Terry Angstadt, president of the commercial division for the Indy Racing League, has said that unified IndyCar Series remains bullish going into 2009 despite the loss of the Belle Isle Detroit Grand Prix.

Speaking following confirmation that the round schedule for September 6, would not now take place, he reiterated that there is no rush to find a replacement.

"This is unfortunate news but something that Roger Penske and his group have kept us abreast of for some time," Angstadt noted.

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"The people of Detroit welcomed the IndyCar Series with impressive crowds the past two years and we support the Detroit Grand Prix's efforts for a possible return in 2010.

"The current economic climate is a challenge for all of us, but as we look ahead to 2009 and beyond we remain bullish on the opportunities ahead for the unified IndyCar Series.

"There is little doubt that the IndyCar Series offers considerable value opportunities for current and potential partners of the series and its teams and tracks.

"Any decision on what we might do with a valuable asset like a Labor Day race weekend either short or long-term will not be decided upon quickly," he summed-up.