As discussed here,
http://tentenths.com/forum/showthread.php?t=116523 with FOTA breaking away what does it mean for the circuits? IIRC the FIA has the right to the title Grand Prix and indeed Formula One (although that may be Bernie).
So, it raises the question of what these breakaway races will be and where will they be held?
I suspect we may well be looking at the traditional circuits, such as Monza and Silverstone, not to mention Nurburgring, but I suspect Monaco will be dropped because of it's links with the FIA and Bernie.