AGREEMENT IS CLOSE.(Competition)(multople briefs)

CART's board of directors met for a full day the week after the race in Denver to consider the buyout offer from Open Wheel Racing Series LLC. The board took no action, but the session produced an agreement in principle to accept the offer at 50 cents a share or slightly higher. That same day CART filed a document with the Securities and Exchange Commission that essentially allows it to accept such an offer.

Lawyers were directed to draw up documents, and the offer should be accepted shortly after this issue is printed. OWRS might be a relatively new entity, but CART's sale remains ...

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