New racing series to kill off A1GP?

According to AutoRacing1.com sources, a new European based racing series will debut in 2008 that will tie in with major football (soccer) clubs. Now we have seen this tried before, but supposedly this time leading international clubs from Italy, the Netherlands, Portugal and Greece – AC Milan, PSV Eindhoven, FC Porto and Olympiacos have already signed up.

The core of the new series, soon to be revealed, is a dramatic-looking Elan/Panoz single-seater built by Élan Motorsport Technologies in the United States. It will be powered by a 750bhp 4.2-litre V12 engine designed by US-owned Menard Competition Technologies (MCT) in Leafield, England. All race teams will have identical cars and engines with high performance specs, allowing the drivers’ skills to be the determining factor.

We hear the new series is meant to give young drivers experience for a future in F1 and could put A1GP, which is bleeding red-ink profusely, out of business. It could also put a dent in GP2 and it will also give Champ Car less drivers from Europe to pick from.

We will have more information on this a bit later.