<PAGE>

EXHIBIT 10.27
-------------

               AMENDMENT TO OFFICIAL ORGANIZER/PROMOTER AGREEMENT
               --------------------------------------------------
            BETWEEN CART, INC. AND ROCKINGHAM MOTOR SPEEDWAY LIMITED
            --------------------------------------------------------


THIS AMENDMENT is made as of the sixteenth day of August, 2002 by and between
Rockingham Motor Speedway Limited ("Organizer/Promoter") and CART, Inc., a
Michigan corporation with principal offices located at 5350 Lakeview Parkway
South Dr., Indianapolis, IN 46268 ("CART"). The parties hereby agree that the
following provisions shall be incorporated into the Official Organizer/Promoter
Agreement dated July 3, 2000 (the "Sanction Agreement"), as if set forth therein
in their entirety.

I.       Paragraph 5 of the Sanction Agreement shall be amended to read in its
         entirety as follows:

         "5.      Provided that CART provides not less than eighteen (18) bona
                  fide Entrants for the 2002 Competition, the total Organization
                  and Rights Fee payable for the 2002 Competition shall be Two
                  Million Eight Hundred Thousand ($2,800,000.00) Dollars and
                  shall be paid to CART as follows:

         A.       Organizer/Promoter shall pay to CART the full Two Million
                  Eight Hundred Thousand ($2,800,000) Dollars, plus any agreed
                  expenses due to CART, less any agreed expenses due to
                  Rockingham (the agreed chart of expenses and credits is
                  attached as Exhibit 1) within thirty days following the
                  scheduled date of the 2002 Event.

         B.       Rockingham shall present to CART by August 31, 2002 an
                  irrevocable standby documentary Letter of Credit containing
                  terms and conditions agreeable to CART and the
                  Organizer/Promoter, for the net amount shown in Exhibit 1
                  attached. Said Letter of Credit shall expire not earlier than
                  sixty days after the date of the 2002 Event. It is understood
                  that this Letter of Credit is intended to provide security for
                  the payment due pursuant to Paragraph 5A. of this Sanction
                  Agreement. CART shall be entitled to draw upon the Letter of
                  Credit in the event that (i) CART has provided not less than
                  eighteen (18) bona fide Entrants for the 2002 Competition and
                  (ii) the promoter fails to pay the full amounts under this
                  Paragraph 5A. within 30 days from the date of the 2002 Event."

II.      A new Paragraph 51 shall be added to the Sanction Agreement and shall
         read in its entirety as follows:

         "51.     Organizer/Promoter and CART hereby agree that, following the
                  2002 Event, they shall commence negotiations in good faith to
                  finalize the revised terms and conditions of this Sanction
                  Agreement for the Events to be held in 2003 through 2006 with
                  a view to reaching such agreement no later than November 1,
                  2002. If, by such date, no such agreement is reached, either
                  party may terminate this Sanction Agreement by written notice
                  to the other party given by November 14, 2002. Upon such
                  termination, neither party shall have any obligation or
                  liability to the other under this Sanction Agreement in
                  respect of future Events, but without prejudice to any
                  liability arising prior to the date of such termination.
                  Notwithstanding the foregoing, if no agreement as to the
                  revised terms and conditions is reached by November 1, 2002
                  and no notification of termination has been given by November
                  14, 2002, this Sanction Agreement, as amended by the Amendment
                  Agreement between the parties dated August 16, 2002, shall
                  continue in full force and effect."



                                       27
<PAGE>


III.     A new Paragraph 52 shall be added to the Sanction Agreement and shall
         read in its entirety as follows:

         "52      For the 2002 event, CART hereby undertakes to perform the
                  following obligations of Organizer/Promoter and CART will be
                  entitled to any revenues therefrom:

         A.       All obligations under Paragraphs 1A. and 1E. of Schedule H of
                  the Sanction Agreement, and with respect to the freight
                  transportation only, CART will undertake the obligations under
                  Paragraph 1C. of Schedule H of this Sanction Agreement.

