While Formula One has been a relative constant for the past several decades, the various feeder series running up the ladder to the pinnacle of international motorsport seems to always be in flux. The FIA recently announced plans to revive the old Formula 2 series with a new low-cost format to compete with F1 supremo Bernie Ecclestone's contemporary GP2 championship, but Bernie isn't about to let himself be dominated by Max Mosley without putting up a good fight.

To that end, Ecclestone is now reported to be working on launching a new GP3 series. The new feeder series would sit one step below GP2, which itself has supplied a crop of new talent – including Lewis Hamilton, Nico Rosberg, Heikki Kovalainen, Nelson Piquet Jr. and Timo Glock – to the F1 grid every year since its inception in 2005. GP3 would compete directly with the fractioned Formula 3 – under which separate series operate around the world without a single united championship – and swallow the International Formula Master's series established last year. While Mosley's discredited vision of a low-cost Formula 2 would cap annual budgets at 200,000 euros per car (compared to the 800,000 euro cost of the F3 Euroseries), GP3 could keep things down to the more realistic 450,000 euro budget required in the aforementioned IFM.

Bottom line: there's a war of racing series going on between Mosley and Ecclestone, and racing fans could stand to benefit from the competition.

[Source: F1-Live]