Champ Car filing for bankruptcy?

rfuerst911sc · 02-12-2008, 02:14 PM

I saw on Speed.com that Robin Miller is reporting that Champ car is going to file bankruptcy possibly in the next 24-48 hours. Is this the beginning of a unified open wheel series? Will the IRL gobble up sponsors,drivers and race venues? Does anyone think a new IRL would run ovals,street circuits and road courses in the U.S. and abroad? I like some of what the IRL is doing like paddle shifting and some of their safety measures but I'd like to see some more American driver involvement. So what are your opinions on this possible development?

dd74 · 02-12-2008, 02:24 PM

IRL sucks. F1 should be a long-standing venue in this country.

Porsche-O-Phile · Porsche-O-Phile's Garage

Any implications for LBGP? This could get very interesting and/or ugly quickly.

Porsche-O-Phile · Porsche-O-Phile's Garage

Quote:

Originally Posted by dd74

IRL sucks. F1 should be a long-standing venue in this country.

Nope. Tony George managed to f*ck that one up too. No USGP this year and I believe next year also.

kang · 02-12-2008, 02:25 PM

Here's the article:

http://auto-racing.speedtv.com/article/champ-car-heading-for-bankruptcy/

dd74 · 02-12-2008, 02:29 PM

Quote:

Originally Posted by Porsche-O-Phile

Nope. Tony George managed to f*ck that one up too. No USGP this year and I believe next year also.

Why is it only Tony George who can coax F1 into The States? There's tons of car and car racing money rolling around the U.S. that could formulate a plan to bring F1 here.

Just one name that comes to mind: Marriott - of the hotels. Old geezer, but has a *****load of high-performance cars. He's also a billionaire, so he could help finance it too.

Porsche-O-Phile · Porsche-O-Phile's Garage

Makes sense to me. It'd be nice if he (or someone) could step up. However I don't know if he has some sort of exclusive-rights agreement or what. Ecclestone is as much to blame as T.G. is too.

I suspect since nobody offered to step up right after the F1 USGP talks broke down last year, nobody is going to now.

Buckterrier · 02-12-2008, 02:37 PM

The F1 guy, Bernie Elke something or other, wanted 30mil from George to run the race here, up from 15 mill. I think George is a toad but I don't blame him for not putting up with that. George ruined open wheel racing in the US. But it can come back. I've turned to the AMLS and somewhat the Grand AM seriers for my sports car racing fix.

the · 02-12-2008, 03:25 PM

Quote:

Originally Posted by rfuerst911sc

I saw on Speed.com that Robin Miller is reporting that Champ car is going to file bankruptcy possibly in the next 24-48 hours. Is this the beginning of a unified open wheel series? Will the IRL gobble up sponsors,drivers and race venues? Does anyone think a new IRL would run ovals,street circuits and road courses in the U.S. and abroad? I like some of what the IRL is doing like paddle shifting and some of their safety measures but I'd like to see some more American driver involvement. So what are your opinions on this possible development?

If it happens, it will be interesting to see where it goes.

If it were a Chapter 11, Champ Car would try to reorganize and continue.

But if it is a 7 (either filed originally as a 7, or converted from an 11 to a 7 after the attempt to reorganize and survive fails), Champ Car in its current form would cease to exist. The assets would be sold.

The IRL could buy all of the assets from the Bky estate, and thus "unify" open wheel racing. Or, a third party investment group could buy the assets and try to get the race series going again (which is apparently what happened in 2004).

strupgolf · 02-12-2008, 04:43 PM

I dont blame Tony for not bending over for Bernie for 30 Big ones. Bernie is a scap on the entire F1 sport. I would not beleive anything Robin Miller says, he is quite the Blowhard, he likes to hear himself talk. I did'nt think ChampCar would make the grid this year. Too many questions and too many owners. Tony has been wanting this for years, and if it happens, great, for the entire sport. 1 series, 1 champ. I know the ChampCar is higher tech, but hey, we have all been dumbed down for the last few years with Nascar and such going to one make, one race, etc.

motion · 02-12-2008, 05:14 PM

It looks like ChampCar might file BK to avoid lawsuits that would come from many directions if the "merger" does happen. I really don't see it as a merger.... ChampCar will be dissolved and a few teams will take FTG up on his offer of a free car and engines. Oh, and 4 previously ChampCar races will be added to the schedule (including the LBGP).

What about all of the Panoz cars and parts? What about the Atlantic series and the 24 cars at the last test session? What about the 10 other teams that will be left holding the bag? What about the 10 other races scheduled this year?

Yeah, I can see the attorneys lathering right now and ready to go. It will be messy. I think the 3 Amigos are done spending money and are just throwing in the towel. I feel bad for Gerry Forsythe. He is the lone Indian here.

pwd72s · 02-12-2008, 05:22 PM

Quote:

Originally Posted by dd74

IRL sucks. F1 should be a long-standing venue in this country.

Yeah! Bernie NEEDS to have more money. I'm waiting for the Daytona five "hunnerd"...almost as much as I wait for the world series and the superbowl.

Sorry DD, but I'm sick of hearing the leftie tripe that the rest of the world is somehow better than the USA. FUG the "Urpeens" and their race series with the pretty boy "gentleman" drivers. Sure the cars are the ultimate in technological development...but this means boring "follow the leader" racing.

Gimme a good outlaw race on a dirt track...THAT'S REAL RACING!

strupgolf · 02-12-2008, 05:30 PM

Yea Motion, they are just throwing in the towel. All of those teams, cars, engines, crews, are now worthless. I guess it happens in all sports, business, etc, but its another day in the life of auto racing. I do hope that Forsythe comes out on top and gets a Indy win.

CurtEgerer · CurtEgerer's Garage

Raphael Matos (who turned down a $2MIL Champcar ride for winning the FA championship last year for a Pro Series drive with Andretti) is going to look like a genius if Champcar folds.

turbo6bar · 02-12-2008, 06:26 PM

The bankruptcy sucks. I was starting to enjoy the series. The Champcar street courses are more exciting than the IRL ovals, and who doesn't like that whiner Paul Tracy?

strupgolf · 02-12-2008, 06:39 PM

Yea, but if IRL brings in Long Beach and Road America, Cleveland, etc, it will be hard to stay away from the TV.

Buckterrier · 02-13-2008, 03:43 AM

Honda, in Japan, won't change their date, (which conflicts with LB), & LB can't change theirs.

Porsche-O-Phile · Porsche-O-Phile's Garage

Quote:

Originally Posted by turbo6bar

The bankruptcy sucks. I was starting to enjoy the series. The Champcar street courses are more exciting than the IRL ovals, and who doesn't like that whiner Paul Tracy?

Agreed. The oval-track circuits are almost as boring as NASCAR.

Buckterrier · 02-13-2008, 11:16 AM

Quote:

Originally Posted by Porsche-O-Phile

Agreed. The oval-track circuits are almost as boring as NASCAR.

I'll have to disagree with that one. Ever see any of the races at MIS or Texas Int.? Man, drafting at 230mph. Swooping, diving, flat out ripping for 500 miles. But yes I prefer watching road courses for sure.

Porsche-O-Phile · Porsche-O-Phile's Garage

I can get all the excitement of NASCAR by watching my neighbor's dog chase his tail.