IRL posts bid for CART assets.

What could become the final battle between the warring Champ Car and Indycar factions appears to have begun, following news that the Indy Racing League has tabled an offer for the CART assets wanted by Open Wheel Racing Series.

The Indianapolis Star reports that the judge handling the 'sale' of the assets received 'a substantial offer' from the IRL to acquire them - and prevent OWRS from restarting the Champ Car World Series in 2004. Former CART team owners Gerald Forsythe, Paul Gentilozzi and Kevin Kalkhoven had hope to run unopposed in the bidding in order to resurrect Champ Car racing following the collapse of a bankrupt CART operation.

All bids are due to have been lodged with US bankruptcy judge Frank Otte by 0930hrs today [Friday], with a decision on who will be able to acquire the assets to follow by the middle of next week. The bid from the IRL is seen as sounding a potential death knell for Champ Cars - from which it split over ten years ago. The oval-only series has stated an interest in adding road courses to its schedule from 2005, and would acquire vital contracts to do so should it be adjudged the best buyer of the assets.

Refusing to be dismayed by news of the rival offer, Gentilozzi told the Indianapolis Star that IRL president Tony George's offer would have to be 'substantial' to topple that posted by OWRS, which is rumoured to total $1.6million in cash. The group has the opportunity to revise its bid before the final ruling on sale next Wednesday. Gentilozzi also hinted that OWRS would be prepared to increase its offer, without disclosing by how much.

"I promise you, we're not going to lose this deal," Gentilozzi said last night [Thursday].

Gentilozzi went on to predict that the winning bid for all of the assets and liabilities would be in excess of $14 million, based on monies owed to teams from 2003, and that owed to creditors who might see their contracts dissolved in bankruptcy court if OWRS loses the bidding war.

The Rocketsports team owner said that George was only bidding in order to kill off Champ Car racing once and for all.

"What [might have] looked like a decent deal [for George] isn't a deal anymore," he said, "What he's looking for is a CART funeral - and all of a sudden it's a real expensive funeral."

"His vision is clear - he wants to oval race on NASCAR's tracks with a couple of road course races thrown in to satisfy a few sponsors," Gentilozzi said, "That's not our vision at all. We want to make CART great again."

The IRL declined to comment on its bid, only pointing out that it was for 'some of the assets'.