A new low-cost feeder series for the development of future Formula 1 talent is set to be launched by the FIA next year under the guise of Formula 2. The series will be run in direct competition to the current GP2 series operated by Bernie Ecclestone, though young racers around the world are sure to appreciate the expanded opportunity the second event will provide.

A statement issued at a recent meeting of the World Motor Sport Council in Paris said the FIA will invite tenders for the new race event.

“Formula 2 would be launched in 2009 and used as an inexpensive platform to develop emerging driver talent for Formula one,” the FIA issued statement said.

The original Formula 2 feeder series was renamed Formula 3000 in 1985, and later became what is now known as the GP2 Series. The new Formula 2 is based on the same basic principles as the Ecclestone-organised event, but could prove even more affordable as an entry into the upper echelons of motorsports as annual budgets are expected to be capped at €200,000 ($327,250) per car.

Formula 2 could be too affordable
Current GP2 teams are at a loss for what sort of cars the new series might be running with such a low target budget. A single GP2-spec chassis costs teams anywhere upwards of €190,000 ($311,000), due primarily to the intensive labour and high-tech composite materials that go into making the carbon-fibre and aluminium honeycomb car structures.

Established models such as the Formula BMW championship car can cost up to €300,000 ($491,000) to run annually, without accounting for any extra expenditures for destroyed cars or other eventualities of racing. Finding a way to fit an entire season of racing - including transport, parts, engineering and development, tyres, fuel, labour and the expense of conducting the race itself is the primary concern facing organisers.

Driver development alone could mean a junior series
The budget of the Formula 2 series appears more like that of a junior series - and with the progressively younger ages of Formula 1 drivers, that might make sense. Putting 14-17 year olds into lower-performance cars to hone their skills under intense competition and expert coaching could be a recipe for success, and the smaller budgets could bring in talent and teams that might otherwise have never made it to the paddock.

Underpowered cars with a fluctuating multitude of relatively unknown drivers isn’t a recipe for commercial success, so taking such an approach would limit the value of the series to its role as a driver development league alone, which ultimately is the stated purpose of the new feeder series.

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