Formula 2 on hold until 2017 - report

Aug.17 (GMM) Formula 2 has been put on the back burner for now.

Actually, the FIA intended to revive the series for 2016 to be a genuine new step between Formula 3 and F1, with the last iteration having collapsed in 2012.

In charge of the project is the former Ferrari team boss Stefano Domenicali.

Reportedly, given the success of the Bernie Ecclestone-conceived and Bruno Michel-promoted GP2 and GP3, the plan was for the FIA to complement the renewed success of its European F3 format with another genuine route to F1.

The target, reportedly, was that a full F2 campaign should cost less per driver than the EUR 1.4 million barrier into GP2, the current obvious F1 feeder series.

But Finland's Turun Sanomat newspaper reports that FIA single seater chief Domenicali's project has hit a "major setback", as a suitable promoter or manufacturer has not come forward in time.

Correspondent Luis Vasconcelos claims that the only offer came from the GP2 and GP3 promoter, leaving Domenicali "with only two options".

"Either accept the offer and undermine the original aim, or delay the F2 debut until 2017," he explained.

However, the F2 concept has got a boost given that the highly-regarded Formula Renault 3.5 series, an obvious direct competitor, has reportedly lost the support of the French carmaker.