Report: Champ Car to file for bankruptcy
TSN.ca Staff
2/12/2008 8:32:29 AM
While open-wheel fans wait for the next domino to fall in the merger/takeover between the IRL and Champ Car, there are reports one obstacle on the way to unification may be removed.
According to SpeedTV.com, there are indications that Champ Car is preparing to file for bankruptcy within the next 24-48 hours. It's uncertain if this is part of the unification process with the IRL.
Champ Car president Steve Johnson responded to the report by saying the bankruptcy rumor has been hanging over their head for the last 18 months and he has not been informed about any such plan at this time.
The news comes just as IRL boss Tony George and some of his staff return from Japan where they met with officials of Twin Ring Motegi about possibly moving their race date in 2008 to accomodate the addition of Champ Car's Long Beach race.
Long Beach, traditionally the season opening Champ Car race, would be one of at least three races which would be incorporated into the 2008 IRL schedule should a merger/takeover take place.
According to Robert Clarke, a senior advisor with Honda which owns the Japanese track, it was a "good meeting" and he's optimistic that plans for unification will move forward.
However, in an email message to the Indianapolis Star, George warned that nothing would happen quickly, "if at all".
It's believed the Motegi officials were presented with three options - move their April race to August; move the race to the end of the season and make it a non points event; or postpone the event for one year until 2009.
The Motegi race has been part of the IRL schedule since 2003, largely because of Honda's involvement in the series. Prior to that, Champ Car staged races at the circuit from 1998 to 2002.
