Chassis snub proves expensive for Lola

Lola had already invested heavily in its prototype IRL car, and with CART announcing a freeze on its chassis regulations, two potentially lucrative revenue streams have effectively dried up.

"Lola was unable to come to a mutually acceptable agreement with the Indy Racing League regarding 2003-2005 chassis construction within their time deadline," said the company's sale and marketing director Christopher Tate. "As you might expect, we had gone a long way toward construction, committing nearly one million US dollars in design and development.

"Given the likely implications of this loss of business and the effects on [over] capacity, we will not venture into questions about future new products at this time. For the next few weeks, our efforts are focused on winning [CART races] at Milwaukee, Laguna Seca and Portland, as well as fashioning good results at Le Mans."