Championship Auto Racing Teams Inc. said Wednesday it took the one-time pretax charge to settle a suit filed by Texas Motor Speedway and wound up with a $1.7 million loss for the third quarter despite increased income.

The inaugural Firestone Firehawk 600 was canceled two hours before it was to start April 29 because drivers complained of dizziness after practices earlier in the weekend. There were fears drivers could lose consciousness while going more than 230 mph during the race.

TMS was seeking reimbursement of a $2.1 million sanctioning fee paid for the race that was never run, plus unspecified damages for promotional expenses and unrealized profits. The track issued refunds for more than 60,000 tickets after the cancellation.

The amount that CART paid to settle the suit was not disclosed when the agreement was announced Oct. 16.

CART spokesman Ron Richards said Tuesday the $3.5 million charge covered the settlement amount and related legal expenses. A confidentiality clause prevented further comment.

CART also took a one-time charge of $8.5 million during the quarter for its decision to discontinue its Dayton Indy Lights Championship after this season. CART made the announcement Sept. 10.

The final Indy Lights race will take place Nov. 4 in Fontana, Calif.