Indianapolis, IN (My Sportsbook) - Open Wheel Racing Series owners increased their bid for the struggling Champ Car Series. OWRS said during a federal bankruptcy court hearing that they would up their cash offer for all of CART's assets to $3.2 million, plus assuming some liabilities, including 2003 prize money owed to teams, and ongoing contracts. Judge Frank Otte recessed the hearing while IRL officials and OWRS representatives held separate private meetings to discuss the bids. Otte said he expected to have a decision today on a winning bid. Should OWRS win the bid, it has said it has a 15-race schedule, 18 teams and a Television contract ready to go. Should the IRL come out victorious, they would most likely incorporate up to three road course events, including CART's premier Long Beach race, into their schedule. Tony George and the IRL split from CART in 1996 creating two North American open-wheel series. |
