Following the news that Ferrari was in discussions with A1GP, the international racing series has announced that the two racing outfits have signed a six-year contract with Maranello. The terms of the agreement have Ferrari supplying the V8 engines for all the national teams competing in the series starting the season after next, when the current deal with Lola and Zytek expires. In addition to powering the new cars, Ferrari will also consult on the design of the chassis, which will be built by an as-yet undisclosed third party.

The deal gives Ferrari a de facto feeder series of its own, not unlike Formula BMW and the GP2 series owned by Renault principal Flavio Briatore. A1GP chairman Tony Teixeira also announced the formation of a second, lower-rung regional series to be called A2GP – taking a possible similar relationship as the Atlantic series to Champ Cars – with which Ferrari will also collaborate, supplying detuned versions of the engine. The deal should give Ferrari a place to field up-and-coming younger drivers and bring in extra revenue, while lending the open-wheel series added prestige on the world motorsports stage.

Teixeira also confirmed earlier speculation that, after bowing out of the Spyker purchase, he is considering buying into Scuderia Toro Rosso. The Italian F1 team, currently owned by Red Bull and former Ferrari driver Gerhard Berger, scored impressive fourth and sixth places in last weekend's Chinese Grand Prix.

[Source: Autosport and A1GP]