Sunday 13 July at 15:45 : The FIA has defended its plans to resurrect Formula 2 next year as an ultra low-cost feeder category for formula one.

Dismissed by some as a ploy amid Max Mosley's power struggle with Bernie Ecclestone, others - including one unnamed GP2 team boss - slammed the stated ideal budget of 200,000 euros per car per season as "bullsh*t".

"Even if everyone worked for free and we set ourselves up as a registered charity, the team's travel expenses alone would be more than 200,000 euros," he said.

But in a press release to announce the launch of the tender process, the Paris based federation explained that the 200,000 euros figure is only a guide for interested bidders.

"No minimum or maximum price is indicated in this tender," an excerpt of the FIA statement reads.

The FIA also said Formula 2 will be a ten-round annual championship in Europe between April and September, with events taking place on Saturday and Sunday.

There will be six days of official testing per season, the statement added.