Investor group pulling out of Milwaukee Mile: The future of motor sports at the Milwaukee Mile is in doubt after Wisconsin State Fair Park officials announced Tuesday [Dec 16th] that the investor group now promoting events at the track plans to get out of the business by December 2010. Milwaukee Mile Holdings LLC is led by two Californians, Frank J. Andrews and David O. Stroud, but includes several prominent local investors, including local philanthropists Chris Abele and Dan Bader, Ulice Payne Jr., chairman of the Bradley Center Sports and Entertainment Corp., and auto dealer David Hobbs. The group had asked the board to reopen its licensing agreement because it was losing money. The board said no, prompting the group to exercise its right to opt out by December 2010. Milwaukee Mile has said that, since taking over the historic racetrack in December 2005, it lost $2.1 million in 2006 and $1.5 million in 2007. This year it expects to lose $1.2 million. The group's latest proposal called for dropping the annual license fee, estimated at $700,000 this year, and for the right to develop a parcel near the Pettit National Ice Center. Milwaukee Mile officials said at least four races were still scheduled for next season, beginning with the Indycar Series from May 29-31. Evan Zeppos, a Milwaukee Mile spokesman, said, "While we have tendered our option to terminate, if the state were to come back to us, we would listen to them."(Milwaukee Journal Sentinel)(12-27-2008)