         B.       With respect to the freight transportation movement CART will
                  undertake the payment required in Paragraph 1D. of Schedule H
                  of this Sanction Agreement.

         C.       CART shall obtain and make payment for the freight insurance
                  required under Paragraph 1H. of Schedule H of this Sanction
                  Agreement.

         D.       In undertaking the obligations and payments above, CART shall
                  use its best efforts to keep the Organizer/Promoter reasonably
                  informed as to the status of these issues and to keep the
                  expenses related to the requirements of Schedule H as low as
                  practicable.

         E.       For the 2002 event, regarding the section of Schedule H
                  entitled "Accommodations" the reference to "seven (7) nights"
                  shall be changed to "six (6) nights" and the subsequent
                  reference to "eight (8) nights" shall be changed to "seven (7)
                  nights". "

IV.      Paragraph 10A of the Sanction Agreement shall be amended by the
         addition to the end of such paragraph of the following new sentence:

                  "Notwithstanding anything in this Agreement to the contrary,
                  provided that the Letter of Credit referred to in Paragraph 5
                  is delivered by the required date in executed form, in no
                  circumstances shall Organizer/Promoter be liable for
                  liquidated damages under this Paragraph 10A in connection with
                  the 2002 Event and, for the purposes of liquidated damages
                  under Paragraph 12C, the fee for the 2003 event shall be
                  deemed to be $2,800,000."


V.       Paragraph 12A of the Sanction Agreement shall be amended to read in its
         entirety as follows:

         "12.A.   CART shall be responsible for providing not less than eighteen
                  (18) bona fide Entrants for the 2002 Competition. For all
                  subsequent Competitions, CART shall be responsible for
                  providing not less than twenty (20) bona fide Entrants. If
                  CART provides less than 18 bona fide Entrants for the 2002
                  Competition, the Organization and Rights Fee payable for the
                  2002 Competition shall not be payable and CART shall not be
                  entitled to draw on the Letter of Credit referred to in
                  Paragraph 5A. If CART is unable to provide the specified
                  number of bona fide Entrants for any Competition,
                  Organizer/Promoter shall have the right to cancel such
                  Competition, providing that Organizer/Promoter first informs
                  CART in writing of such intent, and provided further that the
                  specified number of bona fide entries have not been received
                  within seven (7) days after receipt by CART of such notice. If
                  Organizer/Promoter, under these circumstances, exercises this
                  cancellation right, CART


                                       28
<PAGE>


                  will reimburse Organizer/Promoter the portion of the
                  Organization and Rights Fee theretofore paid for such
                  Competition."

VI.      Paragraph 42 of the Sanction Agreement shall be amended to read in its
         entirety as follows:

         "42.     Nothing contained herein shall be construed to place CART in
                  the relationship of a partner or joint venturer with
                  Organizer/Promoter, and neither party shall have any power to
                  obligate or bind the other party in any manner whatsoever
                  other than as specifically provided for herein. Neither party
                  undertakes by this Sanction Agreement to perform any
                  obligations of the other, whether regulatory or contractual,
                  or to assume any responsibility for the other's business or
                  operations. In the event that it is held that this Sanction
                  Agreement has created a partnership or joint venture between
                  the parties, and a third party makes a claim against one of
                  the parties based solely on the finding of a partnership or
                  joint venture, the party who would be responsible for the
                  liability, but for such a finding, shall indemnify and hold
                  the other party harmless for such claim."

VII.     Paragraph 45 of the Sanction Agreement shall be amended to read in its
         entirety as follows:

         "45.     Any notice or written communication required or permissible
                  hereunder shall be sent registered mail (or certified mail
                  with return receipt), postage prepaid, and by facsimile,
                  addressed as follows:

                  To CART:
                  Attn: Timothy A. Mayer, Vice President, Promoter Operations
                  With Copy to: J. Carlisle Peet III, Esq., Chief Legal Officer

                  Championship Auto Racing Teams, Inc.
                  5350 W. Lakeview Parkway South Drive
                  Indianapolis, IN  46268
                  United States of America
                  Facsimile Number: +1-317-715-4110

                  To Organizer/Promoter:
                  Attn: Nigel Reed, Finance Director
                  With Copy to: Peter Middleton, Chairman

                  Rockingham Motor Speedway Limited
                  Mitchell Road
                  Corby NN17 5AF England
                  Facsimile Number: +44-1536-271-566"

VIII.    Paragraph 46 of the Sanction Agreement shall be amended by the addition
         of the following new sub-paragraph 46E.:

         "E.      Each party shall be entitled to set off any amount due and
                  payable to it by the other party against any amount due and
                  payable by it to the other party."

