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Confusion amid bankruptcy rumours.

Champ Car World Series. 7-9 July 2007. Toronto Grand Prix. Toronto, Ontario, Canada. Start of race.

IndyCar » Confusion amid bankruptcy rumours.

Wednesday, 13th February 2008

Latest speculation points to winding up of Champ Car to pave way to one open-wheel series in 2008.

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Any unification between Champ Car and the Indycar Series could be accelerated should rumours that the World Series is poised to file for bankruptcy prove to be true.

As IRL founder Tony George and his cohorts fly back from Japan after attempting to persuade Motegi to move its date and avoid the clash with Long Beach that many claim is the sole sticking point to a merger of US racing's two struggling open-wheel series, Champ Car insiders have told ESPN that they believe the series is considering filing for liquidation.

Champ Car owners Kevin Kalkhoven, Gerald Forsythe and Paul Gentilozzi successfully prevented the series from falling into George's hands as the result of a US Bankruptcy Court hearing four years ago but, if the speculation proves to be right, the story may be about to come full circle, paving the way for a reunification of sorts to take place ahead of the 2008 season.

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However, while the prospect of a single open-wheel series will be welcomed by many, Champ Car's course of action is likely to leave a sour taste in the mouths of those who supported the series over that intervening period, notably those employees, tracks, teams, drivers and sponsors who not only committed to the 2008 campaign, but are also reportedly owed monies from 2007.

Promoters of the three Canadian events have said that they will wait for the outcome of various talks before deciding what action, if any to take. While Edmonton has been mentioned amongst the few CCWS events likely to be snapped up by a single series, Mont-Tremblant and the Kalkhoven/Forsythe-owned Toronto could find themselves left out.

"We're waiting for a clear signal on what's going to happen," Mont-Tremblant's Normand Prieur told The Canadian Press, "We have a contract with Champ Car and we have a date for the race. We are not commenting on what's being written."
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Champ Car World Series. 7-9 July 2007. Toronto Grand Prix. Toronto, Ontario, Canada. Start of race.
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