NAZARETH, Pa. -- Panther Racing team owner John Barnes was willing to offer two-time Indy Racing League champion Sam Hornish Jr. $4 million a year and a chance to drive in selected NASCAR Winston Cup races with Richard Childress.

The only problem was Hornish and his agent, John Caponigro, never gave Barnes a chance to make that offer.

Hornish and Caponigro informed Barnes and Panther Racing on Monday the team was out of the running and there was no need to make another offer to the 24-year-old driver from Defiance, Ohio.

"I told that to Michael Andretti and he said, 'That's a lot of money. I can't believe he turned it down,'" Barnes told SportsTicker Saturday morning at Nazareth Speedway. "I told Michael, that's because we never got a chance to offer it to him."

According to another IRL team, Hornish's asking price was $3 million for the first year. Panther was ready to up that by $1 million more but was told a deal was already completed.

"I was told that it's going to be a three-car team at Penske Racing," Barnes said. "Now, do you think Gil de Ferran and Helio Castroneves are going to greet Sam with open arms? I think he's making a big mistake."

Penske Racing president Tim Cindric repeatedly said he would jump at the chance to hire Hornish if there was an opening on the team. Team owner Roger Penske has said he was only running a two-car team next year.

Barnes has reason to believe that's going to change.

"Roger is about the only one who could pull this offer and keep it a secret," Barnes said.

Hornish and the other drivers in the IRL are in Nazareth preparing for Sunday's Firestone Indy 225.