Kalkhoven 'delighted' with Long Beach decision.

Champ Car World Series co-owner Kevin Kalkhoven, one half of the Aquarium Asset Management group who acquired the rights to run the Grand Prix of Long Beach, has pronounced himself 'delighted' at the city council's decision to approve the future running of the event as a round of the Champ Car World Series until at least 2010.

Kalkhoven and fellow series co-owner Gerry Forsythe bought the Grand Prix Association of Long Beach for $15 Million last month from Dover Motorsports Inc, thus securing the races future as a Champ Car event providing the city council approved the deal.

On Tuesday, the city council voted and unanimously approved the sale, which now all but guarantees a Champ Car event at Long Beach until at least 2010. Champ Cars have been the featured event of the Toyota Grand Prix of Long Beach weekend since 1984.

"We are delighted that the Toyota Grand Prix of Long Beach will be a partner of the Champ Car World Series for years to come," said Kalkhoven. "This is a world-class event and we plan to continue to grow the race for the good of Long Beach and the Champ Car series."

"It is very gratifying to see the unanimous support that the City Council has given to this transaction," said Jim Michaelian, president and CEO of the Grand Prix Association. "It is another reflection of the extraordinary 'public-private' partnership that this event enjoys with the City of Long Beach. Our new relationship with Champ Car should result in an even more exciting race here in 2006."