JULY 4, 2002

CART loses one of its top men

JAMES GROSFIELD, who helped to restructure the CART organization under Chris Pook, has re-signed. The official reason for this is "personal reasons" but given the circumstances this does not sound very likely and it seems more likely that there has been a difference of opinion amongst the major players. Obviously it is not in anyone's interest to admit such a thing.

CART is still struggling with a low share price which is not recovering and a fading number of teams. There is now no chance of a rapprochement with the Indy Racing League as CART has decided to go with a one engine formula next year.

It is worth noting that the problems of CART are also affecting the Lola company which is also under pressure because of a drop in sales in Formula 3000. The Huntingdon company has however recently landed a new deal to supply Formula Nippon in Japan but is still believed to be facing the need to downsize a little as a result of the state of the market.

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