GTC208 is the 1980 Toleman TG280 F2 car probably with Brian Henton at the wheel (#7 was 'his' number, #8 was Derek Warwick's) and maybe on the old Nürburgring (Nordschleife) circuit
The original pic you've posted is named "bh-mug80" so, I guess "mug" most likely stands for Mugello...(Brian Henton, Mugello 1980)