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                                                                   Exhibit 10.35


                                   AGREEMENT


         This Agreement ("Agreement") is made and entered into this 14th day of
February, 2003 between CART, Inc., a Michigan corporation, having its place of
business at 5350 Lakeview Parkway South Drive, Indianapolis, IN 46268 ("CART")
and Walker Racing, 4305 Championship Drive, Indianapolis, IN 46268 ("TEAM").


                              W I T N E S S E T H:

     WHEREAS, CART has sanctioned the Bridgestone Presents the Champ Car World
Series Powered by Ford ("Championship Series") in 2003 ("Race Year");

     WHEREAS, CART desires to induce TEAM to enter a race car exclusively in the
Championship Series in the Race Year and TEAM is interested in entering a race
car upon the terms and conditions set forth herein;

     WHEREAS, CART desires to obtain advertising and promotional services from
TEAM entry, referred to as race car entry number fifteen (15), and TEAM is
willing to advertise and promote the Championship Series on the terms and
conditions hereafter set forth; and

     WHEREAS, the parties desire to establish a mutually beneficial relationship
in accordance with the terms and conditions set forth herein.

     NOW THEREFORE, in consideration of the premises and mutual covenants set
forth herein, the parties agree as follows:

      1. TEAM shall prepare and enter and expend its mutual efforts to qualify
         and race a second race car exclusively in the Championship Series, in
         all of the races in the Race Year.

      2. In consideration for TEAM's agreement to race in each of the races, and
         in consideration of TEAM's providing promotional benefits through
         advertising on the race car and other below enumerated promotional
         services, CART agrees to pay TEAM the sum of Three Million Nine Hundred
         Twenty Five ($3,925,000.00) Dollars during the 2003 race season. The
         payments will be made as follows:

         a. $750,000.00 upon signing;
         b. $300,000.00 on March 15, 2003;
         c. $200,000.00 on April 15, 2003;
         d. $200,000.00 on May 15, 2003;
         e. $200,000.00 on June 15, 2003;
         f. $450,000.00 on July 15, 2003;
         g. $600,000.00 on August 15, 2003;
         h. $800,000.00 on September 15, 2003;
         i. $400,000.00 on October 15, 2003; and
         j. $25,000.00 on November 15, 2003.


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      3. It is understood and agreed that TEAM has a potential sponsor in Park
         and Fly. In the event TEAM secures Two Million Five Hundred Thousand
         ($2,500,000.00) Dollars in sponsorship from said sponsor, TEAM will
         notify CART and refund One Million Nine Hundred Twenty Five Thousand
         ($1,925,000.00) Dollars of said sponsorship.

      4. TEAM understands that the payment of the funds set forth in paragraph 2
         above is intended to supplement TEAM's revenue so that TEAM has enough
         funding to field a team during the Race year. In the event that TEAM
         receives sponsorship revenue that totals more than Six Million Five
         Hundred ($6,500,000.00) Dollars, TEAM will reimburse CART fifty (50%)
         percent of all excess amounts until CART has been reimbursed the amount
         set forth in paragraph 2 above. For purposes of this Agreement,
         sponsorship revenue shall include all amounts given to TEAM under this
         Agreement and the Entrant Support and Participation Agreement. So long
         as this Agreement remains in effect, and for a period of one (1) year
         thereafter, TEAM agrees to maintain complete and accurate books and
         records containing information necessary to calculate the amount of
         sponsorship funds connected. Upon at least ten (10) days written notice
         by CART, TEAM shall allow a senior CART management person to review all
         sponsorship contracts for the 2003 Season which has been raised for
         TEAM race car entry number five (5).

      5. Advertising spaces and promotional revenues sold to CART referred to in
         paragraph 6 herein, may be purchased by TEAM provided such advertising
         and promotions are not in use by CART, subject to CART's approval.

      6. TEAM agrees to abide by all the rules and regulations of CART and the
         series including but not limited to execution of the Entrant Support
         and Participant Agreement.

