An "armistice" could be in the works between CART and
the IRL, according to BRANDWEEK's Terry Lefton, who cites a
"well-placed source" as saying "an oral agreement has been
reached for a merger by 2001 at the latest." CART officials
were in Indianapolis last week meeting with IRL execs. The
source: "Everything we're doing now is based on the premise
that there will be one circuit within two years." Lefton
reports that there's a deadline of around 30 days "to work
out [the] technical details," such as what type of engine to
use, "after which a reunified league would have to start in
the 2001 season." CART, through its sponsorship agency ISL,
"would sell all commercial rights, while what's left of the
IRL, under Tony George, would be the sanctioning/governing
body for the circuit." One "internal estimate" has the new
entity earning an "additional" $8M in sponsorship revenues
per year "once duplication is eliminated" Lefton notes that
potential sponsor conflicts include Valvoline/Pennzoil,
Mercedes/Oldsmobile and A-B/Coors (BRANDWEEK, 7/12).
OFF THE TRACK: In Cleveland, Roger Brown reported that
CART owners "recently held a private meeting" in the area to
discuss "the prospect of putting on a local race to compete
directly with next summer's Cleveland Grand Prix, which just
dumped CART for the [IRL]." The race could be held outside
Cleveland but within Cuyahoga County (PLAIN DEALER, 7/11).
