CHAMPCAR/CART: CART statement on Michael Andretti announcement

INDIANAPOLIS (July 23, 2002) - Championship Auto Racing Teams Inc. (NYSE: MPH) wishes to congratulate its all-time victory leader Michael Andretti on his Monday announcement that he will enter, along with veteran team manager Kim Green, the world...

INDIANAPOLIS (July 23, 2002) - Championship Auto Racing Teams Inc. (NYSE: MPH) wishes to congratulate its all-time victory leader Michael Andretti on his Monday announcement that he will enter, along with veteran team manager Kim Green, the world of race-team ownership beginning next season.

The 1991 CART FedEx Series champion announced today that he will be joining with Green to take over ownership of the Indianapolis-based Team KOOL Green in 2003 although Andretti's own plans for driving, as well as those of his new team, are still uncertain. CART's all-time leader in wins (42), most wins in a season (8), most laps led in a career (6,564) as well as those led in a single season (1,136) and the holder of the record for the most seasons with at least one victory (15), Andretti will be making his landmark 300th career Champ Car start this weekend at the Molson Indy Vancouver - a race he has won three times in his career.

"Michael and the Andretti family have been an integral part of Champ Car racing history and we intend to do everything that we can to aid Michael in his new venture," said CART President and CEO Christopher R. Pook. "We value Michael's presence in the CART FedEx Championship Series as well as that of Team KOOL Green and hope that we can continue what has been a very strong relationship."

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Series IndyCar
Drivers Michael Andretti , Kim Green