Motorsport chief Max Mosley has said that promotion and relegation are likely to be introduced to Formula One in two years time.
Mosley is hopeful of changing the face of Formula One
Mosley is keen to bring financial stability and reduced costs into the sport - and then add some new interest and a better structure.
"It is one of the new things we are looking at and it would be nice because it is necessary," said Mosley.
"Promotion, and relegation, would add a huge amount of new interest."
Mosley's plan would see Formula One relegating its bottom team, or two, to a 'second division' competition created out of the current GP2 series, which would, in turn, supply replacement promoted teams.
"It is natural and it would be very stimulating for everyone," said Mosley, who is president of the sport's governing body, the FIA.
"But first we do have to get the costs fully under control so that promoted teams, quite possibly smaller, independent teams, could afford to make the step up into Formula One."
Mosley is hoping to cut Formula One budgets from £250m to about £65m - a figure he believes an ambitious and successful promoted junior team could find.
"They will already have some success, an efficient management and sponsors.
"And they will gain more money, from the commercial side of Formula One, when they go up - thanks to Bernie Ecclestone's increase in payments - and should also find extra sponsors."
Meanwhile, Mosley remains confident that the Belgian Grand Prix will return to the Formula One schedule in 2007.
The race was withdrawn from the 2006 calendar while the circuit at Spa-Francorchamps undergoes major repairs and improvements.
But Mosley has insisted that the race, a favourite among drivers, must stay on the calendar in the future.
"When the race returns to Belgium in 2007, it should stay," he said.