The inaugural (and sole 2005) event, at the Kyalami Grand Prix Circuit in South Africa, took place on 11–13 November, but the series folded after a two-race season in 2006.

The chassis was built by English constructor Delta Motorsport,[1] and was powered by a naturally aspirated, 3.5-litre, 80-degree V8 engine produced by Nicholson McLaren.

Claiming that the combination of stable aerodynamics and considerably simpler technology (than in use in modern Formula One) better demonstrate driver skill and promoted overtaking, electronic "drivers' aids" (such as traction control, power steering and ABS) were absent, and brakes were made of steel rather than carbon (as in many contemporary single seater race cars) to increase braking distances.

The Grand Prix Masters car first ran in late-September 2005 in the hands of Delta Motorsport Operations Director Simon Dowson.

26 October saw the first multi-car test for the series, with Mansell, Andrea de Cesaris, Stefan Johansson, Derek Warwick, Alex Caffi, Hans-Joachim Stuck, Patrick Tambay and Christian Danner running at the Silverstone Circuit in England.

Participant Christian Danner questioned the ability of 1980 World Champion Alan Jones and former GP winner Patrick Tambay in particular, given the rapid expansion of these drivers' waistlines since retiring from racing.

In January 2006 GP Masters announced it would hold events in the following venues: The race scheduled for Monza was cancelled due to noise limits.