The Grand Prix World Championship (GPWC) group has ended negotiations with
F1's holding company SLEC and Bernie Ecclestone's Formula One
Administration (FOA). A Memorandum of Understanding (MOU) was recently
signed between GPWC and the concerned parties but further talks have now
broken down.

"Despite all reasonable efforts to implement the Memorandum of
Understanding between GPWC Holdings B.V. and the shareholders of SLEC
Holdings Ltd, GPWC has decided to end negotiations on the future structure
of Formula One,
due to SLEC shareholders' failure to comply with key points agreed in the
MOU," said a statement released by the GPWC on April 22nd.

[...]

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