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IRL Will Not Provide Financial Assistance To Teams

Last updated on Thursday, February 19, 2009

(INDIANAPOLIS, IN) - The Indy Racing League will not subsidize struggling IndyCar series teams during the upcoming season beyond assistance with the cost of new cars.

IRL Commercial Division President Terry Angstadt says that the league is not in the position to provide financial assistance. Angstadt made his comments during a conference call on Wednesday.

Despite the recent economic downturn that has affected all levels of racing, Angstadt says they are confident that 22 to 26 cars will be on the grid when the IndyCar season begins on April 5th in St. Petersburg, Florida. Eighteen cars are expected to show up for next week's test at Homestead-Miami Speedway, including four from Andretti Green Racing and two apiece from Team Penske and Ganassi Racing.

Single cars from AJ Foyt Racing, Vision Racing, Dreyer and Reinbold Racing, Panther Racing, KV Racing Technology, Newman-Haas-Lanigan, HVM Racing, Team 3G, Conquest Racing and Luczo Dragon Racing will also be participating.

The most notable absence will be that of Rahal Letterman Racing. Team Owner Bobby Rahal announced last month that they do not have a sponsorship deal in place to field an IndyCar series team for the upcoming season.

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