Want to Own A Race Team?
by: Staff | Views: 26,248
I recently received a press release for a company named OurRaceCar.com and was intrigued. The premise of the website and company is to allow the average Joe like you and I to own a part of a race team. For only $50 you buy your spot as an owner and get a voice in the decision making.
OurRaceCar.com aims to leverage its Internet presence to attract 20,000 members to start North America’s first co-operatively owned race car.
Jesse Jarjour, the website’s owner, says OurRaceCar.com will operate as a co-operative. After registering, every member will have the opportunity to vote on how the race car is managed. Members will be solicited for their opinions on important issues such as what series to buy into, for example NASCAR or Rolex Grand-AM, who to hire as the driver, what racing strategy to use, etc. A 51% majority will be required to make any decision final.
Sounds interesting doesn’t it? Until you read further into the FAQ’s of the company and see that they will be going after sponsorships and all winnings will be reinvested into the team.
That last line is the one that made me re-think this concept. If there is no split earnings what do you really get out of your ownership? Nothing! That’s what it boils down to. They are going to get 20,000 poor schmucks to pony up their fifty bucks for no return. Not a bad scheme if you think about it. They do address refunds in their FAQ’s but refunds are available if it’s been a year and no progress has been made. With a year of interest accruing on everyone’s money they would have turned a pretty profit and could still refund your money. My take is to steer (pun intended) clear of this and put your money into something more worthwhile.
Roger | Reply
Come on Salty! You must not be so entirely void of a beating heart to understand the emotions that might come for a fan with a direct connection to a race car? Fans won’t see this as an investment (perhaps you’ve got wall street on the brain too much these days?), they’ll see it as a chance to be a part of the decision making process, and will therefore be one step closer to the action. Interesting idea, methinks. I’m curious to see if it works. (And I went to the website and it indicated that there might be some race day perks that could make the direct costs largely negligible).
Nicole | Reply
What have you got against owning a piece of the action. The name of the game is having a say in running your car. It’s a great idea, I’m in.
Staff | Reply
Roger and Nicole, perhaps you should use a different computer in the future when promoting your scam, it looks a little suspicious when the comments come from the same IP address..
If you would like, we can make this a much more publicly visible post and see where it goes…
Prince | Reply
Hmmm… I wonder if this falls in the whole “there is no such thing as bad publicity” section?
But seriously at the risk of being looped in with the top two posters, I don’t really think this is a scam. There are lots of these sites out there, most of which are aimed at soccer.
Anyways I guess judgement has already been passed.