In Tough Economic Times, IRL Cuts Cash Aid to Teams

Richard DeveauCorrespondent IFebruary 19, 2009

This strained economy is once again affecting motorsports, with the Indycar Series as it's latest victim.

The Indy Racing League announced Wednesday they will no longer subsidize Indycar teams like they have done in the past.

"It will be 'what you see is what you get,'" said Terry Angstadt, the league's president of competition. "We are working real hard to help secure sponsorship for teams...but writing checks we just can't do."

Last year, teams transitioning from the former Champcar World Series received free engines and cars. Other assorted subsidies have been frequent in the IRL's history.

Angstadt is "relatively secure" in having 22 full time cars this season, and a possibility there could be up to 26, equalling last year's average.