      7. TEAM agrees that it shall provide the following advertising and
         promotional services to CART:

         a. Advertising elements provided by TEAM shall be designated and
            referred to as an "Associate Sponsorship". TEAM agrees that once an
            associate sponsor or sponsors have been accepted by TEAM, no other
            competing company will be assigned by the TEAM car entry benefiting
            from this Agreement.

         b. Identification Elements -

            i.   Logo identification on the race car in the following locations
                 and sizes:

                 - Front nose section (6 inches x 4 inches)
                 - Mid forward chassis location (12 inches x 4 inches)
                 - Engine cover (16 inches x 5 inches)


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            ii.  Logo identification on the team transporter and race pit
                 equipment.

            iii. Logo identification on Team/Driver uniforms.

            iv.  TEAM will further provide and promote CART logos on race cars,
                 transport vehicles, pit wall banner, driver and team uniforms,
                 team cars and a team website as well as link to cart.com.

            v.   Provide to CART and the associate sponsor, the team and driver
                 name and likeness for reasonable use for promotional purposes
                 related to the involvement by the sponsors in the Cart Racing
                 Series.

            vi.  Provide hospitality to the associate sponsor's guests at events
                 where the TEAM has such service. Five guests will receive
                 credentials, grandstand seating and access to team hospitality
                 when available. In addition, TEAM will supply to associate
                 sponsor's senior management, five (5) hard card full-season
                 credentials.

      8. The term of this Agreement shall commence upon the date both parties
         have executed this Agreement and shall continue until the end of the
         2003 Race Year unless terminated prior thereto pursuant to the terms
         hereof.

      9. TEAM will not disclose, publish or disseminate confidential information
         (which shall be defined as the terms of this Agreement) to anyone other
         than those of their employees, attorneys and accountants with a need to
         know and TEAM agrees to take such reasonable precautions as may be
         necessary to prevent any unauthorized use, disclosure, publication,
         dissemination of confidential information which shall include the terms
         of this Agreement. In the event TEAM violates the provisions of this
         paragraph, CART has the right to declare this Agreement null and void
         and TEAM shall be required to refund any monies paid through that date.
         Further, any press releases or public statements regarding the
         relationship of the parties must be approved by CART.

     10. The parties acknowledge the importance of each party's reputation, good
         will and public image and, accordingly, agree to maintain and enhance
         such image by restraining from taking any action contrary to the best
         interest of either party, or detracting from the reputation of either
         party. Each party shall refrain from making any statements about the
         other party that adversely affects, casts in an unfavorable light, or
         otherwise maligns the business or reputation of such other party or any
         of its principals.


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     11. TEAM agrees that it will include in its diver's contract the following
         language "Driver agrees that CART has a right of first refusal to meet
         any offer Driver receives at the expiration of this Agreement. CART
         must exercise this right within ten (10) days of receipt from Driver of
         a bona fide offer."

     12. TEAM will maintain throughout the length of this Agreement, commercial
         general liability insurance (including but not limited to advertising
         liability and contractual liability coverage applicable to the terms of
         the indemnification provisions of this Agreement) covering claims for
         personal and bodily injury, and property damage arising out of the
         staging and performance of the races, with limits of at least Three
         Million ($3,000,000.00) Dollars combined single limit per occurrence.
         Each party shall specifically name CART as an additional insured.

     13. TEAM agrees to indemnify, defend and hold harmless CART and any
         sponsor's of CART whose logo may appear on TEAM's car from and against
         any and all expenses, damages, claims, suits, actions, judgments, and
         costs, including reasonable attorneys' fees arising out of or in
         connection with the running of a car in any race during the Race year.

     14. This Agreement shall be governed and construed in accordance with the
         laws of the State of Indiana. If a dispute arises under this Agreement
         which cannot be resolved first through good faith negotiations, such
         dispute shall be submitted to arbitration and resolved by a single
         arbitrator in accordance with the Commercial Arbitration Rules of the
         American Arbitration Association then in effect. Such arbitration shall
         take place at the office of the American Arbitration Association
         located in Indianapolis, IN. The award of decision rendered by the
         arbitrator shall be final, binding and conclusive and judgment may be
         entered upon such award by any court. This provision shall survive the
         termination and/or expiration of this Agreement.

