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Carmaker consortium revives plan for rival series

Updated: October 26, 2004, 10:36 AM ET
Associated Press

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 ...

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