JULY 24, 2002
CART stock continues to slide
THE efforts of the CART organization to build up their troubled championship continue to draw a blank with the stock price sliding to a new low in yesterday's trading on Wall Street. The stocks, which were worth $17.20 a few months ago, are now trading at $7.47.
CART is important to Formula 1 as it controls a number of the major road tracks in the United States and if CART does collapse, as many have suggested will happen, that would open the way for F1 to return to tracks such as Long Beach or try out Laguna Seca. It might also result in an influx of American teams towards Formula 1 as some of the CART regulars have no desire to join the oval-only Indy Racing League. The CART entry list currently stands at 19 cars and if the economy continues to slide as it has in recent weeks this is likely to reduce still further.
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