In February 2005, the Daily Telegraph reported that the GPWC, according to its spokesman, was "not excluding the possibility of using the Formula One name". Of course not only did it not do this but the threat of a GPWC series ended with an agreement under which the teams' prize money doubled to the current 50% of F1's profits. However the threat of a new rival series raises the naming question yet again, and, according to one very well-placed source, the manufacturers could have played an even stronger hand by calling the cars in their series Formula One cars. FOTA, take note.
Under an agreement with the European Commission in 2001, the FIA committed in principle to attaching its name to any series, if asked by organisers, promoting a definitive competition which is properly managed, sufficiently popular and developed. In short, the FIA can not favour the FIA F1 world championship over rival series. And apparently it goes far deeper than that.
"Had the GPWC called their cars 'Formula One' they would have been in quite a strong position if the cars were built to the then F1 regulations - if a car is a genuine F1 car, it is difficult to stop someone calling it that," says the source. There is good reason for this.