Despite popular belief that the Grand Prix World Championship is virtually dead and buried, following Ferrari's decision to commit to Formula One, and Bernie Ecclestone, until 2012, thus robbing the GPWC of one its founder members, and cornerstones, the GPWC insists that the fight is far from over, and that it is neither dead nor buried.

It's understood that GPWC chairman, Juergen Hubbert, former head of Mercedes (DaimlerChrysler), has written to the nine other teams that make up the F1 grid in a clear effort to keep the GPWC concept alive.

Hubbert believes that Ferrari's decision to 'go it alone' and agree to a new Concorde Agreement, has no effect on the existing agreement, which runs until 2008.

Although Bernie Ecclestone is putting pressure on the F1 teams to take the money and follow Ferrari's example, Hubbert is asking the teams to wait and hear out the GPWC's own proposals.

Ecclestone is offering a huge cash incentive to the teams if they'll agree, the fact that the money will be paid 'up front' is sure to sway some of those outfits at the wrong end of the pitlane, existing on (relatively) minor budgets.

"I'm confident that the presentation will clearly demonstrate that together we can create an environment of fairness for our sport different to that which appears to result from Ferrari's unilateral decision to enter to a private agreement with the commercial rights holder and FIA," wrote Hubbert in his letter, according to Reuters.

Meanwhile, in a separate movement, Minardi boss Paul Stoddart, who appears to have become the new spokesman for the (nine) teams - met with FIA president Max Mosley yesterday (Friday), in an attempt to find out what is happening.

Next Friday (28), Mosley is scheduled to meet the team bosses to discuss the cost-cutting led technical regulations that should take F1 to the end of the current Concorde Agreement (2008). However, the current situation is likely to be high on the agenda as money, or the perceived lack of enough of it, is a subject always close to team bosses' hearts.

Following yesterday's meeting, Stoddart told Reuters: "My purpose is to try to find a harmonious way forward, holding out an olive branch. We want to do our talking on the track and not have another year of politics.

"What came out loud and clear today was 'wait until Friday'. All will come clear then."