Series boss confident about future

Speaking at the 2006/7 season awards dinner in London last night, Teixeira declared that the World Cup of Motorsport would continue to confound sceptics in its third year.

"The critics said it would never happen," he said.

"At our first race the critics said we would never make the end of season one, and here we are at the end of season two.

"We are looking forward to season three and, you can be assured from me and our seat holders that there will definitely be a season three. And it will be as exciting, if not more exciting, than what we have seen up until now."

A1GP made a $212 million loss in its 2005/6 season, but Teixeira said its financial position was no longer a cause for concern.

"In terms of our finances and our commitments for us to succeed I'm happy to say our shareholders, RAB Capital, have again committed to season three," he said.

"We have had a lot of investors at our events in the past couple of races. The comments have been that A1GP is wonderful and therefore we are again saying we are financed for season three.

"I'm working to keep my commitment, and my promise to the people in this room, that A1GP World Cup of Motorsport will become a huge, huge event worldwide."

Teixeira was speaking after Bernie Ecclestone suggested A1GP would struggle if his plans to expand GP2 to include an Asian-based winter series came to fruition.

"An awful lot will depend if we get another series running in Asia. Then it would be difficult for them," Ecclestone was quoted as saying by the Daily Express.