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CART Announces 1999 Race at Sportsman's Park In Chicago

9 April 1998

CART Announces 1999 Race at Sportsman's Park In Chicago

    DETROIT, April 9 -- Championship Auto Racing Teams, Inc.,
today announced that its Board of Directors has authorized the
Company to stage a round of the 1999 FedEx Championship Series in the Chicago
area.
    The Championship Car race will be promoted by Chicago Motor Speedway at
Sportsman's Park in Cicero, Ill.  Chip Ganassi, a Director of the Company, is
a co-manager of Chicago Motor Speedway.
    The Chicago Motor Speedway at Sportsman's Park is a new dual-purpose track
that will accommodate both horse racing, on a seven furlong track, and auto
racing, on a one-mile ovalcourse.  CART has entered into a five-year sanction
agreement with Chicago Motor Speedway, which calls for sanction fees payable
to CART in the amount of $1.75 million for 1999 and escalating thereafter.
    Company officials will participate in a news conference today at 11 a.m.
CT at Sportsman's Park, 3001 S. Laramie, Cicero, Ill. 60804.  Track tours will
be conducted at 11:40 a.m.
    CART completed the third round of its 1998 season this past Sunday at the
Toyota Grand Prix of Long Beach, where defending series champion Alex Zanardi
of Italy won his first race of the season on the streets of that California
city.  The next round of the FedEx Championship Series is scheduled for
April 24-26 in the Bosch Spark Plug Grand Prix presented by Toyota at Nazareth
(Pa.) Speedway.
    CART's open-wheel, 800-plus horsepower race cars are capable of speeds of
more than 240 miles per hour and are driven by such names as Michael Andretti,
Bobby Rahal and Al Unser Jr.  The FedEx Championship Series visits five
countries on four continents in 1998.
    Championship Auto Racing Teams, Inc., became a publicly traded company on
March 10 and owns, operates and sanctions the premier open-wheel motorsport
series in North America, the FedEx Championship Series.  CART is responsible
for organizing, marketing and staging each of the events in the 19-race
series.

SOURCE  Championship Auto Racing Teams, Inc.