Simplify the following text for a Grade 7 native English-speaking person.
Original: The current championship , founded by Indianapolis Motor Speedway owner Tony George , began in 1996 as a competitor to CART known as the Indy Racing League ( IRL ) .
Simplified: The current series was founded by Indianapolis Motor Speedway owner Tony George . It began in 1996 as a competitor to CART known as the Indy Racing League ( IRL ) .