Ecclestone may buy stake in Cart series

Bernie Ecclestone is reportedly interested in buying a majority share in the Cart racing series and turning the rival circuit into a training ground for Formula One.

Cart has been struggling in recent years and next season loses some engine manufacturers and teams to the Indy Racing League. Ecclestone, the head of Formula One, and Chris Pook, Cart's president and CEO, have met recently but neither would say what was discussed.

The reports, in the Toronto Sun, said Cart's board of directors will consider selling 51 per cent of its shares to Ecclestone. Company by-laws prevent any shareholder from owning more than 10 per cent, although the directors could vote to change that.

F1 has raced on five continents, including North America, in recent years, but there was no race in the United States for nearly a decade until F1 began staging the US Grand Prix in 2000 at Indianapolis.

Adam Saal, a Cart spokesman, would not confirm that negotiations with F1 were taking place. "It would be inappropriate to confirm or deny, but I can say that Chris and Bernie have been good friends and good associates and talk on a regular basis and always have," he said.

The Cart series champion, Cristiano da Matta of Brazil, was one of several drivers who were enthusiastic about a possible deal with F1. "I think it would be good news," he said. "The relationship has always been there. Drivers from F1 are migrating to Cart and vice versa. It's the two top series in the world and two most competitive series in the world and there is room for both of them."