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F1 TO BRING IN PROMOTION AND RELEGATION

FIA president Max Mosley has said that promotion and relegation are likely to be introduced to Formula One in two years time.

Mosley is keen to bring financial stability and reduced costs into the sport - and then add some new interest and a better structure.

The plan would see Formula One relegating its bottom team, or two, to a second tier competition created out of the current GP2 series, which would, in turn, supply replacement promoted teams.

"It is natural and it would be very stimulating for everyone," said Mosley.

"But first we do have to get the costs fully under control so that promoted teams, quite possibly smaller, independent teams, could afford to make the step up into Formula One."

Mosley is hoping to cut Formula One budgets from £250million to about £65million - a figure he believes an ambitious and successful promoted junior team could find.