CHAMPCAR/CART: Walker says "No stock for sale"

Indianapolis, Sept. 7, 2000 - Walker Racing owner Derrick Walker announced today that he is not selling any of his shares of CART stock. A report went out on the financial wire services today that Derrick had filed a form 144 with the SEC to sell...

Indianapolis, Sept. 7, 2000 - Walker Racing owner Derrick Walker announced today that he is not selling any of his shares of CART stock. A report went out on the financial wire services today that Derrick had filed a form 144 with the SEC to sell a large amount of his CART shares.

The announcement that the form 144 was filed is correct, but Walker's intentions, however, were not to sell the securities now, or in the near future but to simply register the restricted stock, which he does every 90 days.

"The filing of the Securities and Exchange Committees form 144 was a requirement and doesn't reflect any intention to sell CART stock in the near future," said Walker. "I wish it would have been more clear in the filing that the registration was merely a formality, not an intention to sell."

Derrick Walker has been a team owner in the CART FedEx Championship series for 10 years. He is the only open-wheel team owner to field race teams in both the Indy Racing Northern Light Series and CART.

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Series Automotive , IndyCar