FONTANA, Calif. -- California Speedway should not have been included on CART's 2004 schedule unless the track is reimbursed $2.5 million for the canceled King Taco 500.

The speedway was listed as hosting an event to be determined on the schedule released Thursday. Speedway president Bill Miller said it was "misleading'' for CART to include the track.

"It is our position that there is no valid official organizer-promoter agreement in place for a 2004 CART competition at California Speedway,'' Miller said in a statement Friday.

The speedway is in litigation with CART after the King Taco 500, scheduled for Nov. 2, was canceled because of wildfires burning in San Bernardino County, Miller said.

Citing its agreement with CART, Miller said the speedway is due back the $2.5 million organization and rights fee previously paid, minus a mutually agreeable amount for legitimate expenses incurred by CART in preparing for the event.

"Until this matter is resolved, we are unwilling to participate in discussions concerning future relationships,'' Miller said.

CART warned Thursday it could run out of money next month before shareholders consider a buyout offer to keep the series going. The Champ car series also disclosed in a Securities and Exchange Commission filing that it was in default on some of its financial obligations.

Indianapolis-based CART did not immediately return a telephone message.