I had an idea for an even better twist on it. A no holds barred high stakes National Competition. If the loss of the car was real - who in their right mind would want to loose their big $$$ car. Instead, the format I envisioned was a round robin series of eliminations playing against an entry fee prize pool. No rules except the car had to have working lights (and of course safety eqiupment). Owners anti up a sizeable fee - say $5000.00 - alot of $$$, yes, but still a heck of a lot less than the cost of a car. Best of three - same format - negotiated lead times, except use the timing system. Winner moves on. Final winner takes 50% of the prize pool. Get 100 cars to enter at 5k each, winner gets $250K. Balance of the $$$ goes for track rentals and expenses. Get 200 guys to enter, the prize pool goes to $500k. All about the numbers. Get 400 guys to enter - prize pool goes to a cool $1 mil.
Set some real $$$ out there and get some real talent to show up.