George unhappy with verdict

Several leading figures in the IRL community have also voiced their unhappiness with the verdict, which ensures the Champ Car World Series can continue this year under the ownership of the OWRS group.

"Obviously, we're disappointed," said George. "We were prepared to make a winning bid and we knew it would take a lot of money so we brought our chequebook. But in the end we didn't have the right currency. Today was about creditors and the money owed by CART.

"I felt we had an opportunity to unite open wheel racing. But I'm not interested in any kind of merger now that they've got those assets. I'm not interested in giving up the equity we've got in the IRL.

"With the economy it's going to be tough to have two series in open wheel racing and by us not being successful today our work will continue to be a challenge but we're up to it. And we still intend to go road racing in the future."

Tim Cindric, the president of leading IRL (and former CART) outfit Penske, told The Indianapolis Star: "Everyone [in open-wheel racing] came out a loser today. We'll be that way until everyone has a common direction."

Penske driver Helio Castroneves added: "It's a shame, that's what it is. I think politics could have been put aside a little and something could have come about that was good."