FOR IMMEDIATE RELEASE
CONTACT: Glenn Holland, (909) 208-0155; Tom Blattler, (909) 225-6287, info@cartstars.com
STARS/SKUSA TALKS ENDED; 2004 CLASS STRUCTURE UPDATE
HILLIARD, OH. (August 28, 2003) – The Snap-on Champ Car Stars of Tomorrow presented by RACER released the following statement regarding the previously announced intention to merge operations with Superkarts! USA.
"After understanding the situation through due diligence of the material requested by Stars of Tomorrow, LLC in its proposed purchase of SKUSA stock and/or selected assets, it was decided by the Board of Directors of Stars of Tomorrow, LLC that any such purchase would not be in the best business interests of Stars of Tomorrow, LLC or the sport of karting as well. While the philosophical arguments for a purchase of SKUSA were clear, the sustainable business model through such a purchase could not be justified.
“While those involved at Stars of Tomorrow are regretful of such a conclusion, it is the mandate of the Board of Directors to continue with the progress made during the 2003 season.”
Stars also announced a revision to the 2004 core class structure. As previously announced, ICC, ICA, and Junior ICA (JICA) will be offered in the Stars national championship next year. 80cc Junior, a Stars class this year, will continue in 2004. Junior ICC will be tabled for an indefinite period while Stars and technical representatives from karting continue research.
“There remains strong support for the 80cc Junior class,” said Operations Director Paul Zalud. “We believe the concept of an ICC motor adjusted for junior competition is a good one, but it became clear this was not time to walk away from the 80’s and that JICC needs more time and development. We will continue that work, as well as discussing with the CIK the possibilities of JICC becoming and internationally sanctioned class.”
Further class announcements as well as advance information on the 2004 national schedule will be forthcoming shortly.
The Champ Car 'Stars of Tomorrow' presented by RACER karting series is the official first level in CART's driver development system and an officially sanctioned series of WKA/SCCA Pro Racing. Founded by racing star Bryan Herta and now owned in conjunction with a group of racing veterans, including three-time CART champion and Indy 500 winner Bobby Rahal, the Stars of Tomorrow serves as the first step for the CART driver development ladder. Stars focuses on recognizing the skills of the drivers rather than the technology development within the machines, using FIA/CIK International standards. More information can be found at www.cartstars.com.
Snap-on Incorporated is a leading global developer, manufacturer and marketer of tool and equipment solutions for professional tool users. Product lines include hand tools, power tools, automotive diagnostics and shop equipment, tool storage products, automotive diagnostics software and other solutions for the transportation service, industrial, government, education, agricultural, and other commercial applications, including construction and electrical. Products are sold through its franchise dealer van, company direct sales and distributor and internet channels. Founded in 1920, Snap-on is a $2+ billion, S&P 500 company headquartered in Kenosha, Wisconsin and employs approximately 14,000 worldwide. More information can be found at www.snap-on.com.