     15. This writing constitutes the entire Agreement between the parties
         hereto regarding the subject matter hereof and may not be changed or
         modified except by a writing signed by the party or parties to be
         changed thereby.

     16. This Agreement does not constitute and shall not be construed as a
         consulting, partnership or joint venture between TEAM and CART. Neither
         party shall have any right to obligate or bind the other party in any
         manner whatsoever, and nothing herein contained shall give, or is
         intended to give, any rights of any kind to any third party.

     17. The failure of either party at any time or times to demand strict
         performance by the other of any of the terms, covenants or conditions
         set forth herein shall not be construed as a continuing waiver or
         relinquishment thereof and each may at any time demand strict and


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         complete performance by the other of said terms, covenants and
         conditions.

     18. This Agreement has been jointly drafted by the respective
         representatives of CART and TEAM and no party shall be considered as
         being responsible for such drafting for the purpose of applying any
         rule construing ambiguities against the drafter or otherwise. No draft
         of this Agreement shall be taken into account in construing the
         Agreement.

     19. It is hereby understood and agreed to by CART and TEAM that any
         statement or notice required to be given hereunder shall be deemed
         given if mailed, certified mail, return receipt requested to the
         following addresses:

         If to CART: CART, Inc.
                     5350 Lakeview Parkway South Drive
                     Indianapolis, IN  46268
                     Attn: J. Carlisle Peet, III

         If to TEAM: Walker Racing
                     4305 Championship Drive
                     Indianapolis, IN  46268
                     Attn: Derrick Walker

     20. This Agreement may be terminated in the event that:

         (i)  Either party to this Agreement files a petition in bankruptcy or a
              petition in bankruptcy is filed against either party to this
              Agreement that is not removed within thirty (30) days from the
              date such petition is filed; a general assignment of either
              party's assets is made for the benefit of creditors; or CART
              dissolved or liquidates pursuant to Delaware state law or
              otherwise.

         (ii) Either party to this Agreement breaches any of the material
              representations, warranties or covenants contained in this
              Agreement, which breach is not cured by the breaching party within
              thirty (30) days after receiving written notice of such breach
              from the other party.

         If the Agreement is terminated by TEAM pursuant to the terms of this
         Paragraph 19, TEAM shall be entitled to retain all sums paid to it by
         CART through the date of termination.

         If the Agreement is terminated by CART pursuant to the terms of this
         Paragraph 19, CART shall be entitled to immediately terminate any
         future payments to TEAM and shall be entitled to a refund by TEAM of
         all monies previously paid under this Agreement.


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     21. Titles to articles, paragraphs and subparagraphs are for information
         purposes only and shall not be considered a substantive part of the
         Agreement.

     22. This Agreement and any subsequent amendments may be executed in one or
         more counterparts, each of which shall be deemed to be an original, but
         all of which shall constitute one and the same agreement. This
         Agreement and any subsequent amendments may be signed and delivered by
         facsimile transmission, which delivery shall have the same binding
         effect as delivery of the document containing the original signature.
         At the request of any party, any document delivered by facsimile
         signature shall be followed by or re-executed by all parties in
         original form, provided that the failure of any party to do so will not
         invalidate the signature delivered by facsimile transmission.

     23. In the event that any provisions of this Agreement are found to be
         invalid or unenforceable by any court of competent jurisdiction, such
         provision may be deemed severed and any such finding shall not
         invalidate or render unenforceable any other provisions hereof.

     24. Each party shall comply with all governmental laws, ordinances, and
         regulations applicable to the performance of this Agreement over which
         said party has jurisdiction and control.

     25. This Agreement may be unilaterally terminated by CART in the event CART
         is unable to field eighteen (18) entrants in the 2003 Race Year or in
         the event CART ceases to sanction races during the Race Year. In the
         event of such termination, this Agreement shall be null and void with
         no further obligations or liability on the part of either party.


                                        CART, Inc.

                                        By: /s/ David Clare
                                            ------------------------------------
                                            Its: Chief Operating Officer


                                        WALKER RACING

                                        By: /s/ Derrick Walker
                                            ------------------------------------
                                            Its: President