A British company Safir Engineering who made continuation GT40's in the 1980's owned the GT40 trademark at that time, and when they completed production, they sold the excess parts, tooling, design, and tradmark to a small Ohio company called Safir GT40 Spares. Safir GT40 Spares licensed the use of the GT40 tradmark to Ford for the initial 2002 show car, but when Ford decided to make the production vehicle, negotiations between the two failed, and as a result the new Ford GT does not wear the badge GT40. It is rumored that Safir GT40 Spares asked $40 million dollars for the rights, but this has never been verified. The partners at Safir GT40 Spares state they have correspondence from Ford declining Safir's $8 million offer. Early cars from the 1960's were simply named "Ford GT". The name "GT40" was the name of Ford's project to prepare the cars for the international endurance racing circuit, and the quest to win the 24 Hours of LeMans. The first 12 "prototype" vehicles carried serial numbers GT-101 through GT-112. The "production" began and the subsequent cars, the MkI, MkIIs, MkIIIs, and MkVs, numbered GT40-P-1000 through GT40-P-1145, were officially "GT40s". The name of Ford's project, and the serial numbers dispel the story that "GT40" was "only a nickname."