OWRS plays down IRL's Champ Car interest

"We've spent six months to acquire a thorough understanding of the situation and develop a business plan for the successful operation of the series," said Gentilozzi.

US bankruptcy judge Frank J. Otte established a timeline on December 30, 2003, for the completion of the Champ Car asset sale proceedings. The court approved the procedure submitted by CART to sell its assets and accepted the OWRS proposal to purchase them as a 'qualified bid'. Any other parties interested in submitting bids must do so no later than January 23, and the court will render a final decision with regard to the OWRS proposal on January 28.

"My understanding is that the IRL filed and signed a non-disclosure agreement with CART that gives them the right to examine the documents for the CART asset purchase as put forth by the court," added Gentilozzi. "It's not unexpected that other organisations will come forward to review the assets and documents, as we're all in the motorsport business."