Copyright 2002, Roadracing World Publishing, Inc.

The AMA has extended its Letter of Intent with JamSports and is moving ahead to finalize the deal and sign contracts establishing a new Supercross Series to compete with Clear Channel Entertainment’s existing AMA-sanctioned Supercross Series.

In extending the Letter of Intent, the AMA has rebuffed what may be its last chance to reconcile and put a new deal together with Clear Channel, and has locked Supercross into an IRL/CART type split.

And because all 15 Clear Channel Supercross races held in the U.S. in 2003 will be part of the FIM Supercross World Championship Series, and because FIM regulations prevent National Federations such as AMA from sanctioning competing Nationals on the same weekend as a World Championship event, the AMA is seriously considering withdrawing from the FIM.

The AMA is trying to finalize the JamSports deal before new AMA Directors (Trustees) take office on February 16.

The rush by AMA brass is based on AMA Pro Racing CEO Scott Hollingsworth’s explanation of the events and perceived slights leading up to the AMA/CCE split, although Hollingsworth’s version of those events is radically different than the story told and documented by CCE and independent sources familiar with the situation.

Prior to AMA becoming the FIM affiliate, California-based AFM was the FIM affiliate in the U.S.; if AMA drops FIM affiliation, it’s not known who will take over the affiliation, although Clear Channel’s Formula USA program would have to be considered a strong contender.

Throughout ongoing negotiations with JamSports, Hollingsworth and his staffers have portrayed a “done deal” in media interviews, although a contract has not actually been signed. The official AMA magazine and website have also portrayed the deal as being concluded and finalized, misleading AMA members.

The Letter of Intent signed by the AMA and JamSports banned AMA from negotiating with any other promoters while terms of a contract were finalized. The Letter of Intent expired last week and has been extended, without final agreement reached on contract terms.