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AMF Offshore Racing Closing Shop

Just got off the phone with Scott Begovich of AMF Offshore Racing. Begovich throttles Miss Geico, the turbine-powered 50-foot Mystic catamaran that’s well known to offshore racing fans nationwide. Begovich told me that as of Friday, November 12, AMF Offshore Racing will cease to exist.

“With the retirement of John Haggin, AMF Offshore Racing will be going out of business on Friday,” said Begovich. “As of Monday, November 15, AMF Riviera Beach will open up with five partners to run AMF Offshore Rigging.”

The partners are Begovich and Miss Geico driver Marc Granet, Scott Colton, Gary Stray and Gary Goodell. Each partner has a 20-percent equity share in the new business. The new business will continue to field Miss Geico and will retain its Geico sponsorship, which comes up for renewal/renegotiation in 2012.

“We are pleased and confident in the new leadership of the new Miss Geico racing team and look forward to next year’s extremely busy schedule,” said Vince Giampietro, Geico’s senior marketing manager.

Begovich said that Miss Geico will stick with turbine power for the 2011 season, as the team is expecting three other turbine-powered cats to compete in the class. However, if the class doesn’t materialize, a power change for the 2012 season is likely.

“There are discussions about that,” said Begovich. “It all depends on how the 2011 season goes. We’ll give it one more go-round, but we want competition.”