The IndyCar Series (known as the Verizon IndyCar Series for sponsorship reasons) is the premier level of open wheel racing in North America. Its parent company began in 1996 as a competitor to CART known as the Indy Racing League (IRL) which was created by then  Indianapolis Motor Speedway owner Tony George. In 2008, the IndyCar Series merged with the Champ Car World Series (formerly CART). The series is sanctioned by IndyCar.