IX.      Except as otherwise stated in this Amendment, each party shall continue
         to be responsible for its own obligations for each Event as set forth
         by the terms of the Sanction Agreement.



                                       29
<PAGE>


X.       Except as specifically modified herein, the terms of the Sanction
         Agreement are hereby ratified in their entirety.

IN WITNESS WHEREOF, the parties have caused this Amendment to be executed as of
the date first written above.

CART, INC.

August 16, 2002

By: /s/ Timothy A. Mayer
    --------------------
Timothy A. Mayer
Vice President, Promoter Operations


ROCKINGHAM MOTOR SPEEDWAY LIMITED

August 16, 2002

By: /s/ Nigel Hards
    -----------------
Nigel Hards
Operations Director


                                       30
<PAGE>


EXHIBIT 1 TO ROCKINGHAM AMENDMENT

The amounts listed represent satisfaction in full of the items below.
             DUE TO CART FROM RMS

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------
    DATE                             NARRATIVE                          (POUND)             $
-----------------------------------------------------------------------------------------------------
<S>         <C>                                                                       <C>
-----------------------------------------------------------------------------------------------------
 19-Nov-01  Tire Testing. CART Charge to RMS. 1/3rd of costs.                             56,065.00
-----------------------------------------------------------------------------------------------------
 17-Sep-01  Participant Accident Insurance (2001 Event)                                   13,302.00
-----------------------------------------------------------------------------------------------------
 14-Sep-02  Participant Accident Insurance (2002 Event)                                   26,765.00
-----------------------------------------------------------------------------------------------------
 14/09/2002 Sanction Fee 2002                                                          2,800,000.00
-----------------------------------------------------------------------------------------------------
                                DUE TO CART FROM RMS                                  $2,840,067.00
-----------------------------------------------------------------------------------------------------

             DUE FROM CART TO RMS

-----------------------------------------------------------------------------------------------------
    DATE                             NARRATIVE                          (POUND)             $
-----------------------------------------------------------------------------------------------------
 14/09/2002  2002 Payment as per Schedule 'G'                                            150,000.00
-----------------------------------------------------------------------------------------------------
 04-Sep-01   CART Contribution to RMS Marketing Expenditure, 2001.                       250,000.00
-----------------------------------------------------------------------------------------------------
 17-Sep-01   Additional Facilities provided by RMS to CART for 2001
             event.                                                         0.00
-----------------------------------------------------------------------------------------------------
 16-Nov-01   Buffet Dinner for all teams. Thursday 20/9/01             17,625.00
-----------------------------------------------------------------------------------------------------
             Beverages Consumed                                         2,588.88
-----------------------------------------------------------------------------------------------------
 07-Nov-01   Schedule 'G' entitlements 2001                                              100,000.00
-----------------------------------------------------------------------------------------------------
 07-Nov-01   1,000 US Flags & 1,000 Pineapples in full colour               0.00
-----------------------------------------------------------------------------------------------------
 20-Jun-02   Fedex Banners.                                                 0.00
-----------------------------------------------------------------------------------------------------

                                                                       ------------------------------
                                                                       20,213.88         500,000.00

              Converted at (pound sterling)1 = $1.50                                      30,320.82

                                                                                      ---------------
                                DUE FROM CART TO RMS                                    $530,320.82
                                                                                      ---------------
---------------------------------------------------------------------------------------


                                                                                      ---------------
             TOTAL DUE FROM RMS TO CART                                                $2,309,746.18
--------------------------------------------------------------------------------------===============
</TABLE>