Champ Car Arizona Grand Prix Canceled Due to Lack of Sponsors

Grand Prix Arizona, the season- ending race in the Champ Car World Series, has been canceled after organizers failed to raise enough corporate backing for the Dec. 2 event in Phoenix.

``An event of this magnitude requires considerable corporate support and though we did establish some outstanding partnerships, there were simply not enough of these to create economic viability,'' Dale Jensen, owner of the company set up to promote the race, said in a statement posted on the Grand Prix Arizona Web site.

Holders of tickets to the event will have their money refunded, the statement said. Jensen's company, which also promotes the Vegas Grand Prix in Las Vegas, said that April 6 race won't be affected.

The cancellation is the second for Champ Car this year. In February, the open-wheel racing body shelved its Denver race, which was to be held this month, because of a scheduling conflict. Champ Car spokesman Tom McGovern confirmed that the Phoenix race is off.

The 15-race Champ Car season will now end in Mexico City on Nov. 11 and won't return to the U.S. until next year. The next event is slated for Aasen, Netherlands, on Sept. 2.

(Source: Bloomberg.com)