Michelin has offered to refund the ticket price to all of the fans who attended the U.S. Grand Prix at Indianapolis. There are few other details at this time but it is expected that the Indianapolis Motor Speedway will administer the refunds.
Michelin also said they would buy 20,000 tickets for the 2006 race to be given to those who attended this year’s race during which the 14 Michelin runners retired on the advice of their tyre supplier. It remains to be seen how these tickets will be distributed as there were approximately 100,000 fans at the race this year.
These refunds to those fans that attended the race are expected to cost the company around $12 million but the damage to their reputation with the millions of F1 fans around the world could be much more costly.