devilmaster
01-19-05, 03:14 PM
http://www.tsn.ca/auto_racing/news_story.asp?id=111824
Ferrari have dealt a huge blow to plans for a breakaway Formula One series in 2008. The Maranello-based team have agreed to continue on in the current Formula One series through to 2012.
A statement released by Ferrari says the team, FIA and Formula One management have "agreed to enter into a new version of the Concorde Agreement for the period 2008 to 2012".
Ferrari's decision effectively kills Grand Prix World Championship's plans to set up an alternate F1 series once the current agreement expires in two years time.
GPWC had been formed by the leading F1 manufacturers - Mercedes, BMW, Ferrari and Renault - as a means of getting a bigger share of the financial pie.
Ferrari have dealt a huge blow to plans for a breakaway Formula One series in 2008. The Maranello-based team have agreed to continue on in the current Formula One series through to 2012.
A statement released by Ferrari says the team, FIA and Formula One management have "agreed to enter into a new version of the Concorde Agreement for the period 2008 to 2012".
Ferrari's decision effectively kills Grand Prix World Championship's plans to set up an alternate F1 series once the current agreement expires in two years time.
GPWC had been formed by the leading F1 manufacturers - Mercedes, BMW, Ferrari and Renault - as a means of getting a bigger share of the financial pie.