CART has been on the brink of bankruptcy for a couple of years. IRL hasn't been anything but a remake of nascar (ovals) with open wheel cars (Minus the carnage because open wheel cars can't play bump and run).

I'm watching the F1 Spanish Grand Prix on CBS right now. It's great racing to watch this year (because it isn't the ferarri and the also ran's show).

I think this may be it for CART and the IRL.