Even if a FOM-sanctioned regional series were to remain relatively limited and low-key, it could still have a detrimental effect to IndyCar's position in the US motor sports scene. The championship is already struggling to recover from a decade-long split between the Indy Racing League and the Champ Car World Series that left fans confused and which ultimately devastated support in favour of NASCAR stock car racing.
Even the hint of another rival could be the final straw for the series. IndyCar is reported to have lost around $7m in this past season, compared with FOM's estimated $44.8m in revenues (2.9% of the group's total) from GP2 and GP3 alone.
IndyCar's board of directors recently accepted the resignation of chief executive officer Randy Bernard leaving the future of the series uncertain. There has even been considerable media speculation about whether IndyCar can even survive in its current format, and whether it might end up becoming a one race-only championship centred solely on the world famous Indianapolis 500 race held every year in May.
If that were to happen, then FOM might be keeping its options open to allow it to move into position at the forefront of open-wheel racing across the US and the rest of the American continent.