Russo explains Champ Car exit

Russo told autosport.com: "Contrary to certain rumours and stories, I was not selling Calix. We have exciting opportunities there that I have to work on, and it was taking up so much of my time that I couldn't attend some of the Champ Car races in the second half of last year.

"RuSPORT is a team that finished third in the championship in 2005, second in 2006, but we needed someone to be able to take it to the next level, to be challenging for the championship.

"In that situation, it could not be me, because you can burn the candle at one end, but you can't burn it at both ends for very long.

"So I had to make a decision, and I decided to make Calix the best business I can until I run out of skills or run out of inclination, and that isn't going to be any time soon."

However, Russo did not rule out a possible return to Champ Car in future years. "Remember, Jerry Forsythe left motorsport to concentrate on his other business before coming back.

"I love the sport, and I hold out great hope for the Champ Car World Series, the Panoz chassis, and the changing business model that the new chassis brings to bear."

Russo also endorsed the credentials of the man who is taking over the reins at RuSPORT, Dan Pettit.

"Dan is absolutely the right man for the job. It needs someone from a technical background, one who knows how Champ Car works, how running a Champ Car team works, one with the financial wherewithal to do what's necessary, and one with a benevolent attitude. That's Dan.

"It's no secret that we didn't take the most direct route to getting to this stage, but I am convinced we got the right result in the end."

Pettit will continue as co-owner of PKV Racing, while fully owning RuSPORT. Kevin Kalkhoven and Jimmy Vasser will continue with PKV.