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post #1 of 2 (permalink) Old 10-24-02, 06:06 AM Thread Starter
Mr. Embargo
 
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Cart officials deny merger talks

From BBC Sport:

Cart officials have denied they have been in talks with Formula One over a possible merger of the two racing series.
Earlier this week, reports suggested that Cart president and chief executive Chris Pook and Formula One chief Bernie Ecclestone were holding discussions over a possible merger.

"We are not in negotiations with Formula One," Cart communications vice president Adam Saal said at the Honda Indy 300.

"There have been a lot of very aggressive and thorough reports, but a lot of this is built on what has been an excellent rapport between Pook and Ecclestone.

"They've worked together for more than 30 years, they've maintained a long friendship and association. To read anything else into it would be premature."

Ecclestone was reported to be looking at buying 51% of Cart's shares.

It is understood however, that under current series rules no Cart shareholder can own more than 10% of shares.

A change to that ruling can only be made by the board of directors.

Any proposed deal would see Ecclestone take control of both championships, with Cart likely to be used as a training ground for F1.

Cart has been hit by a loss of sponsorship, with engine and chassis manufacturers leaving the series.

*Retired.
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post #2 of 2 (permalink) Old 10-24-02, 02:30 PM
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Then this:

http://www.pitpass.com/news2/news.cfm?newsid=3828

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