Ecclestone looking to host new racing series?

Bernie EcclestoneBernie Ecclestone is rumoured to be looking at forming a new series, ‘GP3 , possibly as a competitor to Mosley s recent plans to resurrect Formula 2 as a low-cost racing series.

According to Swiss magazine Motorsport Aktuell, Ecclestone is looking to involve the European-based junior racing series International Formula Master (IFM) which started in 2007 as a competitor to Formula 3. IFM budgets are normally around the 450,000 Euro mark. In comparison, a GP2 budget will normally be in the region of 1.5 million Euros per season, and the F3 Euroseries will be around the 800,000 Euro mark.

Mosley s Formula 2 budget aim is for a season to cost around the 200,000 Euros mark.