LANSING, Mich. -- Owners of the auto racing series formerly known as CART reiterated Wednesday their plan to present a full 2004 season.

Open Wheel Racing Series partner Paul Gentilozzi said organizers plan to begin the Champ Car World Series season, as scheduled, on April 18 as CART Inc. negotiates the bankruptcy process.

"We have letters of intent from the teams representing more than 18 cars, we've got a television package ready to announce, as well as the confirmed 2004 race schedule," Gentilozzi said. "We believe the loyalty of the fans, teams, sponsors and promoters will be justified and rewarded when the current bankruptcy proceedings are completed."

Parties other than OWRS have until Friday to submit bids for the series. U.S. Bankruptcy Court Judge Frank J. Otte will issue his final decision five days later.

An IRL representative said on Thursday that the league had yet to decide whether it would bid on any of the CART assets.

"We've got a lot of people working," IRL spokesman Fred Nation said in an Associated Press story posted on the Indianapolis Star's Web site. "We had to work on multiple tracks since there's a very compressed period of time here."

It had been reported that the IRL was exploring whether to bid on scoring and safety equipment and trailers, though OWRS representatives believe the IRL is trying to shut down the Champ Car series. OWRS would continue the series if it acquires CART's assets.

"Intentions have been clear from the start. We believe in the value of the Champ Car series," Gentilozzi said in a statement. "Is it imperfect? Yes. Can it be improved? Absolutely."

Gentilozzi, one of two team owners who reached agreement to buy CART last September, rejected any suggestion of a merger with the rival Indy Racing League.

"We have a plan and we will do whatever it takes to restore the Champ Car series to its rightful status as the best open-wheel series," he said. "We don't need or want those guys across town. ... The momentum is decidedly against unification with the IRL and to hold firm in our efforts to maintain the forms of racing that Champ Car has established."

OWRS partner Kevin Kalkhoven noted that IRL officials have said they cannot add road or street races to their 2004 schedule. There are at least 13 road or street races on the Champ Car circuit.

"The loss of the Champ Car series would mean the teams -- all based in the United States -- would close down, resulting in the loss of hundreds, maybe thousands, of American jobs," Kalkhoven said. "As we've said before, the IRL wants to bury, OWRS wants to build. That's the difference."