CART in Danger of Collapsing

Championship Auto Racing Teams announced a makeshift 2004 champ car schedule Thursday amid growing concerns that it may not happen.

Coincidental with the CART schedule came a Securities and Exchange Commission disclosure by CART that said it expected its cash resources to be depleted by the middle of December, which puts the open-wheel sanctioning body in peril of collapse. Already in default is a $473,000 payment that was due Oct. 8.

The earliest date that a shareholders’ vote can be taken on a buyout offer by new owners is Dec. 18. The anticipated new owners, Open Wheel Racing, plan to change the publicly owned company to private ownership.

“Without sufficient financial resources, Championship will be required to cease operations and cancel the 2004 season,” CART said in its filing. It announced losses of $77.9 million for the first nine months of the year, including a $1.7-million payment to former CEO Joe Heitzler to settle several lawsuits.

Open Wheel Racing, formed by CART team owners Jerry Forsythe, Paul Gentilozzi and Kevin Kalkhoven, has offered 56 cents a share for outstanding stock -- about $7.4 million. The opening race on next year’s schedule is at St. Petersburg, Fla., on Feb. 22. Five of the 19 races, including one at California Speedway, have no date announced, and another is “subject to final commercial terms.”

The 2003 California Speedway race was canceled because of wildfire conditions near Fontana last weekend.

The 30th Toyota Grand Prix of Long Beach is slated for April 18, but insiders say that Long Beach officials are quietly planning for the possibility of an alternate race if CART folds.

The other California race, at Mazda Raceway in Laguna Seca, has been moved from June back to its traditional September date.

Eight races are scheduled in foreign countries, three in Canada, two in Mexico and one each in Australia, England and a new one in South Korea.

The tentative schedule: Feb. 22 -- St. Petersburg, Fla.; April 18 -- Long Beach; May 16 -- Las Vegas; May 23, Monterrey, Mexico; June 5, Milwaukee; June 20 -- Portland; July 3 -- Cleveland; July 11 -- Toronto; July 25 -- Vancouver, Canada; Aug. 8 -- Road America, Elkhart Lake, Wis.; Aug. 15 -- Denver; Aug. 29 -- Montreal; Sept. 12 -- Laguna Seca, Monterey, Calif.; Oct. 24 -- Surfers Paradise, Australia.

No dates--Fontana; Seoul; Brands Hatch, England; Miami; Mexico City.

-- Shav Glick

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Greg Biffle, driving a Chevrolet, won the pole for Saturday’s season-ending NASCAR Busch Series race on the reconfigured Homestead-Miami Speedway.

Golf

Germany’s Alex Cejka and Marcel Siem combined for a five-under-par 67 to take a one-stroke lead after the first round of the World Cup in Kiawah Island, S.C.

Lorie Kane shot a two-under 70 to take a one-stroke lead over Australia’s Karrie Webb in the LPGA Tournament of Champions at Mobile, Ala.

Michelle Wie, 14, accepted a sponsor exemption to play in the Sony Open in Honolulu in January, putting her in position to become the youngest woman to play in a PGA Tour event.

UCLA will have a groundbreaking Saturday for its new on-campus golf practice range. The layout, between Drake Stadium and the Wooden Center, includes a 3,000-square-foot tee box, a 3,000-square-foot green with a practice bunker and an area for short game practice.

Tennis

The year-end No. 1 ranking already his, Andy Roddick went out and lost, 4-6, 7-6 (4), 7-6 (3), to Rainer Schuettler in the Tennis Masters Cup at Houston.

Roddick will play No. 4 Guillermo Coria today for a semifinal berth. Coria defeated No. 7 Carlos Moya, 6-2, 6-3.

In a night match, Andre Agassi qualified for one of the semifinal spots when he outlasted No. 8 David Nalbandian 7-6 (10), 3-6, 6-4.

Miscellany

The United States lost to undefeated China, 25-20, 20-25, 24-26, 25-20, 15-11, and slipped into a tie for third place at the women’s World Cup volleyball tournament in Osaka, Japan. China (9-0) clinched one of the three berths in next summer’s Athens Olympics. The U.S. (7-2) is tied with Italy in the 12-team field. Brazil (8-1) is second.

Last Saturday’s light heavyweight championship fight involving Roy Jones and Antonio Tarver at Las Vegas’ Mandalay Bay Events Center generated 250,000 pay-per-view buys, bringing in $11.5 million in revenue. In comparison, Jones’ heavyweight title match against John Ruiz last March drew 525,000 buys.

The bribery trial of Salt Lake City Olympic bid leaders Tom Welch and Dave Johnson was abruptly postponed after a key government witness was assigned a federal defender amid revelations he may have pocketed bid committee funds. U.S. District Judge David Sam said the trial would resume today.

The Long Beach Jam, in its inaugural season in the American Basketball Assn., will play its only exhibition game Saturday at 7 p.m. at the Warrior Center in Cypress. The Jam is coached by Paul Westhead.

Victor Espinoza, winning four races on the card, rode Sarafan to a one-length win at Hollywood Park. It will probably be a prep for the 6-year-old gelding’s appearance in the $4-million Japan Cup in Tokyo Nov. 30.