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The IZOD IndyCar Series is the premier level of American open wheel racing. The current championship, founded by Indianapolis Motor Speedway owner Tony George, began in 1996 as a competitor to CART known as the Indy Racing League (IRL). Citing CART's increasing reliance on expensive machinery and overseas drivers, George aimed to create a lower-cost alternative. In 2008, the IndyCar Series merged with the Champ Car World Series (formerly CART). The series continues to be sanctioned by the Indy Racing League. - Source: Wikipedia