GP2 steers Ecclestone towards another winner

Bernie Ecclestone, Formula One motor racing's billionaire boss, is on track to make another fortune, this time from GP2, the F1 feeder series.

GP2 races are held during an F1 weekend on Europe's most famous circuits such as Monaco and Silverstone.

The GP2 series was launched in 2005, but soon raced to prominence after it was won last year by F1's current superstar, Lewis Hamilton.

It is run through the Kent-based company GP2 Motorsport. According to its recently filed 2006 accounts, its after-tax profit more than trebled last year to £342,000 compared to the previous 12 months. Perhaps more impressively, it managed to achieve this despite seeing turnover slip 19 per cent year-on-year. The Independent