PROCAR and CAMS reach agreement.

Motor racing organiser PROCAR Australia, CAMS and the Australian Motor Sport Commission (AMSC) have settled their differences over the Nations Cup and Carrera Cup categories.

The agreement was announced today by PROCAR Deputy Executive Chairman John Cowley, who said he now looked forward to both organisations moving ahead together.

"We are satisfied the deed of settlement ensures that PROCAR will be able to continue to develop Nations Cup under its category management agreement with CAMS and the AMSC," Mr Cowley said.

"The arrangements between us will ensure further stability in the administation of the Nations Cup, in line with PROCAR's internal focus on providing stability for the category in future years.

"All Nations Cup category management issues have been cleared up and PROCAR has now ceased legal action.

"I sincerely thank CAMS Chief Executive Rob Nethercote, AMSC Chairman David Tait and all the other officials at CAMS and AMSC who worked hard over recent months to help overcome our differences."

Dr Rob Nethercote, CAMS Chief Executive Officer, echoed Mr Cowley's sentiments. "CAMS are delighted that both parties have come up with a resolution that is win-win for all stakeholders," he said.

"It is important that CAMS and PROCAR worked together to secure the future of the categories under PROCAR's administration. PROCAR provides our sport with an important arena for CAMS National Championships, competitors, promoters, circuit operators, TV and much more and we look forward to this continuing into the future."

The deed of settlement confirms there will be no restriction in 2003 on Porsche Carrera Cup cars competing in Nations Cup races, including the Bathurst 24-Hour. The 2003 Porsche GT3 Carrera Cup model is eligible for Group Two of the Australian Nations Cup Championship.

Mr Cowley said fans could expect to see a number of Cup Car entrants on Nations Cup grids.