Oz GP boss rejects breakaway

Speaking in the wake of Tuesday's announcement that the manufacturer-led Grand Prix World Championship (GPWC) company has appointed consultants to prepare its own series from 2008, Walker has come out in full support of long-time ally Bernie Ecclestone.

"We have a long-term contract with Mr Ecclestone which runs until 2010 with another five year option and I doubt that the auto manufacturers will in fact get a licence from the FIA to run this sport," Walker told Australian media.

"Without a licence from the FIA they just become another Indy or another cycle of motor racing which amounts to not much at all. I don't think anyone wants to take on a secondary race - they all want a Formula 1 race.

"Frankly I can't see this getting off the ground. I think it's a leverage exercise by (Ferrari owner) FIAT and Renault and Mercedes and BMW to try and force Mr Ecclestone...to distribute greater funds from the revenues."

He added: "I think there is a conspiracy, if you will, between the motor manufacturers and the banks to try and force Mr Ecclestone to do things that he doesn't want to do.

"This is probably a game of cards at the moment that is intensifying. We in Melbourne will not be going along with GPWC, we will be continuing our relationship with Mr Ecclestone."