Carmaker consortium revives plan for rival series
LONDON -- Four top carmakers plan to split from Formula One and launch a rival open-wheel Grand Prix racing series by 2008.
The group -- which includes BMW, DaimlerChrysler, Ferrari and Renault, and is known collectively as the Grand Prix World Championship consortium -- made the announcement Tuesday. They had been seeking a bigger share of F1's revenues and said the new series will "maintain the strengths of Formula One, while eliminating its weaknesses."
GPWC was formed in ...
Read full story