ChampCarWorldSeries

The fallout from the Indy Car/Champ Car merger has begun to rear its ugly head. First, superpower team Forsythe Racing announced its departure from the scene. and now Champ Car has officially filed for bankruptcy. The disruption of the scheduled 2008 Champ Car season leaves contracts broken and bills to pay, but no event revenue to balance the budget. Bankruptcy court papers reveal that the dying series has a multitude of creditors knocking on its door.

We had just reported that an agreement to reunite the estranged U.S. open wheel racing series of the Indy Racing League and Champ Car World Series was all but inked, and now it is officially official.