International Race of Champions (IROC) was a North American auto racing competition, promoted as an equivalent of an American All-Star Game or The Masters. Despite its name, the IROC was primarily associated with North American oval-racing culture. In 2007, IROC could not find a sponsor and postponed the first two races at Daytona and Texas. IROC went on hiatus in 2007 hoping to return with a sponsor in 2008. In March 2008, IROC auctioned off its tools, equipment, cars, and memorabilia, and went out of business.