According to well informed sources, Andretti Green Promotions, wholly-owned subsidiary of Andretti Green Racing, has signed a letter of intent to purchase the assets of the Grand Prix Association of Toronto.
Deadline for final purchase is the end of April if they want to enter into a purchase agreement. Since 2005, Andretti Green Promotions has run the race in St. Petersburg, Florida which was the first non-oval IRL event.
The Grand Prix of Toronto has been one of the mainstays of North American open-wheel racing, dating back to 1986.
Following the merger between the IRL and Champ Car, the 2008 event had to be postponed because a suitable date could not be found to hold the race.
Antoine L'Estage and his codriver Alan Ockwell of the Yokohama Canada Rally Team won the 2014 edition of the Rallye Defi by winning every stage of the rally.