Complex sentence: F5000's reign lasted for only two years, with a second generation of Can-Am followed, but this was a fundamentally different series based initially on converted Formula 5000 cars with closed-wheel bodies.
Split into simpler sentences: F5000's reign lasted for only two years, with a second generation of Can-Am following. This was a fundamentally different series based initially on converted Formula 5000 cars with closed-wheel bodies.