.

Now, you might be wondering why this is relevant to drifting. As far as I know Circuit City is the presenting sponsor of Formula D.

Not sure if 2008 was the last year on their contract or if they had inteneded on re-upping for 2009 before the economic crash.

With the presenting sponsor gone so abruptly..how will this effect Formula D?

Maybe they already have a plan B.

Anyone from Formula D care to chime in on this?

[Ter-Tech Drift]

Here is a link: drift

[Cavi Mike]

Isn't that what RedBull was all about?

[sweetcarz02]

http://www.wreckedmagazine.com/blog/...city-collapse/
I had Ryan Sage comment for us on the situation right when it broke on Friday. Here is what he had to say,

"Well, of course the biggest thing for us is our relationship with the people at Circuit City who are now added to the growing number of the unemployed. We have many friends there (and a few very close friends) who are feeling the brunt of this worse than us losing a sponsor. That being said, it is a significant loss for us, but not one that comes at a major surprise. FD will be moving forward as planned going into 09, but it is no secret that this and the economy as a whole will have an impact. What that means, is still undefined. We had a stellar 2008 and sponsors have been supportive as they can possibly be. It is more important than ever for the community to band together and make sure we are not watering down or spreading funding for the series or teams to places that are not advancing the sport.”