Grand Prix Future

By: AP
By: AP
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Denver's annual Grand Prix race may have run its final lap, thanks to financial problems involving the event's owner.

An Indianapolis-based car-racing group is considering liquidating its assets, a move could threaten the Denver Grand Prix.

Championship Auto Racing Teams, or CART, reached an agreement to sell its stock to the newly-formed Open Wheel Racing Series.

The deal collapsed this week because of a declining number of teams expected to be competing.

CART has been struggling financially over the past few years.

Last summer's race brought in an estimated $26.5 million to Denver in food and souvenir sales, taxes, team expenses and track construction.

The 2004 event is scheduled for Aug. 13 through the 15.

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