It was a series similar to the FIA GT Championship, concentrating on two classes of open-cockpit sports prototypes in endurance races mostly around Europe.
In 1999, the series was officially recognized by the FIA and renamed the Sports Racing World Cup.
Grand-Am Road Racing changed to adapt to this shift in sportscar design by dropping the SRP1 class and phasing out the SRP2 class (eliminated in 2004) in 2003 in favor of adopting its own rulebook for prototype closed-top race cars built on inexpensive tube-frame chassis known as Daytona Prototype, named for the former sanctioning body's base close to Daytona International Speedway.
By that time, the FIA Sportscar Championship was suffering from a decline in entries, leading to its demise at the end of the 2003 season.
The FIA chose instead to back the new Le Mans Endurance Series that debuted in 2004, ensuring the continuation of Sportscar racing in Europe.