Former Formula One team boss Eddie Jordan has branded Bernie Ecclestone's idea to introduce a new gold medal system into the sport as 'a nonsense'.

The commercial rights holder is keen to push ahead with plans for the new initiative which was see F1 adopt a system similar to that found in the Olympic games - where drivers finishing in the top three would receive medals instead of points.

At the end of the season, the driver with the most gold medals - and therefore most race wins - would be crowned F1 champion, thereby removing the situation which Ecclestone claims 'isn't on' where a driver can win the world title despite winning fewer races than his rivals.

However, the introduction of the medal system would make the sport less appealing for smaller teams at the back of the grid who don't have the resources to fight for victories and who celebrate a single point as if it were a win.

"I think they are a nonsense," he told the BBC while discussing the medal idea. "I can't possibly believe he's [Ecclestone] thinking straight, especially on this one. His focus, and the focus of everyone in F1, must be on cost-cutting and nothing else. The rest is just dressing it up.

"The points are necessary. I was one of the team principals who advocated the points should go down to eighth place because one point is as important to a team down there [at the rear of the field] as a win is to McLaren and Ferrari and we must never forget that. A driver like Massa, who has come from a smaller team and worked his way up to the top, knows how important those points are at the back of the field.

"He is tinkering with something on which he has lost the understanding. He thinks only wins matter."

Jordan added that he felt the new system would have caused even more controversy in the 2008 campaign had it been in place, as it would have given the title to Felipe Massa by virtue of his six wins compared to five of eventual champion Lewis Hamilton.

However, one of the those six wins was at Spa during the Belgian Grand Prix, which Hamilton would have won had he not been given a time penalty for his overtaking move on Kimi Raikkonen.

"When Hamilton lost the race in Spa and it was given to Massa, can you believe the controversy that would have created?" he continued. "There has not been enough thought put into this and for him to say that it comes with the full approval of all the teams - I'm sorry, I just don't believe it."