The international motor racing community was shocked when the FIA announced it is accepting tenders to revive the long-departed Formula 2 series. Trouble is, Formula 2 isn't dead... it's just changed names over the years. In 1985 it was relabeled Formula 3000 before being taken over by F1 chief Bernie Ecclestone and Renault team principal Flavio Briatore, who turned it into the current GP2 series in 2005.

The FIA's plan calls for an additional feeder-series to be formed to run in competition to the aforementioned GP2 and other junior formulae like A1GP and F3. However the revived F2 series, as envisioned by the FIA proposal, calls for a much lower operating cost of €200,000 per car, per season – far lower than GP2 (which costs approximately €1.5m per season) or even the lower-rung Formula BMW, which demands nearly €300k to race. Insiders view this as a clear provocation from the FIA against Ecclestone. We'll just have to see how it all plays out.

[Source: autosport.com]