Bernie Ecclestone’s grand plan to overhaul the current F1 scoring system may not even be considered by the FIA.

Ecclestone's proposal to change the current points system to more of an Olympic-style medal for the podium finishers is a no-go according to the competition's insiders who contend that the move will most probably be vetoed by the motorsport's governing body.

Addressing the media in a press conference to welcome electronics giant LG to F1, Ecclestone revealed that he will be motioning for the medal system to be implemented for the upcoming season to add more excitement and make it a winner-takes-all competition for the world title.

Despite the F1 supremo reassuring his audience that the system will be in place for the first race of next season, his proposal has met with much resistance in the motorsport world, particularly the FIA, who many believe will vote to retain the current points system.

The medal system is set to be submitted for approval at next month's World Motor Sport Council meeting, though no formal proposal has been drawn up yet. It's currently not even on the Monaco agenda at this moment of time.

Ecclestone's master plan has met with much criticism, with many saying that the medals only cater to the winning teams, which leaves nothing for the mid to bottom teams to compete for. There have been inquires to increase the number of finishers rewarded with points in an effort to increase passing in the midfield and lower reaches of the field.

"The medal system only incentivises the top," Professor Steffen Huck, head of economics at UCL, pointed out, "But there are other undesirable consequences as well."

"First, teams and drivers would have to take riskier strategies - causing more crashes, and causing more mechanical and engine failures which will drive up the costs. We have already seen this incentive effect operating in the reverse direction when the new points system was introduced in 2003."

"Secondly, the championship could easily be decided after just two-thirds of the season and, in 2004, it would have been over by the halfway mark."

While many series have adopted the current F1 scoring format which rewards the top eight finishers with 10-8-6-5-4-3-2-1 points respectively, the system has been criticised for not providing a big enough incentive for winning races.

Previous incarnations at least saw a four-point differential between first and second, but were criticised for not prolonging excitement throughout the season should one driver prove to be dominant.

US-based competitions takes the opposite tack with the entire field being rewarded with points, and relatively close scoring patterns ensuring that the title fight goes down to the wire. IndyCar champion Scott Dixon won six races where no-one else won more than two, but still had to wait until the final round at Chicagoland Speedway before being crowned champion.

The IRL rewards every finisher with at least ten points, and gives its top eight runners 50-40-35-32-30-28-26-24 points respectively.