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F1 rebels get new banner
All the teams, except Ferrari, agreed to new norms.
The nine teams preparing a breakaway series to rival Formula One insisted their plans remained on course following a meeting in London.
All the teams on the grid, with the exception of Italian world champions Ferrari, were present yesterday where a decision was taken not to attend a meeting with Max Mosley, president of motorsport world governing body the FIA in Paris on April 15 to discuss future rules.
Instead, in what they said was a signal of their determination to continue their path towards a fresh competition, the group revealed its new identity of Grand Prix Racing.
The bulk of the group had previously come together under the banner of the Grand Prix World Championship but the change was said to reflect wider aims for the nine teams and five car manufacturers involved.
They want a larger say in how Formula One is run after 2007, when the current Concorde Agreement which governs the sport expires, and a greater share of commercial revenue.
