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I don't have time to research all of the specifics to make it sound good, but in general...
* Around 2008 +/- Budget caps are put in place and Ferrari's veto is struck down in the courts.
* Ferrari and a few other manufactures leave the sport (somewhat in disagreement with caps, and loss of veto, some due to recession and it is just good timing to get out)
* Ferrari and someone else (maybe Renault in a post crash gate scenario) create a breakaway series.
* Cosworth and at least one other independent engine supplier create customer engines for the main F1 series
* Teams like McLaren, Williams, etc. become backbone for F1 which becomes successful post large manufacture involvement.
* Budget caps work. Smaller teams join and survive.
* Break away manufacture series eventually fails due to various problems (they fight amongst themselves on how to run the series, small number of teams, top drivers don't migrate to the series, races don't actually generate good racing, etc.)
Richard
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