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Disclaimer : this post does not affect my view that this is just brinkmanship and is unlikely to happen outside of the land of the press release. However I am assuming it does in this scenario.
Trademarking Grand Prix is an interesting thing - if Bernie had ownership to all uses of the term Grand Prix the courts would be jammed up with him suing the IAAF, Dorna, FIM, numerous showjumping events, whoever the promoters are for Speedway Grand Prix, International Badminton Federation and half of the world's sports governing bodies and commercial promoters.
I don't think Bernie owns the name Grand Prix. He might own British Grand Prix et al et al. If he does he would have sued the IndyCar events, GPMA and GPWC.
Also, FOTA could sue under competition regulation requiring the FIA to sanction other series. Other new sports leagues have sued on competition grounds, the USFL did but it sort of killed them (winning only four US dollars in damages). I think this has been mentioned before. If the FIA start taking licences away, the circuits could sue. The only real winners
Logical venues would probably be as follows.
Valencia Ricardo Tormo : F1 grade venue, holds MotoGP, in Spain. Not that long though.
Silverstone : No FIA top level events next year, major fan interest.
Mugello : It's owned by Ferrari
Indianapolis Motor Speedway : If the FIA ban them, are Tony George, the FIM and Bill France really going to care?
Magny Cours, Valleunga and other 1T licences : Nothing to lose.
Temporary circuits : Obvious reasons.
It would be difficult to get things together to kick off in nine months time though, I'd imagine it would start in the mid-summer next year. If it ever happens.
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