With the Automobile Club de l'Ouest (ACO) allowing Don Panoz to bring the rules and racing formulas of the 24 Hours of Le Mans to America with the creation of the Petit Le Mans in 1998, Don Panoz attempted to build up a series to be based around Petit Le Mans. The aged IMSA sportscar series was taken over and became the new American Le Mans Series, and met with much success in 1999. Following this success, Panoz attempting to bring sportscar racing back to Europe, which had lacked a major sportscar series since the demise of the World Sportscar Championship in 1992. This led to the 2000 American Le Mans Series season, which included two races in Europe as the Nürburgring and Silverstone Circuit, as well as a round in Australia. These races would serve as a precursor to what would become the separate European Le Mans Series in 2001.