The half-hearted US Grand Prix of last week may well be the first signs of the demise of Formula One, according to a leading businessman from New Zealand.

"The flop of the American Grand Prix is a shot in the arm for the A1 Grand Prix," Colin Giltrap, the franchise holder for the New Zealand team in motorsport's latest version, told Gulf News.

Michael Schumacher went on to earn his fourth US Grand Prix victory at the Indianapolis Motor Speedway, but that came against the backdrop of 14 cars not competing following tyre supplier Michelin advising them not to do so due to safety concerns.

Giltrap, who is the sole agent for BMW and Porsche in New Zealand among other business interests, is also associated with Emirates Team New Zealand's challenge in the America's Cup here in Valencia.

"My interests are many, and one of them is this new series that has been planned by Shaikh Maktoum Hasher Maktoum Al Maktoum, the President and Founder of the new A1 Grand Prix," Giltrap said.

After successfully acquiring the rights to own the New Zealand team, Giltrap predicted that the series could not have been announced at a more opportune time.

"This is the best time ever for this series to come in. Evidently, we have seen how the F1 has been struggling. This is absolutely the most perfect time to come in," Giltrap said.

The idea of nations participating against each other in the A1 Grand Prix has already been sold to around 16 teams worldwide, with New Zealand one of these.

"I liked the idea from the start," Giltrap said after being introduced to Shaikh Maktoum by the owner of Lola Cars.

"The idea of having a series to complement the F1 was always there. But no one seemed to take it seriously and make it happen for the world… till Shaikh Maktoum came along," he added.

"It's terrific and I am so excited about it. There's no doubt this A1 series is going to work. I find no fault with it."

Quote hanger

Saturday's fourth fleet race was among the closest seen any time during the history of the America's Cup. Members of various teams recount being part of this excitement.

  • If you don't tell anyone, I would probably have paid to have been out there on the boat. It was a huge experience to see 12 boats Cup boats on the race course and going around the marks and doing all the gybes. That won't happen too often and I am happy to be part of it actually.
    Jesper Bank
    Skipper and helmsman, United Internet Team, Germany
  • That was definitely the moment of this Act… to see so many stay within metres of each other is one of the rare things in sailing.
    James Spithill
    Strategist for Luna Rossa Challenge
  • We chased well in the first race. But the second race is among the most memorable ones for us. It was so close and could have gone any way. The penalty turn, I think, cost us the race in the end.
    Dean Barker
    Helmsman for Emirates Team New Zealand