Off the track, the 2001 season was an unmitigated disaster for CART under the leadership of Joseph Heitzler. It included two race cancellations; a disastrous European tour that coincided with the September 11 attacks and witnessed a severe accident to former series champion Alex Zanardi in which he lost both of his legs; infighting amongst engine manufacturers that saw litigation and the announced future departure of Honda and Toyota; the loss of the series' television contract with ABC/ESPN; the departure of longtime tracks Michigan International Speedway and Nazareth Speedway; the loss of Firestone as the series' tire supplier and its replacement by parent company Bridgestone; and the defection of Team Penske to the rival Indy Racing League (IRL) at the conclusion of the season.
Team Penske and Team Motorola joined Chip Ganassi Racing in having concurrent IRL teams to run in the 2001 Indianapolis 500, with Penske's Helio Castroneves winning the race. In an unusual move, CART "sanctioned" the participation of teams in the race; this was an attempt to allow Penske's primary sponsor, Marlboro, to appear on cars in the 500, as they were prohibited from being in more than one racing series by the Tobacco Master Settlement Agreement. This legal maneuver was not successful, and Penske's cars ran without advertising. DaimlerChrysler shut down their CART program as an engine manufacturer via Mercedes-Benz brand as the company decided to move to NASCAR Winston Cup Series via the Dodge brand in the same year.
The original calendar called for 22 races on five continents, by far the most ambitious calendar CART had ever attempted. With the race at Texas being canceled and the Rio 200 being dropped, the 2001 season ultimately had the same number of races as the previous year.
For the first time, CART would race in the United Kingdom and Germany and also return to Mexico for the first time in almost twenty years.
The original calendar released on August 5, 2000, had the first round of the season at Jacarepaguá in Brazil, but disagreements with the track owners several months later led to the event being dropped.
The removal of Gateway from the calendar meant that Memorial Day weekend would be empty, allowing several teams and drivers the opportunity to compete at the Indianapolis 500.
The 2001 season was the final time Michigan Speedway appeared on the calendar.
The Indianapolis 500 was an Indy Racing League event that was also sanctioned by CART but awarded no points towards the CART Championship.
^Alex Zanardi's car was impacted from the side by Alex Tagliani's car at EuroSpeedway Lausitz. He lost both of his lower legs in the impact. This signaled the end of his open-wheel racing career.
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