Playa Del Racing team dead in water

UPDATE This rumor is upgraded to 'fact' today. The owners of a proposed new IRL team, Playa Del Racing, have failed to muster sufficient finances on deadline to purchase the equipment of Kelley Racing, which closed its doors recently. The team was meant to have fielded Indianapolis chief Tony George’s stepson, Ed Carpenter, and Arie Luyendyk Jr, the son of two-time Indianapolis 500 winner Arie Sr. Autosport Magazine 11/30/04 Word on the street in Indy is that the rumored new Playa Del Racing IRL team is dead in the water and Tony George's stepson Ed Carpenter is out on the street looking for a ride.