Formula One News — July 1997

THE delays over the flotation of Bernie Ecclestone's Formula One Holdings company has created more interest in F1 in financial circles than might have been the case if it had gone ahead without drama.

TEAM LOTUS is hunting for money to enable it to return to Formula 1 racing in 1999.

THE Italian tire company Pirelli is understood to be evaluating a possible return to Formula 1 racing to try to boost its share of the world tire market against Goodyear, Bridgestone/Firestone and Michelin.

FOR the last couple of weeks members of the Williams team have been testifying in Italy that Ayrton Senna's steering column did not fail before his accident at Imola in 1994.

WORK has begun to upgrade the Estoril racing circuit after a showdown between the circuit owners and the Portuguese government.

THE long-term stability of Formula One Holdings received a major boost last week when German television magnate Leo Kirch announced a restructuring of his TV empire.

GERHARD BERGER says he will probably move on from Benetton at the end of this season after a disappointing couple of years with the Enstone team.

THERE were three days of testing last week at Silverstone with all 11 Formula 1 teams making an appearance at the track which will host the British GP next weekend.

WITH Tom Walkinshaw yet to find a competitive engine package for 1998 Damon Hill's future with the Arrows team has to be seen as limited with other front-running teams already offering Damon more competitive machinery if he defects.

JORDAN and Benetton are both expected to announce their 1998-99 engine deals at Silverstone this weekend.

HAVING failed in its bid to buy Tyrrell, the new F1 team to be funded by British American Tobacco is now being widely tipped to buy the Minardi team.