The Champ Car World Series released its 2008 schedule Monday, and a return to Las Vegas was not included.

Phoenix-based DDB Ventures had been promoting two new Champ Car races: the Las Vegas race and another on downtown streets in Phoenix in December. But after undisclosed financial losses for the Las Vegas race in April, DDB canceled the Phoenix event.

"The promoters of the '07 Las Vegas event were the same promoters who canceled our Phoenix event. To make a long story short, we're not prepared to work with them again," Champ Car President Steve Johnson said Monday.

DDB principles Dale Jensen and Brad Yonover left the race-promotion business soon after canceling the Phoenix event, according to Jim Fruedenberg, who was the Vegas Grand Prix president and chief executive. Jensen, a venture capitalist, is the largest investor of the Arizona Diamondbacks and part-owner of the Phoenix Suns.

It's unknown what costs Las Vegas incurred to support the race other than a one-time contribution of $500,000 that went toward repaving streets to be used for racing. Fruedenberg said DDB spent an additional $1.3 million on street improvements.

The city would have had to pay a $1 million penalty if it did not honor its five-year contract with DDB, Fruedenberg said, adding that DDB owes Las Vegas nothing despite the race not returning.

One source said DDB lost about $10 million on the Las Vegas event, which includes about $6 million for four miles of portable concrete guardwall with fencing and specially built pedestrian bridges.

Mayor Oscar Goodman was unavailable for comment Monday. City manager Doug Selby was not in his office, but a meeting is scheduled today with Vegas Grand Prix accounting officials, possibly to discuss reimbursement of some paving costs.

When campaigning to gain city support, DDB claimed the event's economic impact would be more than $70 million and would draw 150,000 downtown during the three-day event.

Fruedenberg said Monday that the event moved 129,000 through downtown during Easter weekend. It's unlikely that number reflects exclusive race visitors.

A Saturday "street party" with concerts funded by the Vegas Grand Prix drew a crowd to the Fremont Street Experience comparable to the throng that gathers on New Year's Eve, Las Vegas Events officials said.

But LVE, which was an associate sponsor of the race, was unable to measure the event's economic impact.

"We did the (economic impact) study, but the problem was there were no official ticket counts," said LVE president Pat Christenson.

The race course included Main Street, several streets around Fremont Street and Grand Central Parkway in front of the World Market Center. Racers called it one of the best temporary street courses built.

But the layout made several downtown hotels an island and forced their guests to use temporary pedestrian bridges or wait for when the course was opened sporadically to reach their destination.

The Greyhound bus station on Main Street also was relocated to Casino Center Boulevard, inconveniencing many riders who were unaware of the move.

Fruedenberg was the point man for the DDB races but left the company in late September. He has been working on his own to find a promoter and possible new venue for the Vegas Grand Prix to return in 2009.

"If I haven't been able to come up with a promoter over the past three months, I'm doubtful I'll find one before the end of this week," Fruedenberg said of his deadline, which seems to have passed when Champ Car announced its schedule for next year.

Champ Car President Johnson and Fruedenberg stood shoulder to shoulder with Jensen and Yonover at various presentations last year before the Las Vegas City Council, seeking approval for use of the streets and financial support.

"We did consider different options for returning to Vegas in '08; the tight timetable just didn't allow it to happen," Johnson said.

"We'd certainly consider returning to Vegas in the future, but really only under the right situation.''

Fruedenberg said the event could return in April 2009 and be held either downtown or at the Thomas & Mack Center.

"We could use (UNLV's) spring break to set up the course that at the most would use part of Swensen for a very short time on each day of the racing weekend," he said.

He added that converting the area around Thomas & Mack to a race course would cost considerably less than what DDB paid to build the downtown circuit.

Contact reporter Jeff Wolf at jwolf@reviewjournal.com or (702) 383-0247.