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Zip Formula canned for '04

The series has tended to struggle with grid sizes since it was launched in 2001, and has been unable to attract the 20 entries required to break even

Hines has cited the withdrawal of Ford's support and the Motor Sports Association's permission for Formula BMW to be run in the UK. Zip Formula had been poised to run at three British F3/GT meetings, and last season even secured a place on the MSA's highly-touted circuit racing matrix structure.

Hines revealed: "I cannot begin to express what a difficult decision it has been to cancel this season's championship. For 2004, without manufacturer support, the series required a minimum of 20 entries to break even, yet with the MSA permitting Formula BMW, and allowing 15-year-olds to race in Formula BMW, it has moved the goalposts too far. So, for now, these decisions have killed off an existing championship. The brief history of the Zip Formula series mixes great promises with deals turned sour, and ultimately, the withdrawal of support from Ford four months into the 2003 season proved to be the stick that broke the camel's back."

In addition to these problems, Hines also points to Octagon pulling out of the Zip project when the cars were originally designed and a £50,000 loss on putting 2002 champion Michael Spencer into Formula Renault last season.

Despite this major setback, Hines is determined to re-establish the championship (which first made an appearance in winter 2001) in a different form, and is in discussions with a major manufacturer to ensure the series relaunches on a more stable footing.

Hines said: "The car remains a perfect vehicle for emerging nations and race schools. I believe in the car. We will use 2004 to forge new and honourable allegiances. Next season promises all of the best aspects of the championship, properly packaged and fully supported."

British F3/GT organisers, the Stephane Ratel Organisation, are now seeking a replacement series to take Zip's place at Silverstone, Snetterton and Knockhill.

SRO motorsport director John Ward said: "It is a blow. Obviously it has left a gap in the package and we are actively seeking a replacement."

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