Briefing January 2014 Issue
Briefing: January 2014
Reno Races Face Financial Crunch
Organizers of the Reno Air Races, a popular and unique event since 1964, have run into financial difficulties. In an open letter posted online in November, Reno Air Racing Association President Mike Houghton said the group needed to raise a half-million dollars by December 15 to meet expenses, including “oppressive” insurance premiums. RARA already has made “agonizing” cuts in staff, Houghton said. The races have lost money for the last three years, since the crash of Jimmy Leeward’s P-51D, which killed 11 and injured 69 in September 2011. Houghton said the board of directors and the bylaws are being restructured.