CART to cut back on team support in 2004

CART, the Champ Car World Series promoter in Indianapolis, USA, has confirmed that it will be unable to maintain its entrant support programme at the current level in 2004, due to insufficient resources. The new, $33m programme currently provides up to $42,500 to the teams per race per car, in addition to prize money. CART now hopes to have sufficient 2004 participation, but warns that its series may not be able to maintain the same number of cars (19) as in 2003

Jun 16, 2003, 6:30 PM

The cutback will be part of a drive by CART to reduce its operating costs in 2004 by $2.5m (relative to its 2002 financial results) in the case of race operations, and $6.1m in the case of administrative and indirect expenses.

Without this additional funding in 2003, CART said, it would have been unlikely to field the number of teams necessary to comply with its contracts with promoters and TV broadcasters. Based on discussions with current and prospective team owners, the promoter does now anticipate having a sufficient number of teams for next season, but says that a risk remains that, due to a lack of sponsorship funding, certain teams may not be able to compete.