STATEMENT FROM LOLA
Official Release

Lola was unable to come to a mutually acceptable agreement with the Indy Racing League regarding 2003-2005 chassis construction within their time deadline. As you might expect, we had gone a long way toward construction, committing nearly $1 million in design and development and were on the road to producing another Lola oval winner.

Ben Bowlby and his design team produced an excellent car, one which had superb figures in wind tunnel testing. Based on that, Lola had verbal commitments in hand from several teams for our new Indy Racing chassis.

Given the likely implications of this loss of business and the effects on [over] capacity, we will not venture into questions about future new products at this time. For the next few weeks, our efforts are focused on winning at Milwaukee, Laguna Seca and Portland, as well as fashioning good results at LeMans.

That said, we are delighted to be so deeply committed to our CART program. The FedEx Championship is a great series, one that has no true horizons, has new engine partners and new opportunities.