While Open Wheel Racing Series LLC continues its efforts to finalize a
takeover of the Champ Car World Series, Championship Auto Racing Teams Inc. is
moving closer to ending its presence as a public company
source:
speedtv.com
On Monday, CART announced the resignations of board members James Hardymon,
James Henderson, Frederick Tucker and Ralph Sanchez. The resignations leave
leaving president and CEO Chris Pook the lone remaining director of the company.
Meanwhile, the IRL for the first time admitted that it is considering making an
offer for CART's assets in bankruptcy proceedings. IRL officials inspected the
company's assets last week, and have until Jan. 23 to lodge an offer with the
bankruptcy court in Indianapolis.
"After reviewing some of the assets, we decided that we should at least look
into it," Fred Nation, the IRL's VP of communications, told the Indianapolis
Star. "We're a racing company, and they have racing equipment for sale. Most
of the items are things we need."
Final resolution of the bankruptcy proceedings are expected by Jan. 28,
whereupon it should become clear whether or not the Champ Car World Series will
be able to continue as an independent entity.