The various Open Wheel Racing Series partners have said that they are not concerned by information reporting that the rival Indy Racing League has recently expressed an interest in bidding for the CART assets being sought to keep Champ Car racing alive.

US bankruptcy judge Frank Otte established a timeline to complete the CART asset purchase proceedings on 30 December, and the courts approved the procedure submitted by CART to sell its assets, and accepted the OWRS proposal to purchase those assets as a 'qualified bid'. Any other parties interested in submitting competing bids must do so no later than 23 January, with the court set to render a final decision with regard to the proposal on 28 January.

"My understanding is that the IRL filed and signed a non-disclosure agreement with CART that gives them the right to examine the documents for the CART asset purchase as put forth by the court," explained OWRS partner and Champ Car team owner Paul Gentilozzi, "It's not unexpected that other organisations would come forward to review the assets and documents, as we're all in the motorsports business.

"We've spent six months to acquire a thorough understanding of the situation and develop a business plan for the successful operation of the series. We are steadfast in our dedication and commitment to continue the Champ Car World Series for the millions of loyal open-wheel racing fans throughout North America and beyond."

"I doubt that the IRL would put in a bid in order to continue the series," added fellow partner Kevin Kalkhoven, "In my opinion, their desire would be to kill it. The result would be many hundreds of Americans out of work, depriving two million fans of the opportunity of watching some of the greatest racing in the world and showcasing a great historical American motor racing series. I would sum it up as the IRL wants to bury, OWRS wants to build. That's the difference.

"Any offer to acquire specific race assets without assuming all of the contracts as in the OWRS proposal is unlikely to beat the OWRS offer, because it would not take on all of the liabilities associated with those contracts."

 

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