hearing Tyler Jet Motorsports and IRL’s TeamExtreme have filed a lawsuit against Lycos.com regarding the failed sponsorship compensation(7-23-2000) UPDATE: TylerJet has sued Lycos Inc. in U.S. District Court in Lufkin, Texas, for peculiarities in paying for a proposed sponsorship deal with the team this season. The suit asks for breach-of-contract damages in the amount of $15 million and punitive damages in the amount of $100 million. The suit alleges that Lycos, best known as an internet search engine with other associated marketing vehicles, offered, “in lieu of cash”, $4m in “standard advertising banners” at a rate of $5 per 1,000 banners, plus the right to receive $1.5m in cash from a third party, not specified(SpeedVision)(7-24-2000) UPDATE 2: see antoher story on the lawsuit at the National Speed Sport News site AND hearing the former driver for Tyler Jet, Rich Bickle, has filed suit against the team(7-29-2000)
