The Rocket Racing League (RRL), an aerospace sports and entertainment organization that combines the competition of racing with the excitement of rocketry, has issued Requests For Proposals (RFP) for race venues and teams.
The RRL's race events are slated to begin during the 2007-2008 racing season after the inaugural public exhibition flight at the X PRIZE Cup in New Mexico in October 2006.
"The issuance of these RFPs is a significant milestone in getting Rocket Racing off the ground," said Granger Whitelaw, President & CEO of the Rocket Racing League. "Efforts to assemble the teams, build and test rocket planes, and secure sponsorships and locations are steadily underway."
The RFP to host "RRL Series" sanctioned race events seeks competitive bids for four of the six races slated for 2007. Competing cities, airport authorities and other venues can submit bids outlining financial, land, tax credit, and in-kind services commitments to the RRL.
Through its strategic partnership with the RRL, the winning venue provider will receive direct revenues through the sale of sponsorships, tickets, advertising, concessions, merchandizing and parking.
The surrounding city or township can expect to see increased job creation as well as additional revenue generation through hotel and camping accommodations, restaurants, grocery and retail sales. The RFP also outlined its support efforts for venue providers, including local and national marketing and sales efforts.
The RFP for independently owned race teams requires a deposit of $100,000, held in escrow, on a Mark-1 X-Racer and submit a signed RRL Master Team Agreement.
Proposals must also contain the backgrounds of the team owners, information regarding pilots and must demonstrate the financial ability to cover the estimated upfront cost of $1.2M and the estimated annual operating cost of $500,000 to $1,000,000 per year. Teams are also asked to provide evidence of sponsorship sales and support capabilities.
Once accepted, race teams will be responsible for purchasing and maintaining their Mark-1 X-Racer and all necessary equipment as well as ensuring that the race vehicle remains in full compliance with the rules and regulations of the RRL. Teams will be charged with hiring and training their pilots and crew to the qualifications set by the RRL Governing Body and the FAA.
Initial letters of intent are due March 31, 2006 and written proposals are due May 31, 2006.
The RRL expects to have 10 or more race teams for the 2007-2008 racing season. RRL semi-finals will be held at the Reno Air Races in 2007 with the finals at the X PRIZE Cup.
