Pettit buys RuSPORT

The team had looked set to close its doors after founder Carl Russo announced recently his intention to make a swift exit from racing.

But Pettit – one of the three founders of rival team PKV Racing, stepped in to take over the squad.

Jeremy Dale, who will remain as president of the team, said: “I would like to start by thanking Carl Russo for all of his support and vision these last four years.

“He gave all of us a great opportunity and has been a great supporter of ChampCar and we are all very thankful for that.

“I'm very excited about Dan Pettit and his ownership position with the team. With what Carl has created and with Dan's vision looking forward, we will continue to flourish.

“Dan's involvement with RuSPORT in 2007 and beyond will make things very exciting.”

It appears that the RuSPORT name will be retained into the new season – despite the change of ownership.

The team ran Justin Wilson to second place in the drivers' championship this year and Dale admitted recently that it was his chief ambition to keep hold of his prize asset for 2007.