AUGUST 13, 2003
CART on the verge of a sale?
There were rumors yesterday that CART was on the verge of a sale and the company's share price jumped dramatically only to fall back today when nothing happened. The excitement was caused by a report on ESPN.com which stated that CART team owners Gerry Forsythe, Paul Gentilozzi, Paul Newman and Kevin Kalkhoven were "expected to buy CART's remaining public shares and take it private within the next few days."
The likely package if a deal does go ahead will include TransAm, which Gentilozzi promotes and is now looking to buy.
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