IRL-Champ Car update

A decision on the potential merger of the Champ Car World Series and the Indy Racing League is expected within 48 hours, said a spokesman from American Honda Motor Company.
While Tony George, the founder of the IRL, and Robert Clarke, the outgoing president of Honda Performance Development, were in Japan talking with track officials at Twin Ring Motegi about moving the IRL race there to a date later in the year, Champ Car teams in the United States were waiting for any news of the negotiations.
Rumors are circulating that Champ Car will file for bankruptcy on Tuesday, a move that would signal a merger is imminent.
One Champ Car owner said the bankruptcy rumor is gaining momentum around Indianapolis, where the Champ Car World Series is headquartered and a number of teams are based.
Derrick Walker, owner of Walker Racing, said, "If there's a merger happening, it's not going to be pretty."
"Bankruptcies never are," he said. "I would like to think it wasn't, but it's probably a distinct possibility. I haven't heard anything official, I've just heard the rumors."
Tyler Tadevic, team director for the Oxnard-based Pacific Coast Motorsports, which has a two-car team in Champ Car, said his team is working on a contingency plan if Champ Car does file for bankruptcy. He said his team is looking into a number of options, including the IRL, American Le Mans Series, Grand-Am Rolex Series and off-road racing.