JUNE 3, 2003
Pook and F1
Chris Pook, the chief executive of the CART series, has confirmed to the Indianapolis Star newspaper that he is involved in negotiation with Bernie Ecclestone about possible links between CART and Formula 1 but at the moment is not willing to give any details until the full details of arrangements are settled.
"Stay tuned," Pook told the newspaper when asked for information about the talks. "He's got some troubles, we've had some problems, and we want to work with him. We're trying to develop a strategic relationship, and when the time is right, we'll talk about it. All I can say is there's a lot going on in this company - a lot. But since I can't tell you straight up what it is, I'm not going to say anything."
CART does not really need any decisions until the end of the year when it will have spent much of the $100m that was in the bank. This money is being used this year to help existing teams to survive and new teams to become established and to buy TV coverage. The TV deals which are now in place call for CART to go on paying until viewing figures reach a certain level at which point the TV companies will start to pay CART.
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