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?
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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).