Champ Car rivals back in court today
The US Bankruptcy Court in Indianapolis is reconvened today, effectively to decide the future of high-level American single-seater racing. The court has been evaluating rival offers for Champ Car World Series assets, owned by the bankrupt CART operating company, from the purpose-formed Open Wheel Racing Series consortium and the Indy Racing League. Judge Frank J. Otte has cleared his diary until the end of the week
Indianapolis president Tony George says the IRL has entered the bidding process in an effort to unify open-wheel racing. He told the Indianapolis Star that the bidding could get "frenzied". OWRS principals Paul Gentilozzi, Kevin Kalkhoven and Gerald Forsythe believe George is trying to kill CART and all three have all publicly stated that they will not lose the battle to keep the Champ Car and Toyota Atlantic series alive.
In an asset auction for Chapter 11 bankruptcy, the highest bid is not necessarily the best bid. Judge Otte will first receive a recommendation from a creditors committee as well as the CART Board of Directors. CART has announced that it will cease operation if the OWRS bid is not approved.
The hearing starts today (Wednesday) but last until the end of the week.
Share Or Save This Story
What has changed as FOM and FIA appear more aligned on F1's future?
Ex-F1 race director Wittich defends Masi's decision-making at 2021 Abu Dhabi GP
Bearman blames Colapinto for "unacceptable" crash at Suzuka
Duke video archive: Macau 1990 watchalong with Anthony Davidson
Subscribe and access Autosport.com with your ad-blocker.
From Formula 1 to MotoGP we report straight from the paddock because we love our sport, just like you. In order to keep delivering our expert journalism, our website uses advertising. Still, we want to give you the opportunity to enjoy an ad-free and tracker-free website and to continue using your adblocker.
Top Comments