Paul Tracy out of a ride as Forsythe opts against joining the IRL

From TSN

"If Paul Tracy is to compete in the IRL this season, it won't be with Forsythe-Pettit Racing.
A statement from Forsythe Championship Racing on Thursday confirmed that after 13 years of competition in both CART and Champ Car, Gerald Forsythe will not be making the switch to the rival IRL.
"The team has been unable to secure the necessary sponsorship to be able to compete in the Indy Racing League IndyCar Series in 2008," said Neil Micklewright, the vice president of operations for Fosythe.
"Forsythe Racing Inc., the parent company of FCR, will participate in the Toyota Grand Prix of Long Beach, the Champ Car finale, with drivers to be announced..."

TSN has the full story here.

QUESTIONS ABOUT PT, the merger, Toronto, etc.:

• Since when did sponsorship matter to Forsythe?
• In 2006, Paul Tracy signed a five-year deal with Forsythe. Is Forsythe on the hook for the term of this deal regardless of his decision not to compete?
• Champ Car owned the Toronto event. During yesterday's press conference, it sounded as though part of the 'merger' was that the IRL would come to own almost all of Champ Car's tangible and non-tangible assets. Assuming the GP of Toronto falls into this category, does the IRL now own the GP of Toronto?
• If you click on http://www.torontograndprix.com/ it takes you directly to indycar.com. The official grandprixtoronto.com site is still there, but the owner of the domain has registered the similarly-sounding torontograndprix.com and redirected to the IRL. Click here to see the WHOIS regarding who owns the torontograndprix.com domain. The search produces one Derek Bess of Pickering, Ontario as the owner. Hmm.
• Yesterday, Tony George made it pretty clear that the GP of Toronto won't be happening in 2008. Yet event boss Charlie Johnstone isn't totally giving up home on an event for 2008. Could there be a plan in the works to put on an event this summer that doesn't involve the IRL? There are several series with contracts already in place for the race on the Toronto waterfront. Could the addition of another high-profile series replace the IRL for '08?
• Reading that story and quote from the Forsythe team, PT's participation in the Long Beach Champ Car finale appears to be in question.

So many questions....