JANUARY 25, 2004
IRL has outbid CART
The Indianapolis Star newspaper is reporting that the Indy Racing League has topped OWRS's bid for the assets of bankrupt rival Championship Auto Racing Teams. The newspaper says that the IRL's bid for selected assets is $3.3m, double the amount that was on offer from the Open Wheel Racing Series. Sources told the newspaper that the only race contract on which IRL is bidding was the Grand Prix of Long Beach.
OWRS bidder Paul Gentilozzi said that IRL is also bidding for the Ford engines used in CART, which would mean that if the IRL bid is accepted CART will be without engines.
Both sides can up their bids before Judge Frank Otte decides the winner on Wednesday.
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