F1 bosses to meet

Formula One team bosses have been invited to a meeting before the start of the season on March 6 to hear about plans for a rival world championship.

The Grand Prix World Championship company is threatening to launch a new series in 2008 unless teams are given a greater share of F1 profits.

“We’re progressing into the key areas the new series needs to have in place to start on time,” a spokesman said.