JULY 18, 2003
We're still here, says GPWC
Although the future of the GPWC is not taken very seriously in F1 circles as the automobile manufacturer continue to refuse to put their money on the table, the organization which is planning to start its own F1 series in 2007 says that they are committed to the new series even if there are negotiations going on with SLEC, the company which owns the commercial rights to Formula 1.
Back in April all the F1 teams signed a memorandum of understanding and since then there has been much discussion over an Organizational Agreement which lays out the plans for the new series, which the GPWC wants to see as the foundation of the sport, either in a new series or incorporated into the current F1. This would replace the Concorde Agreement.
"It is our intention to find a solution that benefits all parties," says the GPWC's Richard Parry-Jones. "Therefore, GPWC is willing to continue the discussions in 2003. If we do not come to an agreement at the end of this year, we will focus all efforts on setting up the new series. Experience has shown that if an agreement is not reached within a certain time frame, it is better to focus on the alternative."
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