The prospect of a rival to Formula One has moved a step closer to reality with a declaration of intent by the sport’s leading car makers to set up such a series. The news of a breakaway championship has been announced by Paolo Cantarella, who is the chairman of both the European Automobile Manufacturers Association (ACEA) and Fiat FIA. MI, who own the Ferrari team.
"As a result of recent developments and in the best interests of motor sport, it has been unanimously agreed to set up a joint company,” said Cantarella. “The purpose of this will be to establish, as soon as possible, a new open-wheels single-seat racing car series."
The announcement comes as the latest round in the ongoing dispute over television rights to the multi-billion pound sport, with accusations that German company Kirch and its partner EM.TV intend to turn Formula One from a free-to-air sport to pay-per-view. The companies, who increased their stake in Formula One broadcast rights group SLEC from 50% to 75% at the end of February, deny the claim.
The ACEA's members include Fiat, Ford FN, BMW AG BMWG.F, Renault RENA.PA and DaimlerChrysler, who all have interests in Formula One racing teams. Fiat owns the Ferrari racing team which secured championship victory through German driver Michael Schumacher last year.
Formula One’s governing body, the FIA have stated that they would not block the move. "We will sanction the series providing it meets the criteria and rules of the (FIA's) international sporting code as well as the safety criteria," a spokesman said.
Kirch and EM.TV have been in constant negotiations with the ACEA since increasing their stake in the SLEC. They have said they are willing to offer the carmakers a stake in the broadcast rights group.
Filed by Shane Stokes
