On 1 January 2006, Giancarlo Minardi re-acquired some rights to use the Minardi name in racing. He announced that he was licensing the Minardi name to an existing team GP Racing in the junior Euro Formula 3000 series, to be entitled 'Minardi Team by GP Racing'. The team raced with moderate success, scoring a podium in each leg of the Spa round in June 2006. For 2007, Minardi Team by GP Racing combined forces with GP2 team Piquet Sports, to form Minardi Piquet Sports. For 2008 the team is known simply as Piquet Sports.