Hunter-Reay explains exit from Red Bull search.

Leading American junior Ryan Hunter-Reay has withdrawn from the recently announced list of candidates selected by ex-racer Danny Sullivan for the inaugural Red Bull-backed US F1 driver search.

Tipped to be among the favourites to progress from the initial 15-man short-list, the Formula Atlantic frontrunner shocked observers when he withdrew from the party travelling to France for the second stage of the competition. With speculation begin to swell after he announced his decision, Hunter-Reay decided to come clean and explain his reasons for pulling out of the scheme.

"I am very honoured to have been selected as one of the inaugural nominees in the Red Bull Formula One driver search, and it was with a heavy heart that I found it necessary to withdraw from the competition," he said, "However, after consultations with my management team, we did not believe it appropriate for me to continue in the programme due to fact that we are in the advanced stages of negotiations for me to drive with a front-line Champcar team in CART next year."

The former Barber Dodge stand-out is being linked with a number of CART teams, but refuses to confirm which one is likely to get his signature on a contract.

"I hope to be able to make a formal announcement as to my racing plans for 2003 within the next month, although I would like to reiterate that my ultimate goal remains to race in F1," Hunter-Reay said, "I want to express my sincere appreciation to Red Bull, Danny Sullivan, Maria Jannace, and the whole Red Bull Driver search programme. It was a wonderful experience - I learned quite a lot in a short period of time, I trust they will keep their eye on me next season and that, perhaps, our paths will cross again in the future."