GPWC set for revamp

Although the organisation of the series has so far always revolved around the 'GPWC' brand, it has now been revealed that the crunch victory for series figureheads Renault, BMW and Mercedes-Benz in getting the two Japanese manufacturers on board has come at the expense of its old name and format.

Renault F1 president Patrick Faure revealed at the launch of his company's new R25 that plans were going ahead for the series to begin in 2008 - and that thought was now being given to a renaming of what the series will be called.

Speaking about why Honda and Toyota had suddenly decided to join forces with the non-Ferrari manufacturers, having previously rejected overtures from the GPWC, Faure said: "I have the impression that they wanted something new to be created and did not want to join something existing.

"They probably have the idea of that now. We have agreed that we should create a company or a club or whatever, and then they will join it. The five of us are working together to have our ideas come into reality."

Faure went on to refute claims from FIA president Max Mosley that a breakaway championship would never happen - and claimed it was damaging for the sport that the controversy was being played out in public after Ferrari's decision to commit to F1 until the end of 2012.

"If necessary we will create our own championship," he said. "We have nine teams and there is one [Ferrari] on the other side.

"I still think for the future of the highest level of competition we should stop having all this discussed publicly. What is really important is what happens on the track from March 5."