However A1 executive director Richard Dorfman confirmed cash losses were in excess of $100 million last season, although others have put the figure at more than twice as much, but considered that inevitable for a start-up.

"Going forward we are funded, we're going to be here for years to come," he said.

A1 engaged Japanese brokers Nomura in May to raise an institutionally-targeted debt financing before a float of the series, a move Dorfman said was intended to add $500-600 million to the coffers.

The main focus of the series, originally intended to fill in the quiet European winter months, remains those countries -- such as India, Pakistan and Lebanon -- who otherwise lack a major presence in motor racing.

The cars, less sophisticated and slower than Formula One racers, are painted in national colours and provided to 'seat holders' on a franchise basis.

Each country has one car on the starting grid and drivers must be citizens of the nation they represent with points awarded to countries and not individuals. France were the inaugural champions.

CHINA SECRET

Clare said A1 was aiming to create new markets in its second year and deliver something relevant to the local population in a way that others could not.

China, already a host for Formula One and MotoGP races but without local teams or drivers in either championship, was a case in point.

"The situation (with two races) in China is a direct result of the enthusiasm and support both within the country and also from its federation and the ministry of sport," said Clare.

"Our season finale in Shanghai was very popular locally and, unlike other series, we didn't bus anybody in. The people that turned up did so because they came and bought tickets.

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