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Speed TV thinks it's officially a done deal: Most Champ Car teams were told to quit working on their Panoz chassis Monday and expect delivery of their new cars in a few days. Paul Tracy is coming to Indianapolis later this week for a seat fitting. And one of Champ Car’s co-owners admitted to a fellow owner there would only be one series in 2008.

After 12 years of warring that cost open-wheel racing much of its sponsorship, audience and momentum, common sense has finally prevailed.

SPEEDtv.com has learned that the Indy Racing League and Champ Car have officially, and mercifully, agreed to become one entity. A press conference could come as early as Wednesday if Kevin Kalkhoven is back from England in time.

Following nearly two weeks of negotiations between Tony George, Gerry Forsythe and Kalkhoven, an agreement is in place to bring several Champ Car teams and a handful of races into the IRL domain. It’s believed attorneys from both sides worked all weekend to finalize some kind of arrangement for the two men who claimed CART’s assets in bankruptcy court in 2004.

George, who started the IRL in 1996 when CART was in its heyday, would not confirm any deal when contacted late Monday night. “While it is true that I continue to believe we at the threshold of something long-overdue, we have not yet stepped across it,” he said.

But all signs point to this tumultuous chapter of American motorsports finally being closed.

“I’m supposed to fly in Indy later this week to get fitted for a seat and then we’re going to have to thrash to make it to the first test in Homestead,” said Tracy, the winningest active driver in Champ Car and its premier personality. “We don’t have any experience with those Dallaras and we’re going to need all the practice we can get but this is definitely the best thing that can happen for open-wheel racing.”

The IRL’s first open test is on the oval at Homestead, Fla. on Feb. 27-2

There's an echo in here, but anyways, keep an eye out for the Friday press conference:

IndyCar resolution to come Friday

By Bruce Martin PA SportsTicker Contributing Editor

IndyCar officials have tentatively scheduled a press conference for Friday in Indianapolis, where they likely will announce that the long American open-wheel racing war has come to an end.

Series officials had hoped to make the announcement Thursday. But Champ Car principle Kevin Kalkhoven will not be back from England, where he is tending to family business.

Friday's announcement will end the 13-year feud that began when Indianapolis Motor Speedway president Tony George announced the creation of a new racing series on March 20, 1994. At that time, most of the teams that competed in the Indianapolis 500 were in CART, a series that went bankrupt and would later be revived as Champ Car.

George's original intention was to have CART teams participate in what was then known as the Indy Racing League. But most of those teams refused, starting a lengthy and divisive battle for supremacy in North American open wheel racing.

But Champ Car has agreed to cease operations, which will allow its teams to accept George's offer of a free Dallara car and free Honda engines to make the transition to the new series.

As part of the agreement, IndyCar will purchase Champ Car's "intellectual properties," including the historical database.

For example, Sam Hornish Jr. is officially listed as the series' all-time wins leader with 19. But under the new agreement, the all-time lead would be returned to A.J. Foyt, who has 67 career victories.

In addition, IndyCar is expected to get Champ Car's race dates for the Long Beach Grand Prix along with street races in Edmonton, Alberta; Surfer's Paradise, Australia and Mexico City.

This would not be a merger of Champ Car and IndyCar because the IndyCar Series will be the only series in competition. And it is not technically an acquisition because IndyCar will not be acquiring the assets of Champ Car.

The proper term would be an "amalgamation," which means Champ Car closes up business and its teams join IndyCar.