Boston-based Powerlynx Motorsports Management, Inc., commercial manager of GT2 racer and former Ferrari Formula 1 driver Mika Salo, among other racing drivers, announced it has entered into litigation against Banco Santander and its affiliate Sovereign Bank.
Powerlynx is seeking $1m in damages from Banco Santander/Sovereign Bank, who it claims “failed to uphold normally practiced banking-to-client privileges by not supporting the best interests of their client during a merchant-customer dispute, while violating a ‘Zero-Liability Clause' enforced by the bank's ACH clearing house VISA, Inc.”
The conflict stems around the delay in the scheduled introduction of a website application used as a key integral marketing tool to assist corporate sponsorships of racing teams and drivers in all top-class motorsport formulas. Powerlynx Motorsports boss Mark Tosa notes that the delay has extended "into the peak time of year when sponsorship budgets are decided and allocated for the following year.
"It has definitely jeopardized a few sponsorship deals for next year, there's no question,” said Tosa. “So I myself, have to solely take some sort of action between my company and the bank as my clients themselves are not directly involved in this dispute.”
Powerlynx Motorsports has been working on multiple projects to see a revitalized ALMS manufacturer back into the series full time among some Grand Am and F3 campaigns.
Salo has raced in the American Le Mans Series and at Le Mans with Risi Motorsports' GT2 Ferrari 430 team in recent years, while driving a similar car in FIA GT competition. He shared the winning car at the 24 Hours this past June with teammates Jaime Melo and Pierre Kafferhas. During a visit to last October's Sprint Cup race at Lowe's Motor Speedway, however, Salo indicated he was working on plans to try NASCAR.
Santander announced at last weekend's Italian Grand Prix that it is becoming a title sponsor of Scuderia Ferrari in Formula 1, and also backs the McLaren-Mercedes team.