According to USA Today, the latest twist in the downward spiral of CART is a possible buyout bid from none other than the Indy Racing League. According to one theory, the IRL is interested in purchasing some of CART's assets such as safety equipment for use in the IRL. The more sinister theory is that the IRL will buy the whole kit and kaboodle out from underneath Open Wheel Racing Series (OWRS), the supposed saviors of Champ Car racing. Paul Gentilozzi, one of the OWRS principals, vow to fight any takeover bid.
The great irony is that the real winners in all this may by CART's embattled shareholders. The interest from the IRL, regardless of intention, may drive the OWRS purchase price above the original $1.6 million bid.
Wednesday, January 14, 2004
Isn't This Over Yet?!?
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