Jordan Plays Down GPWC Threat

Former team owner Eddie Jordan has played down the threat of a rival series to Formula One, saying Bernie Ecclestone is the only credible solution.

Carmakers planning their own series from 2008 will show teams what they have to offer in a meeting in London today.

World Champions Ferrari already agreed to stay with Ecclestone and the FIA, the sport's governing body, until 2012, but the GPWC group will show the other nine teams a blueprint for the future.

Reports have talked about Ecclestone offering the teams anything up to $3 billion in revenues over five years.

The GPWC have avoided financial estimates, but Jordan believes it would have to be "a hugely beneficial deal to attract the teams to go with them rather than Bernie Ecclestone".

"A vast majority of the teams, once you've got Ferrari on your side, will all side with Bernie," Jordan told BBC Radio Five Live.

"Bernie Ecclestone is the only credible solution because the private teams would have great problems believing that the manufacturers will look after their needs and cares. Bernie has looked after us almost like a godfather figure, in a tough way, but a fair way."

Jordan sold his team last month to Russian billionaire Alex Shnaider, owner of the Midland Group.

The GPWC includes BMW, DaimlerChrysler and Renault, but also counts on the support of Japanese manufacturers Honda and Toyota.