WPSA Shuts Down

May 2, 2008
PowerSports Entertainment Inc. (PEI), parent company of the World PowerSports Association (WPSA) snowmobile and ATV race circuits, has suspended operations, the company said in a statement today. The WPSA completed its 2007-08 snocross tour in March and was scheduled to start its third ATV racing season this month.
“All of us here at the WPSA regret that we have no choice but to suspend operations and cancel the ATV tour at this time,” said Rick Murphy, CEO of PowerSports Entertainment Inc.
The circuit recently courted Jac Sperling — a former executive with the Minnesota Wild hockey team — to become a majority shareholder and inject cash and television production capabilities into the company, but that deal fell through. “When we got down to signing the agreement, [Jac] wasn’t comfortable with it,” said Scott O’Malley, president of PEI.
O’Malley said his group hopes to “resume operations,” but for now it has no firm solutions. The circuit’s Web site, wpsaracing.com, is no longer active.