RuSPORT will have a new owner for the 2007 Champ Car World Series season after confirmation that PKV Racing co-owner Dan Pettit has completed the purchase of the Colorado based team from founder Carl Russo.

Pettit's purchase of the team, which carried Justin Wilson to second place in the 2006 championship standings, ends long-running speculation surrounding the future of the third year Champ Car outfit – which saw its campaign heavily hit by the accident during testing at Road America earlier in the year that left former champion Cristiano da Matta nursing serious injuries.

As a result of the buyout, RuSPORT will continue to field the #9 and #10 cars next season, when Champ Car introduces the new Panoz DP01 chassis.

“I would like to start by thanking Carl Russo for all of his support and vision these last four years,” team president Jeremy Dale said. “He gave all of us a great opportunity and has been a great supporter of Champ Car. We are all very thankful for that.

“I'm very excited about Dan Pettit and his ownership position with the team. With what Carl has created and with Dan's vision looking forward, we will continue to flourish. We are all very excited about the 2007 season, new Panoz chassis, new event venues and an individual like Dan Pettit leading the team. Dan's involvement with RuSPORT in 2007 and beyond will make things very exciting.”

Pettit has been involved with Champ Car racing since 2004 when he and partners, Jimmy Vasser and Kevin Kalkhoven founded PKV Racing, and said he was excited by his new venture.

“I want to start by saying that Carl Russo has built RuSPORT into an excellent and competitive Champ Car team,” he said. “After discussing my options with Kevin Kalkhoven and Jimmy Vasser at PKV Racing and Champ Car management, we decided that this purchase would be a good fit for both parties. I will be working with Kevin in the future to ensure the success of both teams.

“I want to thank Carl for all of his work and efforts, Kevin Kalkhoven, Jerry Forsythe, Paul Gentilozzi and Champ Car for their full support of RuSPORT and of my future ownership plans. We look forward to building upon the championship culture and traditions that Carl and the entire RuSPORT team have already established.”

For Russo, the man who created the RuSPORT team around AJ Allmendinger for the 2003 Atlantic Championship season, the sale of the team brings to an end a difficult year that saw the love affair with Allmendinger come to an abrupt halt before da Matta was brought in to replace him. The Brazilian's horrific accident in September overshadowed another fine campaign from Briton Justin Wilson, who took his third Champ Car win en-route to the runners-up slot behind Sebastien Bourdais.