Champ Car Series

One open-wheel series!

Indianapolis, IN (Sports Network) - The front of the IndyCar Series website says it all - Done Deal. Indy Racing League owner Tony George and the owners of the Champ Car World Series have "completed an agreement in principal."

On Friday, co-owners of the CCWS, Gerald Forsythe and Kevin Kalkhoven signed the agreement in principle.

Details of a news conference have yet to be released.

It is the end of a 12-year nightmare for open-wheel racing fans who have been forced to watch two different series' struggle for attention, sponsors and quality drivers.

Over this winter, the Champ Car Series saw its four-time defending series champion Sebastien Bourdais jump to Formula One. Meanwhile, the IndyCar Series lost its defending champion Dario Franchitti to NASCAR.

Other open-wheel racers to jump ship in the last few years include: Patrick Carpentier, Juan Pablo Montoya, three-time IndyCar Series champion Sam Hornish Jr. and A.J. Allmendinger.

"This is a great day for open-wheel racing and one that I and my Rahal Letterman Racing team have looked forward to for a long time," said Bobby Rahal, three-time IndyCar champion and co-owner of Rahal Letterman Racing. "I applaud all of those that made this possible, but want to especially recognize all of those that made sacrifices and concessions to secure the future of open-wheel racing. I truly believe that this is the first step toward restoring open-wheel racing and the Indianapolis 500 to not only where it once was, but beyond."

02/22 17:09:09 ET

Powered by The Sports Network.