 Mosley was elected to his third term as president of the FIA in 2001 . From 2000 , Formula One saw the return of teams partly or wholly owned and operated by major motor manufacturers , who feared that under Ecclestone 's management F1 coverage would go to pay television , reducing the value of their investment . In 2001 , the Grand Prix Manufacturers Association ( GPMA ) announced an alternative world championship , the Grand Prix World Championship to start by 2008 . The GPMA stipulated that the championship should not be regulated by the FIA , which Lovell believes was because the organisation believed Mosley was too close to Ecclestone . 
