• Why invest in a racetrack?

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    JOHNNY TAN is not slowing down in establishing racetracks in the Philippines for the love of motor sports, and he is currently involved in the planning stages to build the very first racetrack in Mindanao.

    He said Mindanao and the Visayas have potential talent for motor sports.

    “There are a lot of talents in Mindanao and Visayas, especially in Cebu, Ilolilo, there are lot of talents in Bacolod. Because we used to race against the Ilonggos in karting at the time,” Tan added.

    The racetrack will be located inside Davao City and will have a track measuring 3.4 kilometers. The Floreindos are Tan’s collaborators in the project that is in the planning stages. Tan said one of the Floreindos, Vincent, was active in sedan or touring car races in the Philippines. They are good friends.

    Although Tan has invested in the establishment and continuous improvements of three racetracks, he said racetracks are not highly profitable ventures.

    Also, promoting motor sports events requires him to shell out funds given the limited corporate sponsorship he can get. Although entrance or registration fees are collected, these are not yet enough to shoulder the cost of the staging of a race weekend.

    “In one motor sports event, we have to spend P300,000 to P500,000 for one weekend,” Tan added.

    But since he has seen how much effort and funds racecar drivers have to invest just to participate in races, he added that he is happy to make things easier for those participating in motor sports.

    Tan said that if it were not for his other businesses, it would be very hard for him to promote and stage races, and maintain racetracks.

    “Has anybody invested in a racetrack? None! They would rather spend their money building a condominium, or any money-making venture,” Tan said.

    “They even say there is only one crazy person [who would invest in racetracks]and that is Johnny Tan,” he added, laughing.

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