The International Race of Champions (IROC series) officials announced series will liquidate all tools, equipment, race cars and memorabilia in a two-day public auction on March 7th and 8th at IROC headquarters in Tinton Falls, NJ.

The IROC series has been dormant since the conclusion of the 2006 season due to lack of sponsorship. IROC President Jay Signore said, "We're all very sad to see IROC come to an end, but the competition for major corporate sponsorship is very tough and the car manufacturers have not shown any interest. We kept hope alive as long as we could but now it's time to look forward and move on."

Spanning four decades the IROC series left its mark in auto racing history staging 120 events at 16 different world-class race tracks across the United States and amassing a roster of over 125 of the biggest names in stock car, open wheel and road racing from throughout the world. Twenty-one of those greats have won the elite IROC championship along with the bragging rights of beating out the best of the best.

The IROC series was touted as one of the sporting world's most unique competitions, designed to settle the old argument: "Who is the World's best driver?" The concept, conceived in 1973 by Roger Penske and Les Richter, with Jay Signore at the helm, has proven timeless: Take 12 of the World's best drivers from different types of auto racing, put them in identically prepared race cars with a set of rules eliminating any mechanical advantages and produce a winner based solely on driving skill.

The IROC rules stated drivers were only allowed to adjust the steering wheel and seat position; they were not permitted any input on the set-up of their race cars, which were prepared and serviced by a team of IROC mechanics. The series consisted of four-races on different types of tracks throughout the racing season. Points were awarded to the drivers based on finishing positions in each race, which was approximately 100-miles in distance -- perfect for fitting into a one-hour television time slot. At the end of the final event the driver with the most points was named the IROC champion and awarded $1-million prize.

IROC champions include: Mark Donohue 1974; Bobby Unser 1975; A.J. Foyt 1976 & '77; Al Unser 1978; Mario Andretti 1979; Bobby Allison 1980; (Dormant 1981-1983); Cale Yarborough 1984; Harry Gant 1985; Al Unser Jr. 1986 & '88; Geoff Bodine 1987; Terry Labonte 1989; Dale Earnhardt 1990, '95, '99, 2000; Rusty Wallace 1991; Ricky Rudd 1992; Davey Allison 1993; Mark Martin 1994, '96, '97, '98, 2005; Bobby Labonte 2001; Kevin Harvick 2002; Kurt Busch 2003; Matt Kenseth 2004; Tony Stewart 2006.

Racing legend and 1979 IROC champion, Mario Andretti said, "I've been so proud to compete against the best of the best in the IROC series. It has been a great part of my career and I don't think I could have truly considered my career complete unless I would have competed in IROC."