Meira saves Panther Racing
02/10/06 This rumor is upgraded to 'strong' today. The past few months have been a struggle for Indianapolis-based Panther Racing, but officials said Thursday that the future is getting clearer. The race team will continue in the Indy Racing League, although it will scale back to a one-car operation in 2006. Vitor Meira signed Thursday to drive the No. 4 car that will still carry Pennzoil sponsorship in some form. Gary Pedigo might not remain a part of the ownership group, but the team, which had a public auction earlier this week to improve its cash flow, will keep its name, its building on the city's Southwestside and its small-team determination.
Pedigo said the predicament is tied to the popularity of NASCAR, which fields more than 130 teams among its Nextel Cup, Busch and Craftsman Truck divisions. "It sucks up every sponsorship that's out there and leaves only a few crumbs for (open-wheel racing), and that's the problem," he said. Panther likely needs at least $5 million to participate in the IRL this year with one car. Indy Star
[Editor's Note: Earth to Pedigo – Ask Tony George why he split Indy Car racing in half by creating the IRL, thereby, destroying it, when in 1995 under CART the sport was as big or bigger than NASCAR. Meanwhile the Top NASCAR teams are SOLD OUT when it comes to space. You literally cannot get any more space on a Childress, Hendrick, Roush, or Evernham car unless they field a new car.]
02/09/06 Rumor has it that tomorrow Panther Racing will announce they have been saved (some say by Vitor Meira who is rumored to come with enough cash in a suitcase) and the team will run a 1-car effort in 2006 rather than folding. Some speculate that Tony George may also be helping the team secretly.