In September 2008, Motor Sport Vision, which is run by ex-Formula One driver Jonathan Palmer, was awarded the tender to be the promoter of the new FIA Formula Two Championship, as well as the operating entity for all of the cars. The goal was to design and build 25 identical yet technically sophisticated single-seaters within a very tight timeframe.

FIA President Max Mosley said at the time: “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. 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.”

With this in mind, Palmer turned to the Williams F1 team, where he started his F1 career as a test driver, to help design the cars.

Williams F1 Engineering Director Patrick Head said: “We were originally discussing the creation of a much higher spec Formula Palmer Audi car, but then when the possibility of Formula Two came up, it became clear that we would have to significantly upgrade the whole operation because the car would have to pass the 2005 Formula One crash test rules, which is a serious engineering challenge.

“Designing a high performance F2 car to a budget actually has many more complex issues to that of a Formula 1 project which has a much larger resource base. And there will be expectations from drivers who were maybe thinking of doing GP2 but have decided to do F2 and they would be disappointed if the car didn’t have a certain amount of sophistication to it.”

The final design thus features a sophisticated composite survival cell complying with the 2005 F1 safety regulations. The engine is a 1.8-litre Audi turbo, which produces 450hp and is mated to a six-speed Hewland gearbox with pneumatically operated paddle shifts. Settings on the car that can be adjusted to change the mechanical balance include anti-roll bars, dampers, cambers, tracking spring pre-load and ride height.

The front and rear wings can be adjusted to alter the aerodynamic balance of the car and drivers will even have the ability to make some of these adjustments via on-board controls - the F2 car features a cockpit-adjustable front anti-roll bar and a pioneering front wing adjuster on the steering wheel.

All of these features and the cars had to pass the rigorous FIA safety checks as well. Palmer said: “For any new car for an FIA series above F3 performance the FIA requires compliance with the 2005 F1 safety standards, particularly with regard to the many impact tests. These are extremely demanding for any new car. For our new Williams F2 car they were even more of a challenge, both because of the short timescale for the design and build of the car but also the fact that the objective was to design a car more than twice as strong as an F3 car - yet cost half the amount to provide.”

Despite all of this, the Formula Two car passed all of the tests first time round. Palmer said: “This was an outstanding result and a great testimony to Patrick Head’s team. As well as complying with the FIA survival cell impact tests, including side impact, nose push-off, nose impact, roll over bar and rear impact structure tests, our F2 car incorporates the latest 2009 F1 head surround protection requirements, wheel tethers and many other detail safety benefits such as the accident data recorder and even a cockpit light that illuminates to warn rescue teams that the car has been subjected to a very high G impact.

“Although expensive and demanding to comply with, I am very appreciative of the fact that the FIA puts so much effort into researching the optimisation of safety and setting standards that we as a constructor can adopt to give us the comfort that we are providing our competitors with the safest possible race car with which to compete.” The chassis were manufactured by Universal Race Technology in Bognor Regis and were assembled by MSV at its Bedford Autodrome facility, where two shifts worked from 20 hours a day, seven days a week.

“It has been a gargantuan effort from the team,” said MSV’s operations manager Giles Butterfield. “It really is difficult to express just how hard they have worked. These guys have literally had to eat, sleep and breathe the F2 project over the last months, and the quality of the car is a real testament to the incredible effort they have put in.”

All 25 cars took to the track on schedule for the first event at Valencia on 29-31 May and proved to be consistent and reliable throughout the weekend.

Mosley, who was in attendance for the first race, said: “I’m astonished with how successful the day has been. I was involved initially in the tendering process for the championship and the discussions around it, but the series has come together under the direction of Jonathan Palmer and the WilliamsF1 team. They have done an absolutely fantastic job; the championship, the racing and the whole set up is extraordinary and it has been a really great success.”

With a full F1 test with the WilliamsF1 team up for grabs for the winner, the action on the track throughout this season is likely to be as frenetic as it has been off track throughout the winter.