CHAMPCAR/CART: New stock symbol for CART

Troy, MI (July 27, 1998) - Championship Auto Racing Teams, Inc., has announced that, effective immediately, its New York Stock Exchange stock ticker symbol will be changed to MPH. "MPH is a natural choice for a company such as ours. At the...

Troy, MI (July 27, 1998) - Championship Auto Racing Teams, Inc., has announced that, effective immediately, its New York Stock Exchange stock ticker symbol will be changed to MPH.

"MPH is a natural choice for a company such as ours. At the time of the initial public offering, we knew that MPH would become available to us and we are delighted to make the change," said Craig.

Since the company's IPO on March 10 there have been a number of significant developments. It purchased both the American Racing Series (ARS) and Pro-Motion Agency which operate the PPG Dayton Indy Lights Championship and the KOOL Toyota Atlantic Championship, respectively. It also recently announced a long-term agreement with ISL Marketing to handle the sale of sponsorship programs for the three racing series.

CART owns, operates and markets the FedEx Championship Series, North America's premier open wheel racing series. CART will conduct 19 race events in five countries and on four continents in 1998 and features drivers such as Michael Andretti, Bobby Rahal, Al Unser, Jr., 1996 series champion Jimmy Vasser and defending PPG Cup champion Alex Zanardi.

CART also owns, operates and markets the PPG-Dayton Indy Lights Championship, a 14-race series of open wheel events, as well as the KOOL Toyota Atlantic Championship, a 12-race, open-wheel racing series. Many of the events in both series are conducted in conjunction with FedEx Championship Series races throughout North America.

Source: CART Online

Be part of something big

Write a comment
Show comments
About this article
Series IndyCar
Drivers Michael Andretti , Jimmy Vasser , Bobby Rahal , Alex Zanardi , Al Unser