NO! It's not !
source:
champweb.net
Contrary to what several announced nothing is played again. Is the series
more in danger that it was before this history? Yes, to certain level. In order
to well to understand the last developments, it is necessary to analyse the
financial aspect since there is not anything of sports in all this movement, if
it is only the product.
First, last September 10, Open Wheel Racing Series (OWRS) offered to buy CART
for the sum of 8,2 millions. That meant the transfer, so many assets (materials,
contracts, mark of trade, etc.) that of liabilities (debts, pursuits, etc.).
Thereafter, the date of December 19 has been fixed so that shareholders are
pronounced on the offer of purchase. Occurring the acceptance, OWRS would have
tempted CART to become profitable, like any private enterprise. Therefore, it
was owner's change in good and owed shape
Last December 2, OWRS withdrew her offer following the failure to respect of a
condition of the purchase promise. A clause of the contract indicated that CART
had to be able to confirm the involvement of 18 cars for the championship 2004.
Since the beginning, so much CART that OWRS knew that this clause would not be
respected. Of this manner OWRS had an option on CART as can retire, so
necessary. Following the withdrawal of the offer, CART announced that there was
not any more purchaser and that the bankruptcy was imminent since the enterprise
was not financially more viable.