The two leaders of open-wheel auto racing have reached an ownership-sharing agreement, signaling the biggest development yet in their efforts to put aside a decade of friction and reunite their series.

Indy Racing League founder and CEO Tony George and Champ Car World Series co-owner Kevin Kalkhoven say many details of a proposal remain to be worked out, including how the two sides would resolve disagreements. But one of the first moves toward a merger could involve drivers from both series competing at next year’s Indianapolis 500.

“We’ve agreed conceptually (to share ownership), yes,” George said from Richmond International Raceway, which was hosting the IRL’s SunTrust Indy Challenge on Saturday night. “Now we have to agree on how we would go about resolving differences that might come up.”

The two auto racing bodies split in 1996 when George, the chief executive officer of Indianapolis Motor Speedway, started the IRL series as an alternative to CART, Champ Car’s predecessor. Both the IRL and Champ Car are based in Indianapolis.

What followed was years of finger-pointing over the decline of open-wheel racing, NASCAR’s emergence, failed attempts to reconcile and, two years ago, an unsuccessful effort by the IRL to buy the assets of a bankrupt CART.

The latest round of talks between George and Kalkhoven began in December during a chance meeting at an all-star race in Paris. They last met in person the week after the Indianapolis 500.

One of the key issues at stake in their talks is how they would get past disagreements. They’ve discussed appointing someone who could break ties when necessary. Individuals who could fit that bill include former Indianapolis 500 winners Mario Andretti and Rick Mears. Andretti, the 1969 race winner, has been one of the IRL’s strongest critics. Mears, a four-time 500 winner, is a driver coach and consultant for the IRL and one of its top teams, Penske Racing.

George and Kalkhoven understand what’s at stake. The sport has lost considerable ground to NASCAR in the past decade, with TV ratings, sponsorship support and event attendance falling significantly, affecting even the once-bulletproof 500.

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