Tuesday, February 12, 2008

Bankruptcy du jour?

According to the just published article by Robin Miller,Champ Car may be on the verge of filing for Bankruptcy within the next 24-48 hours, although Steve Johnson, CCWS’s president is doing his best damage control by stating that rumour has been circulating for the past 18 months.

Nevertheless, something definitely seems to be going on in Indianapolis, where both Champ Car and the Indy Racing League headquarters are located, as CCWS seems to be not answering their phones and telling all of their employees to keep the lights turned off!

As Miller notes, could this be just one part of the end game to see the consolidation of the two warring entities finally emerge as a unified Open Wheel racing series.

While Tony George is still optimistic of making something happen for 2008, Kevin Kalkhoven still vehemently denies that Champ Car is going anywhere soon. But, it’s interesting to note that Carl Haas will be potentially left holding $2 million of Panoz parts if (when) Champ Car implodes, as the losers in this sweepstakes seem to be the track operators who aren’t in cahoots with Champ Car owners…

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