LANSING, Mich. -- A day after the IRL submitted a bid for the circuit formerly known as CART, owners of the Open Wheel Racing Series once again have reinforced their commitment to keep the competition going this year.

The IRL IndyCar Series beat Friday's deadline to submit a bid in U.S. Bankruptcy Court. Judge Frank J. Otte will render a final decision on the disposition of the CART assets.

"We stand by what we've said previously," OWRS partner Paul Gentilozzi said Friday. "We will do whatever it takes to save the Champ Car series and ensure its success into the future.

"Last-minute posturing and provocation by Tony George and his organization only serve to strengthen our commitment and dedication to do what's right for motorsports. To coin a phrase, 'Failure is not an option.'"

Gentilozzi, Gerald Forsythe and Kevin Kalkhoven on Wednesday announced their commitment to running a full schedule in 2004. But if the IRL is successful in acquiring CART's assets, the circuit will have to start from scratch.

Gentilozzi also said the series has "teams representing more than 18 cars, a creative television package and a great race schedule all ready to go."

"Our plan calls for a win-win situation for the teams, creditors, sponsors, promoters and the fans -- a fact that will not go unnoticed in the courtroom next week," he added.

Kalkhoven added his take on the issue.

"The IRL bid specifically excludes the teams and their employees," he said. "Furthermore, it excludes the other races and promoters which reached more than two million fans. Their bid does not take into account the tens of millions of dollars of future liabilities that would be accepted by OWRS. We intend to preserve the teams and sponsors.

"No amount of posturing by the IRL will determine the ultimate fate of the Champ Car series. The issue will be decided in a court of law, based on the facts presented."