Toyota Atlantic Championship Presented by Yokohama part of Open Wheel Racing Series, LLc. asset purchase. INDIANAPOLIS (January 30, 2004) - As part of Wednesday's decision in U.S. Bankruptcy Court in Indianapolis in which Judge Frank J. Otte ...
Toyota Atlantic Championship Presented by Yokohama part of Open Wheel Racing Series, LLc. asset purchase.
INDIANAPOLIS (January 30, 2004) - As part of Wednesday's decision in U.S. Bankruptcy Court in Indianapolis in which Judge Frank J. Otte awarded assets of CART, Inc. to Open Wheel Racing Series, LLC (OWRS), OWRS partners, Paul Gentilozzi, Kevin Kalkhoven, and Gerald Forsythe have agreed to purchase Pro-Motion Agency, Ltd., which operates the Toyota Atlantic Championship Presented by Yokohama.
"I am delighted that OWRS has shown a strong commitment to Toyota Atlantic, and I am very pleased that OWRS has agreed to purchase the series," said Vicki O'Connor, Toyota Atlantic president. "Likewise, I am pleased that Judge Otte provided the opportunity for the series to live on in good health under OWRS. Everyone associated with the Toyota Atlantic Championship-from the series staff to our drivers and teams-has a strong belief in the series and its ability to develop championship-caliber open-wheel racing drivers."
The Toyota Atlantic Championship celebrated its 30th anniversary in 2003, and is widely regarded as the premier open-wheel driver development series in North America. Of the 27 drivers who competed in 2003 Champ Car World Series events, nine had some previous experience in Atlantic competition. In addition, 66 of the 300 drivers who have driven in Champ Car races from 1979 through 2003 had previous Atlantic experience. The series has also produced two Formula 1 World Champions, as well as race- and championship-winning drivers in various other levels of auto racing worldwide.
"Toyota Atlantic is an extremely important part of our plans moving forward," said Gentilozzi. "We're well aware of the series' history of success, and we're committed to seeing the series continue to succeed for many years to come. Toyota Atlantic races will continue to be an integral part of our race weekends, along with Champ Car World Series and Trans-Am racing among other events. The series provides good entertainment and great racing for our fans."
Added Kalkhoven: "This past year, we were reminded once again of Toyota Atlantic's many contributions to our series' talent pool when Ryan Hunter-Reay won at Surfers Paradise. I can assure you that there is a lot more talent where Ryan came from, and we fully intend to have more Toyota Atlantic drivers graduate to Champ Car competition. Likewise, we will continue to promote Toyota Atlantic as a place for talented young racers to develop their skills for many years to come."
Several announcements regarding the series' final 2004 schedule and television coverage, as well as team, driver, and rules announcements are expected in the coming weeks. The 2004 Toyota Atlantic season gets underway on the weekend of April 18 at the historic Toyota Grand Prix of Long Beach.
Toyota Atlantic is North America's premier open-wheel development series. The series is noted for its long history of graduating its stars into Champ Car competition. Among the drivers who have graduated from Atlantic are 2003 Champ Car competitors Jimmy Vasser, Patrick Carpentier, Alex Tagliani, Roberto Moreno, Ryan Hunter-Reay and Rodolfo Lavin, as well as Champ Car champions Bobby Rahal, Danny Sullivan, Michael Andretti, Jacques Villeneuve, and Paul Tracy.