HILLIARD, Ohio (February 21, 2000) -- Steve Horne announced today that he has resigned as president of Forsythe Championship Racing which will field the #77 Panasonic Honda/Swift piloted by Bryan Herta in the 2000 CART FedEx Championship Series.

"It was a difficult decision but I've decided that I don't want to be involved in a long-term development program at this stage in my career," said Horne. "There are a lot of good people within this team, and I don't want to be a hindrance. My heart just isn't in it."

Horne's career to date has included 95 race wins and 14 championships over the past 25 years. To take his team to the next level, Horne sold his Tasman Motorsports Group -- which competed in Indy Lights and then Champ Cars from 1993 through 1998 -- to Jerry Forsythe in January of 1999 to form Forsythe Championship Racing. The team recently announced it would field a factory team on behalf of Swift this season.

To assist in the transition internally, Horne will continue with the team through the 15th of next month.