Preparations for the return of the much-debated FIA Formula Two Championship are continuing apace, with the announcement that WilliamsF1 will design the cars and MotorSport Vision (MSV) has won the tender to supply the new series with chassis' and engines.

Having won a fax vote of the FIA World Motor Sport Council, MSV will act as the promoter of Formula Two as well as the operating entity for all of the cars, set to incorporate a turbocharged 1.8-litre Audi engine and be built to Formula One-level safety standards. The first prototype car is due to make its testing debut in November of this year.

The championship is set to start in May 2009, comprising 16 races over eight events. Performance levels have been designed to fit in between F3 and F1, and the FIA assures the cost per competing driver will be less than EUR250,000.

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"The objective is to make top-level international single-seater racing available to drivers who at present have difficulty in raising enough money to demonstrate their talent," asserted FIA President Max Mosley. "Formula One and other major championships will benefit by being able to draw on a far larger pool of drivers, while competitors from countries which do not yet have an established motor racing structure will find it easier to make progress.

"We hope to reveal talent that might otherwise never have emerged and we look forward to seeing drivers coming into Formula One with super-licences gained in Formula Two."

MSV is run by Jonathan Palmer, who clinched the penultimate FIA Formula Two Championship title back in 1983, and the company has extensive experience in supplying race cars and promoting motor racing events.

MSV owns and operates five circuits in the UK and has run the Formula Palmer Audi series for the last eleven years, in addition to being the commercial and organisational rights-holder for the British Superbike Championship.