Championship Auto Racing Teams

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Championship Auto Racing Teams

Sport	Auto racing
Jurisdiction	United States Canada
Abbreviation	CART
Founded	1979
Headquarters	Troy, Michigan, United States (1979–2002) Indianapolis, Indiana, United States (2002–2003)[1]
Closure date	2003

Championship Auto Racing Teams (CART) was a sanctioning body for American open-wheel car racing that operated from 1979 until dissolving after the 2003 season. CART was founded in 1979 by United States Auto Club (USAC) Championship Division team owners who disagreed with the direction and leadership of USAC, with the then-novel idea of car owners sanctioning and promoting their own series collectively instead of relying on a neutral body to do so. Through the 1980s, the Indy Car World Series became the pre-eminent open-wheel auto racing series in North America, featuring street circuits, road courses, and oval track racing. CART drivers continued to compete at the USAC-sanctioned Indianapolis 500.

Even as the series prospered, concerns about costs, competitiveness, and revenue sharing began to create opposition to CART's organizational structure. Attempts at reform, which saw the company rebranded as IndyCar in 1992^[2] and a compromise board formed, failed. In 1996, an open wheel "split" saw the newly created Indy Racing League (IRL) take full control over the Indianapolis 500 and start a competing oval-based open-wheel series. CART ceased using the IndyCar name but continued its series without participating in the Indianapolis 500.

The "split" saw a dramatic fall in general interest for open wheel racing in the United States, which was compounded by the growing popularity of NASCAR, creating a downward trend in sponsorship and attendance at some tracks. After a series of setbacks in the early 2000s saw the departure of major racing teams and engine manufacturers to the IRL, CART went bankrupt at the end of the 2003 season. In 2004, a trio of team owners acquired the assets of the series from bankruptcy, renaming it the Champ Car World Series. Continuing financial difficulties caused Champ Car to file for bankruptcy before its planned 2008 season; its assets and history were merged into the IRL's IndyCar Series, reuniting both series of American open-wheel racing.