Wednesday 27 May at 09:59 : May 27 (GMM) After Ferrari derided next year's prospective entry list as turning F1 into 'Formula GP3', Flavio Briatore has followed suit

The Renault boss says the sport risks watering down its prestige and value by opening the door to outfits worthy of junior categories

"We are devaluing formula one," Italian Briatore is quoted as saying in Spain's El Mundo newspaper. "It is not correct that teams of GP2 race with us; it brings down our image and our technology."nnThe 59-year-old also rejected claims that making it easy for new teams to enter formula one is necessary because of the risk of existing competitors pulling out

"It is said that the constructors will go. But with normal regulations, I do not believe that any constructor would go," Briatore said

"What we cannot have is F1 with a little bit of formula two and a little bit of GP2. The small teams have to have success on the basis of their results

"I began with a small team, Benetton, and with clear regulations we competed with McLaren and Ferrari and won (the titles) in 1994 and '95 with a budget 80 per cent smaller. We never asked for different regulations."nnBriatore added: "We want a formula one that is unique, with the best technology and the best teams and drivers."n