www.OurRaceCar.com Invites Fans to Buy a Share In a Race Car

www.OurRaceCar.com Launched on October 18, 2008 invites fans to become more than just spectators.

Winnipeg, MB, Canada (Vocus/PRWEB ) November 19, 2008 -- North America's first mass co-operative initiative to acquire and run a Motor Sport operation, OurRaceCar.com, celebrated its first month of operations today. The website invites auto racing enthusiasts to become more than just spectators. Modeled after a British website that used mass co-operative ownership to acquire a soccer team, OurRaceCar.com aims to leverage its Internet presence to attract 20,000 members to start North America's first co-operatively owned race car.

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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.

It's an exciting time to get into this model of ownership on the ground level

Websites like this are becoming very popular but their reach so far has been limited to soccer and basketball, and mainly in Europe.

Think of 20,000 A.J Foyts or Roger Penskes

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."

Additionally, the Board of Directors will be comprised of three members chosen by their peers. These three directors will work with the team manager and Mr. Jarjour to ensure that member interests are fairly represented.

"It's an exciting time to get into this model of ownership on the ground level," says Mr. Jarjour. "Websites like this are becoming very popular but their reach so far has been limited to soccer and basketball, and mainly in Europe."

Mr. Jarjour believes that North American racing fans are passionate enough to make the website a success.

"Think of 20,000 A.J Foyts or Roger Penskes," said Mr. Jarjour.

An OurRaceCar.com membership costs $50 U.S., and is divided 80/20, with $40 going towards the creation and operation of The OurRaceCar.com Racing Team. The balance goes toward website maintenance and development.

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[Via Automotive]