Chevrolet set to replace Oldsmobile

General Motors announced that it was extending its agreement as an IRL engine supplier until 2005 season, but the Oldsmobile brand is to be phased out of production by American car giant GM in the next few years. Chevrolet is thought to be in pole position to replace the name.

"If General Motors believes Chevrolet is the best match for us, I'm happy to have them involved," said the IRL's vice president of operations Brian Barnhart. "Chevrolet would be a huge name to the IRL. It's the most predominant of their brands. I would love to see Chevrolet, but I wouldn't be unhappy with any of the other ones as well."

The likely return of the Chevrolet name comes on the back of an announcement last week that Toyota would be joining the IRL as an engine supplier beginning in 2003. Toyota also competes in the rival Champ Car series, fueling speculation that CART is considering a move to 3.5-litre, normally-aspirated engines, making it easier for its teams to participate in the Indianapolis 500.